HV Industry Awards Set To Jump 3.75PC From July 1

The Fair Work Commission this week announced a 3.75 per cent increase to the national minimum wage and award minimum wages following its 2023-2024 annual wage review.

HVIA Employer Assist provider Industry Legal Group says the increase will apply from the first full pay period starting on or after July 1, 2024.

Importantly, increases for the Vehicle Repair, Services and Retail Award, Clerks Private Sector Award, and Manufacturing and Associated Industries and Occupations Award will operate from July 1, 2024.

Employers already paying employees more than the minimum award rate may be able to absorb the increase depending on the particular employment arrangements.

If a registered agreement applies to the workplace, employers will need to ensure the minimum base rates in the agreement remain at least equal to the base award rates. If not, the agreement rates will need to be increased to at least match the base award rates, Industry Legal Group explains.

For Award-free employees, the new national minimum wage (NMW) which will apply from the first full pay period starting on or after July 1, 2024 will be $915.90 per week or $24.10 per hour. The NMW applies to employees who aren’t covered by an award or registered agreement.

Additionally, Industry Legal Group notes that the Superannuation Guarantee rate is set to increase to 11.5 per cent on July 1, 2024.

Employers are advised to start reviewing current wage arrangements to determine whether the increase can be absorbed or not.

Updated pay guides will be shared with HVIA members once the FWC publishes the variation determinations.

If you require assistance, contact Employer Assist on (07) 3376 6266 or hvia@employerassist.com.au.

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