5.75% NATIONAL MINIMUM WAGE INCREASE
The Fair Work Commission (FWC) has, this morning, handed down their decision that the national minimum wage will be increased by 5.75%.
The increases will take effect from the first full pay period on or after 1 July 2023.
Simply put – the first full pay period, is the first pay period in July 2023 in which no wages are paid for work performed in June 2023.
So, if for example – the pay period was from Monday 26 June to Sunday 2 July, the rate of pay for that whole period would not increase.
The next pay period from Monday 3 July to Sunday 9 July would be at the new rates.