FAIRWORK – JUL 2024
FAIRWORK
Minimum wage increases from 1 July – Fair Work Ombudsman
The Fair Work Ombudsman is reminding employers that a 3.75 per cent minimum wage increase be applied to eligible employees’ pay from the first full pay period starting on or after 1 July 2024.
The new National Minimum Wage is $915.90 per week (based on a 38-hour week for a full-time employee), or $24.10 per hour. The rates have increased from $882.80 per week and $23.23 per hour. Casual employees entitled to the National Minimum Wage must receive a minimum $30.13 per hour, which includes 25 per cent casual loading.
The National Minimum Wage is the base rate for adult employees in the national system who are not covered by an award or registered agreement.
SERVICES AUSTRALIA
Paid Parental leave Payments
From 01 July 2024, the paid parental leave payment will increase to $183.16 a day before tax or $915.80 per 5-day week. This is based on the weekly rate of the national minimum wage.
PAYROLL TIMESHEET
Hiding Pay Items Not Used Regularly
This feature hides Pay items that are not used regularly on the timesheet. It ensures a quicker loading experience which is especially beneficial if you have many different pay items on your account.
Once enabled, additional pay items required for the payroll can be added seamlessly for that pay run while processing the timesheet.
Items such as leave, time and attendance details and standard payments will load automatically.
NEW / AMENDED REPORTS
STP Report
After receiving user feedback on ways to improve the end-of-year reconciliation, we have added an additional column to the STP report.
The new column is for ETP PAYGW and will allow users to easily compare the STP Report with the STP Totals
Reconciliation Report.
STP Totals Reconciliation Report
Under STPv2 requirements, detailed itemised reporting needs to be provided to the Australian Tax Office (ATO). The new STP Totals Reconciliation report assists in the reconciliation of the data.
The data is displayed based on the STP date, but the period end date can also be selected. This report replaces the old Totals Reconciliation report.
