Welcome to the halkin blog.
Your source for weekly stories and advice on local business, the economy in general and what’s happening in Sydney this weekend.
National Minimum Wage and Award Increases
The Fair Work Commission has handed down the 2022 Annual Wage Review decision, granting a 5.2% increase to the national minimum wage and a 4.6%, or a minimum of $40 per week, increase to modern award minimum wages.
In determining a proportional increase to modern awards, the Fair Work Commission determined that wages contained within modern awards that are above $869.60 per week will be increased by 4.6%, with rates below this figure to be adjusted by $40 per week.
This is the perfect time to consider what these increases will mean for you and your business. The increase this year is significant, so if you haven’t recently reviewed your employees’ rates and salaries to ensure they are still meeting the minimum requirements, now is the time.
