Employgroup Blog

Queen's Long Weekend

05 / 6 / 2015

Double demerit points are enforced before the Queen’s Birthday weekend from Friday, June 5 to Monday, June 8.  

Increase of 2.5% to the national minimum wage

02 / 6 / 2015

The Fair Work Commission's Minimum Wage Panel today increased all Modern Award minimum wage rates and the Federal Minimum Wage by only 2.5%. CPI is currently running at 1.3% and wage growth of 2.3%.

From the first pay period commencing on or after 1 July 2015, the national minimum wage will increase to $656.90 per week, or $17.29 per hour.

Business groups proposed an increase of between 0.9% and 1.6% or $5.77 to $10.27 a week. The ACTU had asked for a 4.2% increase and an additional increase to superannuation rates.


What this means for you

Modern Awards

Employees on Modern Award rates will need to have those rates increase in line with the decision.

Annualised Salaries and Individual Flexibility Agreements

Employees on Individual Flexibility Agreements, will need to have their rates reviewed to ensure employees remain "better off overall" when compared to the new Modern Award rates.

Enterprise Agreements

Enterprise Agreement minimum base rates need to be reviewed to ensure that they remain at least equal to the new Modern Award rates.

Allowances

Many Modern Award allowances are expressed as a percentage of the "standard rate". These allowances will therefore need increase in line with the increase in the standard rate. 

 

8 Tips for a smooth 2015 End of Financial Year

25 / 5 / 2015

End of Financial Year (EOFY) can be a very busy and stressful time for Finance Departments and Payroll professionals. The work load doubles, not only does the payroll still need to happen, you have to produce your employees annual Payment Summary. This involves everything from balancing the books for the past 12 months through to ensuring employees receive their payment summaries by the 14th July. A 14 day window to do twice the amount of work, can be overwhelming. 

8 INSIGHTS from Employgroup Chairman Dean Morelli on the 2015-2016 Budget

13 / 5 / 2015

After last year’s budget this one has a lot more sugar and less nasty medicine.  There are some notable changes imbedded in the Budget that are worth being aware of. 

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