The commencement of the new financial year brings with it important changes to minimum wages, unfair dismissal regulation and various tax thresholds and rates.

Our Workplace and Employment and Taxation teams have summarised the significant changes employers should be aware of. Depending on your individual circumstances, immediate action may be required from 1 July 2023 to ensure ongoing regulatory compliance.

Increases to minimum wage rates for national system employers

Modern award rates

In accordance with the 2023 annual wage review decision of the Fair Work Commission, all modern award rates of pay will increase by 5.75%.

This increase will commence from the first full pay period on, or after, 1 July 2023.

National minimum wage

From 1 July 2023, the national minimum wage for adults working full time (38 hours per week) has increased from $812.60 ($21.38 per hour) to $882.80 ($23.23 per hour).

The casual loading for award/agreement free employees remains set at 25%, consistent with the standard casual loading in modern awards.

The above changes apply to all workers in the national system, including:

• junior employees;
• employees to whom training arrangements apply;
• employees with a disability; and
• to piece rates, through the operation of the methods applying to the calculation of those wages.

It is imperative that all employers conduct an annual review of their remuneration arrangements with their employees to ensure ongoing compliance with minimum wage rates.

Changes to...

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