The minimum wage has been increased, which may affect your small business.
Starting 1 July, the national minimum wage will increase by 3.75% to $24.10 an hour or $915.90 a week.
This increase will apply from the first full pay period starting on or after 1 July 2024. This means if your weekly pay period starts on Wednesday, the new rates will apply from Wednesday 3 July 2024.
The change is applicable to employees covered by an award. It may also apply to employees covered by a registered agreement as the base pay rate in the agreement cannot be less than the base pay rate in the relevant award.
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