15 Jun 2016 ANNUAL WAGE REVIEW
The Fair Work Commission has released the 2016 Annual Wage Review decision under the Fair Work Act, 2009 on 31 May 2016. This is the seventh annual minimum wage review to be conducted by the Fair Work Commission.
This decision increases the modern award wage rates by 2.4% and the national minimum wage from $656.90 to $672.70 per week, being $17.70 per hour, based on a 38 hour working week. This constitutes an increase of $15.80 per week.
Last year’s increase was 2.5%.
The ACTU were seeking an increase to the national minimum wage to $686.90 a week or $18.07 per hour.
The increased rates will take effect from the first full pay period starting on or after 1 July 2016.
All Members should ensure they meet the new minimum obligations from 1 July 2016. Please remember, the increase is fully absorbable into over award payments.
TTIA Members with digests will be sent new wage summary sheets in due course. In the meantime, if you have any questions, please contact the TTIA on (02) 9264 0011.