Min Wage Increase

Minimum Wage Increase

Written by: Institute of Certified Bookkeepers

The Fair Work Commission has Announced a 2.5% Increase to Minimum Wages.

On 16th June 2021, the Fair Work Commission’s announced that the national minimum wage, and minimum wages set out in modern awards, will increase by 2.5%.

The increase applies to anyone who is paid minimum award wages or the national minimum wage, with the new national minimum wage will apply from 1st July 2021.

The wage increase takes effect from the first full pay run/period that starts on or after 1st July 2021.

Most employees are covered by an award but if employees are covered by a registered agreement, employers and employees need to check it to see whether this increase affects them. Also note, the increase doesn’t affect employees who already get paid more than their new minimum wage.

For anyone not covered by an award or an agreement, the new national minimum wage will be $772.60 per week or $20.33 per hour.

As per the Fair Work Commission’s announcement most awards will increase from 1st July 2021. Wages in the Retail Award will increase from 1st September 2021 and the rates in 21 other awards for some industries impacted by coronavirus restrictions the increase will be delayed until 1st November 2021.

If you enjoyed this article and would like to see others, then click on the link below.

Accountability BAS and Bookkeeping Services provide professional bookkeeping and BAS services to businesses in most Australian states.

What our clients say about us…

“I had the pleasure of being introduced to ABBS through Jo Bacon the WA representative. The professional service.  I have received has been so essential in assisting me with my new business, I am so grateful for the expertise, professionalism and excellent customer service I have experienced.” Marion B

“Thanks to Steve Cocks from ABBS we managed to get all the books up to date and in no time, … and that took the weight off my shoulders so I could focus on developing my business and moving forward in a more organized and structured way, keeping on top of things every month which makes life much easier.”  Elisabeth G

“As an ex-bookkeeper, I’m pretty fussy about how I like things done and I’ve found Caran from ABBS to be a pleasure to work with. She’s competent and efficient and now that I have her helping me with the bookkeeping for my business, I wouldn’t be without her.”  Sandy T

    “As a sole director of a regional law firm,  I’m very conscious of the need to have the proper business support, particularly in the areas of bookkeeping and trust accounting. Since I outsourced those components of my business to ABBS, I feel as if these vital components of my business are in expert hands and I can relax knowing that it is all being done properly , efficiently and legally.  Rob’s expertise with running a business including his insight with managing employees, his ready availability for a discussion at any time on any business matter, his advice and support, have been absolutely invaluable to CastleGate Law.  In addition, Janice from ABBS looks after my trust accounting through Leap with equal efficiency and expertise – she and Rob make a great team for any law firm.  Not only do I feel like I’m sharing the considerable burden of running a law firm, but I feel like in Rob I have someone on my side as a business owner, because of his implicit understanding of business matters, his encouragement and support. For all these reasons I cannot recommend ABBS highly enough as additions to any law firm or business partner. ”  Kate R

If you would like a brief chat or schedule an online meeting, then call me on:

1300 0 ABBS 0

(1300 022 270)

If you would like to get an instant quote:

To be able to provide you with a relatively accurate quote, we will need you to provide some core information that is used for this purpose only.

We suggest you have the bank statements or closely estimate the number of transactions on all business bank accounts and credit cards for the last three months.

2017 Queensland Bookkeeper of the Year Finalist
Registered BAS Agent
Xero Logo