Changes for businesses coming on 1 July 2023

From 1 July 2023, the National Minimum Wage will increase by 5.75%. This means the new National Minimum Wage will be $23.23 per hour, or $882.80 per week.

This increase will apply from the first full pay period starting on or after 1 July 2023. This means if your weekly pay period starts on Monday, the new rates will apply from Monday, 3 July 2023.

Most employees are covered by an award – awards are legal documents that outline minimum pay rates and conditions of employment in specific industries or occupations. On 1 July 2023, minimum award wages will increase by 5.75%.

Your business can get bill relief if you meet the small business electricity usage criteria in your state or territory.

You don’t need to do anything – if you are eligible, you will automatically receive bill relief on your electricity bills from 1 July 2023.

From 1 July 2023 the superannuation guarantee rate will increase from 10.5% to 11%. 

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

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 place from 1 July 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.