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The Fair Work Commission has decided to increase the National Minimum Wage by 3.3%. The same increase will also be applied to the minimum rates in each Modern Award. The 3.3% increase will take effect from 1 July 2017.

The Full Bench of the Fair Work Commission cited a number of economic factors that influenced its decision as to the extent of the increase, these factors include:

  • an increase in real net disposable income of 6.8%;
  • an increase in labour productivity and profit growth;
  • an increase in inflation (although at the end of the RBA’s target range);
  • and increase in the unemployment rate to 5.8%;
  • a 2.1% increase to CPI; and
  • an assessment of business conditions is positive and above long-term average levels.

The National Minimum Wage will increase by $22.20 per week, from the current $672.70 ($17.70 per hour) to $694.90 per week ($18.29 per hour).

Please contact your Employment Law specialist for further information regarding how these changes will impact your business.

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Wardle Partners Accountant & Advisors Address8 Otranto Ave,
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​Wardle Partners team use some of the following Software Systems:

Xero LogoMYOB logoQuickbooks Logo
Reckon LogoReceipt Bank LogoMicrosoft Office Logo

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CONTACT WARDLE PARTNERS

Wardle Partners Accountants Sunshine Coast Phone Number07 5492 0300
Wardle Partners Accountants Sunshine Coast Email AddressWardle Partners Accountants email address
Wardle Partners Accountants Sunshine Coast Street Address8 Otranto Ave,
Caloundra QLD 4551

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