3 June 2024
Minimum Wage Increase 2024
The Fair Work Commission has announced a 3.75% increase to the National Minimum Wage and minimum award wages.
When does the increase apply?
The increase applies from the first full pay period starting on or after 1 July 2024.
National Minimum Wage Increase 2024
The National Minimum Wage will increase by 3.75% from 1 July 2024. The new National Minimum Wage will be $915.90 per week or $24.10 per hour.
The National Minimum Wage applies to employees who aren’t covered by an Award or registered agreement.
What employers should do before 1 July 2024:
- Ensure that employees are receiving at least the minimum entitlements they are owed under their relevant industrial instrument.
- For organisations with employees covered by a Modern Award, rates of pay (and other entitlements) must be at least the same as the new minimum rates under such Awards, after the increase.
- For organisations with employees covered by and Enterprise Agreement, the increase will only apply if their Enterprise Agreement specifically refers to the Annual Wage Review, or if the base rates have fallen below the equivalent Modern Award rates as a result (in which case they must be brought up to at least the same as those rates, in accordance with section 206 of the Fair Work Act 2009 (Cth).
Got any questions about the above, or need help with conducting an audit to ensure that salaries are meeting this increase? Contact our team now!
