July 1 sees the increase of award wages and changes to superannuation obligations. Below are a few paragraphs on these changes for your reference.
Each financial year a minimum wage panel within the Fair Work Commission (FWC), which was formerly known as Fair Work Australia, is responsible for reviewing and setting minimum wages for all employees under the national workplace system.
As part of the Fair Work Act 2009, the minimum wage panel will review the minimum wage order, current modern award minimum wages for all employees covered under Fair Work before a decision is made. This financial year, 2013-2014, the FWC has announced a decision that a 2.6% wage increase to the national minimum wage for all modern awards will come into effect from the first pay period starting on or after July 1st 2013.
July 1st 2013 also reflects the final phase of the transitioning process in which the Australian work system is phasing out the old award and bringing into effect the Hair and Beauty Modern Award. This means that all employers are required to re-calculate their wage rates to match not only the increase but the new penalty rates which will affect your salon.
Additionally, all employers must be aware that super obligations are changing. Employers will need to increase the compulsory superannuation payments made on behalf of employees from 9% to 9.25%. This will be the first increase of several increases which will occur over the next seven years. Employers should also be aware that super guarantee contributions must be made for all employees who are 70 years old or over.
Vanessa Rengger, Hair & Beauty Australia 1800 997 795, www.hairandbeautyaustralia.com.au
Fair Work Ombudsman 13 13 94, www.fairwork.gov.au