Minimum wage set to change: what you need to know

The government has announced an increase to the minimum wage that will kick in from April 1. The adult minimum wage will rise by $0.45 an hour, taking it up to $23.15 an hour. This will mean additional costs for many businesses.

Workplace Relations and Safety Minister Brooke van Velden said that “a cautious approach to the minimum wage is required this year” giving “our lowest paid workers more money in their pockets, without hindering job growth or imposing unreasonable costs on businesses”.

• If your business has minimum wage employees:
• talk to your payroll people to ensure wage changes have been made
• adjust your budgets for the year
• consider the impact on the rest of your financial plans
• check whether existing employment agreements provide for overtime or allowances. If they do, consider the impact of the wage increases.

Give us a call if you’re unsure how to plan for the minimum wage adjustment.