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EOFY compliance reminders

Australian cash and a yellow rod sign that says end of financial year. WorkPlacePLUS branding.

The end of financial year and the end of calendar year are optimal times to review your HR systems and processes to ensure you are paying your staff correctly. This can include checking new pay rates and superannuation requirements, reviewing employment contracts and agreements, and auditing your payroll transactions.

Please note, the Fair Work Commission (FWC) has announced:

➤ the National Minimum Wage will be increased to $882.80 per week or $23.23 per hour

➤ a 5.75% increase to minimum award wages.

The increases apply from the first full pay period starting on or after 1 July 2023. The new pay rates for awards will be released by the FWC from 1 July, 2023. To receive your new 2023 pay guide, please ensure you are subscribed to the WorkPlacePLUS newsletter. Click here to subscribe >

A few other reminders:

➤ From 6 June 2023, under the Secure Jobs Better Pay Act there are changes related to:

  • requesting flexible working arrangements

  • extending unpaid parental leave

  • agreement-making

  • bargaining

➤ From 6 June 2023, direct care and some senior food services employees in the aged care sector will receive a 15% wage increase.

➤ From 1 July 2023, the Paid Parental Leave scheme is changing.

➤ From 1 July 2023 the superannuation guarantee rate will increase from 10.5% to 11%.

Neon green button and black QR code. Compliance Checklist - Access the Free Download.

Employees must be paid at least their minimum pay rates and entitlements. For more information, please contact us today.

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