Business need to be aware of changes that came into effect on 1 July 2014:
The national minimum wage for adults is now $16.87 per hour or $640 per week. For employees paid under an Award this applies from the first pay period after July 1.
Casual loading for award-free employees is now 25%.
All employers are obligated to ensure that they are paying employees in accordance with the national Awards and that employees not paid in accordance with Awards are being paid appropriately.
Employees who earn more than the high income threshold (currently $133,000 and adjusted annually) may not be eligible to lodge an unfair dismissal application with the Fair Work Commission. Instead, they may need to ake private legal action through the Federal Court for unlawful termination of their employment contract. Our employment lawyers can advise you which option is appropriate for your circumstances.
From July 1 the employer contribution to superannuation is 9.5%. As directors of employer companies are personally liable for superannuation guarantee contributions, it is essential to ensure that the correct contributions are being made.
The next increase is superannuation contributions will be July 2018.