The National Minimum Wage and Award Minimum Wages have increased as of 1 July 2024

National Minimum Wage and Award Minimum Wages have increased

Published 3 July 2024

The new National Minimum Wage

For a full-time employee on a 38-hour work week, the new National Minimum Wages are $915.90 per week or $24.10 per hour

The National Minimum Wage will increase to $24.10 per hour for employees who are 21 years and older. For those full-time employees working 38 hours per week this will equate to $915.90 per week.

What is the minimum wage increase?

The Fair Work Commission has announced a 3.75% increase to be applied to eligible employees from the first full pay cycle, effective on or after 1 July 2024.

The National Minimum Wage represents the lowest amount that employers are legally required to pay their employees who are 21 years or older and are not covered by a Modern Award or Enterprise Agreement.

Modern Awards and Agreements can set higher minimum wages depending on the classification. The Award Minimum Wages have also been reviewed and updated to align with this increase.

Is this applicable for casual employees?

As part of the increase, casual employees  who are 21 years and older must receive a minimum rate of $30.13 per hour (which is inclusive of the  25% casual loading).

Changes to the superannuation guarantee (‘SG’) rate

The minimum SG rate for eligible employees have increased from 11% to 11.5% of their ordinary time earnings (OTE).

This increase is part of the incremental rises we have been seeing over the last few years until superannuation guarantee reaches a rate of 12% by 1 July 2025.

Where to next?

Chat to us about how to stay compliant and learn about our HR services, which includes:

1. 1. HR and WPR consultation, advice and strategy
   2. Conflict management solutions including handling complaints
   3. Strategic policies and procedures
   4. Culture check and review
   5. HR compliance training and support