20/21 minimum wage increase is 1.75%

The Fair Work Commission has announced a 1.75% increase to the National Minimum Wage following its 2020 Annual Wage Review.

The increase will apply to the first full pay period on or after the dates below depending on the industry the award covers, a sample of which is listed here:

1 July 2020	1 November 2020	1 February 2021
Frontline Health Care & Social Assistance Workers	Construction	Accommodation and Food Services
Teachers and Child Care	Manufacturing	Arts and Recreation Services
Other Essential Services	Clerks private sector award	Aviation, Retail, Tourism

For anyone not covered by an award or an enterprise agreement, the new national minimum wage will be $753.80 per week or $19.84 per hour.

This applies from the first full pay period on or after 1 July 2020

Find out more – fairwork.gov.au

If you’re not sure which award applies, use find my award

Pay rates and award conditions are complex. If you are in any doubt consult with the Fair Work Commission or contact MWM Advisory for a referral to a trusted employment lawyer.

Celebrate the End of Financial Year with your team and ours

The End of Financial Year (EOFY) is upon us. For business owners, like you and I, there are many moving parts to be aware of. There are yearly financial statements to create, taxes to pay, deductions to claim, and documentation to submit to the ATO.

Team member in the spotlight – Borim Choi

In this series we’re spotlighting a different MWM team member each month, so you can get to know the team a little better.

Say hello to Borim Choi, Accountant.

30 June is coming – what’s your game plan?

End of Financial Year Tax Planning. While Covid-19 and the uncertain business landscape it created made planning difficult, what we can say with certainty at MWM is that in our experience those who had a plan have navigated the past two years more successfully than those who didn’t.