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Minimum wage increases and EOFY

Minimum WageMay 28, 2015

Minimum wage increases and EOFY (Last Updated On: August 9, 2016)

As the end of the financial year approaches it is important to remember that there are a number of changes that will come into effect from 1 July 2015.

–  The key change is that minimum rates of pay under modern awards are likely to increase from 1 July 2015. The amount of the increase is currently unknown, but a decision from the Fair Work Commission should be delivered in the next few weeks. We will send an update out as soon as more information is available;

–  there will be no increase to superannuation contributions, which will remain at 9.5%;

–  also, don’t forget that PAYG Payment Summaries are due to each of your employees by 14 July 2015.

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