Are you ready for the minimum award wage increase? Make sure you read our checklist for handy hints and tips on what you need to do if your employees are either being paid below OR above the new minimum for their grade within the award.
The Fair Work Commission recently announced Australia’s minimum wage will increase from July 1 2022. This is the first year we’ve seen the decision to make a staggered increase depending on the wage paid. We are here to help you understand the why, the what and the how.
In early 2020, the working world changed, potentially forever. We were told we had to work from home if possible and our working hours were filled with Zoom and Teams meetings. Many of us added into this mix responsibilities of caring for children and remote learning pressures. The boundaries and lines between home and work life, truly blurred.
On Saturday 21st March 2022, the Australian people went to the polls and elected a new Government, the Australian Labor Party (ALP). After 9 years under the Liberal Party, this federal shift brings with it some anticipated amendments to employment law and practices.
Any changes will take time to make their way into legislation, however we do know the promised focus of the new Federal Government so we have a good idea what these changes might be.
Running a SME during a pandemic has meant keeping a careful eye on cashflow. As a result, little changes can have a big impact if we don’t plan ahead. One such change is the annual increase in Superannuation Guarantee Contributions over the next four years. Employer contributions started moving from 9.5% in 2020 and will increase gradually to 12% in 2025. This year on 1 July 2022, employer contributions move to 10.5%.