[Australia] Changes for businesses from July 1

In Australia, a number of changes that businesses should be aware of came into force on July 1, 2023. They include changes to the national minimum wage, super guarantee rate and business name fees, Business.gov.au reports.

National Minimum Wage increase

From July 1, 2023, Australia’s National Minimum Wage will increase by 5.75 per cent. The new National Minimum Wage will be $23.23 per hour or $882.80 per week.

This increase will reportedly apply from the first full pay period starting on or after July 1, 2023. If a weekly pay period begins on a Monday, the new rates will apply from Monday, July 3, 2023.

Further information about the minimum wage increase is available here.

Award minimum wage increase

In Australia, the majority of employees are covered by an award. Awards are legal documents outlining minimum pay rates and conditions of employment in specific industries or occupations. On July 1, 2023, minimum award wages will increase by 5.75 per cent.

Further information about the award minimum wage increase is available here.

Energy Bill Relief Fund for small businesses

Businesses are entitled to receive bill relief if they meet the small business electricity usage criteria in their state or territory.

No action needs to be taken, if businesses are eligible they will automatically receive bill relief on their electricity bills from July 1, 2023.

Further information about the Energy Bill Relief Fund is available here.

Super guarantee rate increase

From July 1, 2023, the superannuation guarantee rate will reportedly increase from 10.5 per cent to 11 per cent. 

Further information about super guarantee rates is available here.

Business name and company registration fees

The Australian Securities and Investment Commission will increase company fees and business name fees from July 1, 2023, in line with an increase in the Consumer Price Index (CPI) for the March quarter.

Further information about the company and business name fees increase is available here.

Changes to workplace laws

The Australian Government has passed an amendment to the Fair Work Act to change a number of existing rules and introduce a range of new workplace laws. 

Changes coming into effect from July 1, 2023, include changes to the small claims procedure. The cap on the amount that can be awarded through small claims court proceedings will increase from $20,000 to $100,000, making the small claims procedure available to a greater number of workers. 

Further information about the changes to workplace laws is available here.

Source: Business.gov.au

(Links via original reporting)

In Australia, a number of changes that businesses should be aware of came into force on July 1, 2023. They include changes to the national minimum wage, super guarantee rate and business name fees, Business.gov.au reports.

National Minimum Wage increase

From July 1, 2023, Australia’s National Minimum Wage will increase by 5.75 per cent. The new National Minimum Wage will be $23.23 per hour or $882.80 per week.

This increase will reportedly apply from the first full pay period starting on or after July 1, 2023. If a weekly pay period begins on a Monday, the new rates will apply from Monday, July 3, 2023.

Further information about the minimum wage increase is available here.

Award minimum wage increase

In Australia, the majority of employees are covered by an award. Awards are legal documents outlining minimum pay rates and conditions of employment in specific industries or occupations. On July 1, 2023, minimum award wages will increase by 5.75 per cent.

Further information about the award minimum wage increase is available here.

Energy Bill Relief Fund for small businesses

Businesses are entitled to receive bill relief if they meet the small business electricity usage criteria in their state or territory.

No action needs to be taken, if businesses are eligible they will automatically receive bill relief on their electricity bills from July 1, 2023.

Further information about the Energy Bill Relief Fund is available here.

Super guarantee rate increase

From July 1, 2023, the superannuation guarantee rate will reportedly increase from 10.5 per cent to 11 per cent. 

Further information about super guarantee rates is available here.

Business name and company registration fees

The Australian Securities and Investment Commission will increase company fees and business name fees from July 1, 2023, in line with an increase in the Consumer Price Index (CPI) for the March quarter.

Further information about the company and business name fees increase is available here.

Changes to workplace laws

The Australian Government has passed an amendment to the Fair Work Act to change a number of existing rules and introduce a range of new workplace laws. 

Changes coming into effect from July 1, 2023, include changes to the small claims procedure. The cap on the amount that can be awarded through small claims court proceedings will increase from $20,000 to $100,000, making the small claims procedure available to a greater number of workers. 

Further information about the changes to workplace laws is available here.

Source: Business.gov.au

(Links via original reporting)