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Minimum Wage Review 2021 And Increase To Superannuation Rate

Payroll and leave entitlements compliance guide for employers

National Minimum Wage Review

On Wednesday 16 June 2021, the Commission handed down its 2021 Annual Wage Review Decision, which will see the National Minimum Wage and pay rates in all Modern Awards increase by 2.5%.

For employees that are award free, the the new national minimum wage will be $772.60 per week or $20.33 per hour.

The above increases will take effect in three stages.

  • The minimum wages in the General Retail Award will increase on and from 1 September 2021.
  • The minimum wages in the 21 Modern Awards listed HERE will increase on and from 1 November 2021.
  • The minimum wages for all other Modern Awards will increase on and from 1 July 2021.

 

Superannuation Guarantee Rate Increase

On and from 1 July 2021, the Superannuation Guarantee Rate will increase to 10% from its current rate of 9.5%.

The Rate is scheduled to increase 0.5% each year until July 2025 when it will reach 12%.

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