Increase in Minimum Wage

Time to gear up for changes occurring from 1 July 2014. Following the annual wage review decision from the Fair Work Commission there will be an increase in minimum wage rates so any employer paying pursuant to an award should ensure they are paying the correct rate after 1 July. The high income threshold goes up to $133,000 from 1 July. Superannuation increases to 9.5% for the 2014/15 year. Transitional provisions phasing in modern awards from 1 July 2010 should be complete as at 1 July 2014 (apart from a few minor matters) and thereafter modern awards will govern wages, loadings and penalties.