Are You Prepared For The 2015 Wage Rise?
Our Legal E outlines the latest from The Fair Work Commission.
Annual Wage Review 2015
The Annual Wage Review was decided this afternoon. The Minimum Wage Panel has decided that the National Minimum Wage and Award rates will increase by 2.5%. This is a smaller increase than last year.
From 1 July 2015 the National Minimum Wage (NMW) will be $656.90 per week or $17.29 per hour, an increase of $16.00 per week or 0.42 cents per hour.
Adult wage rates calculated under Modern Awards will also increase by 2.5% rounded up to the nearest 10 cents, as will wages for apprentices, juniors and persons with a disability.
For those junior employees not covered by an Award, the increased NMW will continue to be applied based on the following percentage amounts.
Age 20 years 97.7% of the NMW
Age 19 years 82.5%
Age 18 years 68.3%
Age 17 years 57.8%
Age 16 years 47.3%
Under 16 36.8%
The Casual Loading rate remains the same at 25%.
Transitional arrangements for first year award/agreement free adult apprentices engaged before 1 July 2014 will continue to apply.
The Fair Work Commission will now begin the process of updating the figures contained in the individual awards in time for 1 July 2015.
For more information please contact:
Joanna Andrew, Partner
Ph: (08) 8414 3454
Elizabeth Olsson, Senior Associate
Ph: (08) 8414 3413
The contents of this E-Alert is for general information only. It is not intended as professional advice - for that you should consult a solicitor or barrister, or any other suitably qualified professional such as your accountant.