Fair Work Increases Minimum Wage by 3.5% as of July 2018
On Friday 1 June 2018, the Fair Work Commission increased the national minimum wage by 3.5 per cent from $694.90 to $719.20 per week. The change applies to employees that get their pay rates from the national minimum wage, a modern award or in some cases a registered agreement. If you’re not sure which award applies to your employees you can use Find my award on the Fair Work website. PaysOnline’s managed payroll solution can help mitigate compliance issues, keep reading to find out how we can assist you.
The increased pay rate will apply to base rates of pay from the first full pay period starting on or after 1 July 2018. Once Fair Work releases the new rates for each award we will update them in the PaysOnline system.
PaysOnline managed payroll can assist in ensuring that you correctly pay your employees against their respective award classification. To easily manage the increase in employee wages, PaysOnline have two tools available for you to use – Pay Rate Admin and the Pay Rate Validation. Both tools allow you to see what rates you’re currently paying and whether any changes should be applied.
Applying the new pay rates is easy and there is no need to update employees individually. PaysOnline’s pay tools allow you to perform bulk updates for employees with just a few clicks, freeing up time for you to spend on more important things. Users simply choose the award and classification and apply the prescribed rates to each employee.
PaysOnline managed payroll solution helps take the stress out of payroll. Contact PaysOnline today for a customised solution!
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