Award Wage and Superannuation Rate Increases as at 1 July 2014

wages increaseThe big news is the Fair Work Commission increased the national minimum wage to $640.90 per week, which is a 3% increase applied to all Modern Award minimum rates effective from the first pay period on or after 1 July 2014. Coupled with the increase to the superannuation guarantee to 9.5%, this is going to be an expensive year for employers.

We were very surprised to hear that the Fair Work Commission has approved a minimum wage increase of 3%. Particularly when taking into consideration that employers pleaded for an increase of no more than $10 per week.

What does this equate to in $$?

On the minimum wage this is an increase of $18.70 per week (to $640.90 per week), or 50cents per hour.

Who does it apply to?

The 3% increase will apply to all award classification levels.

When does it take effect?

The increase is to take effect from the first pay period on or after 1 July 2014.

What if you are paying above award?

If you are already paying above the minimum award rates, including the 3% increase, you will not need to increase your wages because the increase can be absorbed.

Who doesn’t it apply to?

The 3% increase does not apply to award/agreement free employees and Queensland government employees.

For further information about the increase including who it applies to and how it applies, please contact Nicole at Moreton Bay HR Solutions on 0459 220 516.

Nicoles Photo

Nicole Allen – B.Mgt, Dip. Mgt, Dip.HR
Managing Director

Nicole Allen is the Founder and Managing Director of Moreton Bay HR Solutions. In 1996, Nicole Allen commenced a successful career in operational and strategic human resources, recruitment, management and communications field. She has held some significant positions ranging from Human Resources Generalist to Group HR Manager in Mining and Resources, Uranium, Oil & Gas, Defence, Heavy Manufacturing, Information Technology, Utilities, Finance and small to large business sectors.

With more than 18 years’ experience in the Human Resources Management and communications field, she brings a diverse and unique HR and communications expertise and knowledge. She is a strong believer in employee communication as being the biggest key to business success and has a consultative approach which has underpinned her successful development of HR programs which improve the culture and behaviour of employees.

Amongst Nicole’s list of Qualifications, she holds a Bachelor of Management majoring in Communications, Diploma in Management and a Diploma in Human Resources.

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