06/08/2024
From 1 July 2024 a number of new laws and amendments to existing laws will come into effect. These include:
- Superannuation increase: The superannuation guarantee rate will increase from 11% to 11.5% from 1 July 2024. Employers must pay employees superannuation into a superannuation fund in an amount of 11.5% of their ordinary time earnings.
- Minimum Wage increase: The National Minimum wage and Award Minimum wages will increase by 3.75% from the first full pay period commencing on or after 1 July 2024. Employers with Enterprise Agreements must ensure the rates of pay in an enterprise agreement is at least as high as the new minimum wages as applicable.
- Parental Leave: The Government’s Paid Parental Leave scheme will increase from 100 days (20 weeks) to 110 days (22 weeks). This applies to children who are born or adopted after 1 July 2024.
- High income threshold for unfair dismissal: The high income threshold will be increased to $175,000. This means that employees that earn more than $175,000 will not be protected from unfair dismissal, unless an enterprise agreement or Award applies to them.
Additional changes in the employment space will come into effect from 26 August 2024, including introduction of the right to disconnect, changes to the definition of “casual employee” and how to determine if an employee is an independent contractor or employee.
Contact Griffin Legal’s team of employment law experts for further advice on how we can assist your organisation.