FWC awards a 3.5% increase to minimum wages
The Fair Work Commission’s Expert Panel for the 2017/18 review has awarded a 3.5% increase to the national minimum wage and the minimum wages within Modern Awards.
This decision results in the national minimum wage from 1 July 2018 being $719.20 per week or $18.93 per hour (based on a 38 hour week). This constitutes an increase of $24.30 per week to the weekly rate or 64 cents per hour to the hourly rate.
The proposed wage increases submitted from some of the significant industrial bodies were as follows:-
- Australian Industry Group (AiG) proposed a 1.8% ($12.50 per week) increase;
- Australian Chamber of Commerce and Industry (ACCI) proposed a 1.9% ($13.20 per week) increase; and
- Australian Council of Trade Unions (ACTU) proposed a 7.2% ($50.03 per week) increase.
The following table sets out how the increase applies according to the industrial arrangements that apply to you or your employees:
The casual loading for award/agreement fee employees and in modern awards will remain at 25 per cent. The casual loading in the Business Equipment Award will be increased to 23 per cent.
Should you have any queries in relation to the FWC’s decision and how it will apply to you and your business please contact your usual Hanrick Curran advisor or contact our HR Division on 07 3218 3900.