Australian minimum wage gets a raise

Good news for millions of Australian workers — in June, the Fair Work Commission announced an increase in Australia’s National Minimum Wage and all modern award minimum wage rates by 3.75 per cent beginning 1 July 2024. The increase will bring the minimum wage up to $24.10 per hour, or $913.91 per week based on a 38-hour work week.

While the FWC says the increase will only make a modest contribution to the total amount of wages growth in 2024, it will surely make a difference to the 2.6 million employees — about 20.7 per cent of the Australian workforce — who will benefit from the rise in pay, many of whom work part-time hours or are casual employees. The commission cited mounting cost-of-living pressures as a reason behind the recent change. Read more about the ruling on the Fair Work Commission’s website.

For Sybiz Visipay users on version 23.10 and above, making changes to employees’ base pay rate is quick and easy using the Staff Types import functionality.  In Sybiz Visipay, select Utilities > Export > Employee Data and select to Export From: Employees and follow the wizard. Adjust the Base Pay rate and save the changes. As always, consult with your Sybiz Authorised Business Partner if you need assistance.