Update: Minimum Wage and Superannuation to Increase from 1 July 2024
The Fair Work Commission has announced that from today, 1 July 2024,
- Minimum award rates will increase by 3.75%
- The national minimum wage will increase to $915.90 per week or $24.10 per hour, based on a 38-hour week for a full-time employee
- Superannuation will increase from 11% to 11.5%
This means that for existing employees on minimum award rates, you will need to increase the rate by a minimum of 3.75% from 1 July to avoid underpayment.
For example, a qualified full-time dental assistant on level 4 will change from a minimum hourly rate of $26.18 to a minimum of $27.16. This will see a weekly increase from $995.00 to $1032.31. An unqualified full-time dental assistant on level 1 will change from a minimum hourly rate of $23.97 to a minimum of $24.86. Employees will see a weekly increase from $919.90 to $945.10.
ClinLegal can assist you with award classifications or rates to ensure that your employees are correctly classified. Incorrect classifications or failing to move employees to the next classification when warranted may result in underpayment.
For ClinLegal Members, we have updated the link to pay guides on our App to help you identify the correct rates. Please ensure that you check the current minimum rates before preparing contracts for your new employees.
Remember that from 1 July 2024, employers will also need to increase superannuation payments from 11% to 11.5%.
This Circular is produced for guidance purposes only and is not a substitute for legal advice. Legal advice should be sought for individual circumstances. For tailored advice for your Practice, please contact us at [email protected]
Hugh Oxbrough
Workplace Relations Advisor
Yasmine Healy
Head of Legal Services