Wages & Super Increase – July 2022
All employers should be aware that increases to National Minimum Wage and minimum award rates will be applied from the first full pay period commencing on or after 1 July 2022. The Fair Work Commission has not yet determined the increase amount but we are expecting this to be publicly available in late June.
Also from 1 July 2022, compulsory employer superannuation contributions will increase from 10% to 10.5% and will continue to increase by 0.5% each financial year until contributions reach 12% in 2025. You can find out more about the further increases on the ATO website.
Finally, the $450 minimum income threshold will also be removed from 1 July 2022. This means all employees will have an equal entitlement to superannuation contributions by their employer, regardless of their income. Read more on the ATO website here.
Employers should ensure ahead of time that payroll systems are correctly setup to handle the changes.
Recruitment Solutions – Coming Soon!
Edwards HR has experienced significant growth in the last 6 months and there is no sign of things slowing down. So, the next 6 months will see us establish a dedicated heavy industry Recruitment team delivering a value-add service that is suited to what clients are seeking. Watch this space!
In the meantime, we would love your input about how we can best deliver our recruitment service – please feel free to take our survey here!
Quick Guide to Paying People Properly
Navigating Awards and trying to work out how to pay people properly can be a minefield, but our Quick Guide answers the most commonly asked questions and provides the right steps to help you get it right. With the Fair Work Ombudsman’s increased focus on wage compliance, we would strongly encourage you to have a read – you can find the Guide here.
Quick Guide to Paying Flat Rates
In some industries, Employers find that flat rates are the best option when paying their employees. In fact, around half of Edwards HR’s clients pay some form of flat or loaded rate to some of their employees. There is a lot people don’t realise about flat rates, so we have put together this Quick Guide to help you understand how flat rates work, your obligations and what you can do to ensure your employees are being paid properly. Read the Quick Guide here.
As always, the team at Edwards HR are here to answer your questions and provide support across all areas of HR. You can reach us on 07 3568 0866 or admin@edwardshr.com.au.
