The End of Financial Year (EOFY) is a great time for businesses to check-in on their general practices and procedures when it comes to employing people. Employment in Australia is a highly regulated area of law and one that needs to be strictly complied with in order to avoid potential penalties and lawsuits. Protecting your business comes down to how well-managed and up-to-date your employment procedures are.

We have identified the main issues that you should be aware of as the financial year comes to a close. This is by no means an exhaustive list and we would encourage you to contact us for a more thorough overview of your employment law obligations.

• Minimum Wage: The national minimum wage will increase by 5.2% on 1 July 2022, to $21.38 per hour ($812.60 per week). There is also an increase for those covered by Modern Awards. If an employee is earning above $869.60 per week, they will receive a 4.6% increase. If the employee is earning below $869.60 per week, they will receive a $40 increase. (NOTE: There are some Awards that have a delayed commencement date for these increases – please ensure you check your relevant Awards).
• Change to Superannuation Guarantee percentage: on 1 July 2022, the superannuation guarantee payable to all eligible employees increases from 10% to 10.5%. You must ensure that the correct amount is being allocated to your employee’s super accounts.
• Record Keeping:

1. Ensure all employees have up-to-date contracts.
2. Review and update (where...

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