The Workplace Relations and Safety Minister has announced the adult minimum wage rises to $23.15 per hour from today - a 2% increase from the current hourly rate of $22.70.
The Starting-Out and Training minimum wage rates will both increase to $18.52 per hour, remaining at 80% of the adult minimum wage.
As an employer, you’ll need to keep up to date with the latest minimum pay rates and pay your employees at least the current minimum rate.
Other costs are also increasing and inflation has put upward pressure on everyday items, so it may be timely to review your pricing. Ideally, your business should increase costs by a tiny amount each year, rather than by a big jump every five years, for instance.
If you don’t think increasing your prices is an option, or you still need to make more of a change, you may need to cut back your spending. We can help you look at your business line by line to identify areas where you might be able to trim the fat.
