National Minimum Wage increase

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.

Award minimum wage increase

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%.

Energy Bill Relief Fund for small businesses

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.

Super guarantee rate increase

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

Business name and company registration fees

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.

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 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. 

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