National Minimum Wage Increase Factsheet [2023]

What does the National Minimum Wage Increase Factsheet cover?

On Friday 2 June, 2023, the Fair Work Commission (FWC) delivered a substantial increase to the Australian national minimum wage and minimum award rates in its annual wage review.

So, what does the recent national minimum wage increase mean for your business? If you’re looking for a quick-read version of these changes, this factsheet is for you.

In this easy-to-understand factsheet, we’ll cover:

• Changes to the Modern Award Minimum Wage
• Changes to the National Minimum Wage
• When the changes come into effect
• What it means for Australian employers

Disclaimer: The information in this article is current as at 5 June 2023, and has been prepared by Employment Hero Pty Ltd (ABN 11 160 047 709) and its related bodies corporate (Employment Hero). The views expressed in this article are general information only, are provided in good faith to assist employers and their employees, and should not be relied on as professional advice. The Information is based on data supplied by third parties. While such data is believed to be accurate, it has not been independently verified and no warranties are given that it is complete, accurate, up to date or fit for the purpose for which it is required. Employment Hero does not accept responsibility for any inaccuracy in such data and is not liable for any loss or damages arising either directly or indirectly as a result of reliance on, use of or inability to use any information provided in this article. You should undertake your own research and to seek professional advice before making any decisions or relying on the information in this article.