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Penalty RatesAugust 20, 2015
Do you know your public holidays? Victoria has introduced a new public holiday on October 2 for the eve of the AFL grand final and it is causing quite a bit of controversy with businesses not wanting to pay an extra day of penalty rates.
The public holiday bombshell was confirmed by Small Business Minister Philip Dalidakis who says that ‘Grand Final Friday’ presents a perfect opportunity for Australians to celebrate their football and spend more time with their families.
This is not the only sports related public holiday in Victoria, they are also the only state to receive a public holiday for the Melbourne Cup. Victorians now receive 13 public holidays per year, significantly more than New South Wales with 11 , and Queensland and Western Australia with 10. However, Victorian Premier Daniel Andrews says businesses often oppose public holidays as they don’t want to be obligated to pay their staff penalty rates.
The move comes at a time when business groups are increasingly concerned over the burden of high penalty rates on weekends and public holidays, with retailers and businesses in the hospitality industry particularly under pressure. This new ‘Grand Final Friday’ is expected to cost Victorian businesses up to $543 million for the day.
The AFL grand final holiday announcement came after the Australian Industry Group released a survey showing that three quarters of local Victorian businesses would not open their doors on ‘Football Friday.’
This new public holiday announcement causes us to reflect back to the Productivity Commission Report where they recommend the removal of some penalty rates. Click here to read our overview of this report.
Don’t be caught in the dark when it comes to your state’s public holidays. Contact Employsure today on 1300 651 415 to discuss your obligations and staff penalty rates.
Sourced from the Herald Sun and Smart Company