Minimum wage increase for 2024

The federal governments Fairwork Commission has announced that the minimum wage will increase by 3.75% this year. This will apply to all those on minimum wages, junior or adult, along with the same percentage increase in most modern award wages.

If you pay your staff award wages, make sure to increase their rates by the appropriate amount in the first full pay cycle after 1st July. The new adult minimum wage rate will be $24.10 per hour. 

Disclaimer

This information is intended to be general in nature and is not personal financial advice. It does not take into account your objectives, financial situation or needs. Before acting on any information, you should consider the appropriateness of the information provided having regard to your objectives, financial situation and needs.