From 1 July 2023, Award rates of pay will increase by 5.75%. Some employees who are covered by an Award are paid an annualised salary rather than Award rates. As an annualised salary includes all entitlements under the relevant Modern Award, employers who pay annualised salaries to Award employees will need to ensure that these salaries continue to meet an employee’s minimum entitlements.
These changes to Award rates of pay provide employers an opportune time to review employment agreements and annualised salaries.
Please contact Heather Richardson should you require advice on the changes to Award rates.