GWA_LOGO_SMALL

What is the best approach to protecting your assets? If wealth preservation and properly safeguarding your assets is important to you, we have the tools that may assist you.

In the event of a family breakup, we have strategies that may reduce your personal income tax burden

We can help you formulate a retirement plan so you can concentrate on your next holiday

Want to keep in control of your SMSF Compliance obligations?

Want to experience the GW&a Difference? Easy as…..pick up the phone and make the call

We can provide you and your business with tax saving strategies.

07 5532 1733
07 5532 1209
info@wilkes.com.au
Menu
min wage

Minimum Wage Increase

, ,

Minimum Wage Increase

On Friday 19 June 2020, the Commission handed down its 2020 Annual Wage Review Decision, which will see the National Minimum Wage and pay rates in all Modern Awards increase by 1.75%.

The minimum wage increase will start on one of three different dates (depending on the relevant award), first being on 1 July 2020, secondly 1 November 2020 and lastly being 1 February 2021.  

Most employees are covered by an award. If you’re not sure which award applies, use Find my award.

For anyone not covered by an award or an agreement, the new national minimum wage will be $753.80 per week or $19.84 per hour. This applies from the first full pay period starting on or after 1 July 2020.

The increase doesn’t affect employees who already get paid more than their new minimum wage.

Interaction with the JobKeeper payment

The new minimum wage also applies to any work an employee performs while they’re in the JobKeeper scheme, if they get their pay rate from an award or the national minimum wage. See JobKeeper and the Annual Wage Review 2020 on the  JobKeeper wage subsidy scheme page for more information.

When will my award increase?

The increase to awards will happen in 3 groups.

Group 1 Awards – from 1 July 2020
  • Frontline Heath Care & Social Assistance Workers
  • Teachers and Child Care
  • Other Essential Services
Group 2 Awards – from 1 November 2020
  • Construction
  • Manufacturing
  • A range of other industries
Group 3 Awards – from 1 February 2021
  • Accommodation and Food Services
  • Arts and Recreation Services
  • Aviation
  • Retail
  • Tourism

Click here for  a complete list of awards in each group and increase date. 

For further information regarding the increase to minimum wage please visit: https://www.fairwork.gov.au/about-us/news-and-media-releases/website-news/the-commission-has-announced-a-1-75-increase-to-minimum-wages#group-1

Most importantly, our team at Gerard Wilkes & Associates are here to help. If you have any questions regarding this article, or would like to discuss your taxation matters further, please contact us at https://www.wilkes.com.au/contact-us/ or call our office 07 5532 1733.

 

 

Share This Article With Others

Related Posts