June IR Insights: Minimum Wage Increase & Paid Parental Leave

Minimum Wage is on the rise in AUS

We’re sure it’s no surprise to you by now that the Fair Work Commission announced a rise in the national minimum wage, and all minimum Award wage rates, by 3.75% from the first full pay period in July. This is likely to affect almost a quarter of employees across Australia, who are paid at the minimum wage rates. 

Fair Work reviews wage rates every year, taking submissions from experts and interest groups, and considering factors like living standards, costs and workforce participation, before landing on a decision in early June.  

It’s understandable that the FWC want to ensure those earning the least in this country can survive, in the current cost of living crisis, but it’s no secret that many SME’s are among those struggling, and this is just more added pressure.  

If you need a hand understanding what you need to do to ensure you’re paying enough come July 1 reach out to us at Streamline HR.  

Paid Parental Leave is increasing in NZ

Over in New Zealand, parents will be pleased with the maximum rate for paid parental leave increasing from $712.27 to $754.87 per week, starting in July. That’s a whopping 6% increase.  

The increase is legislated under the Parental Leave and Employment Protection Act 1987 where eligible parents receive payment equal to their normal pay, up to a maximum rate (now $754.87) for a period of up to 26 weeks.  

Many families are doing it tough in NZ right now with a recession in full swing, so this gives them a little piece of mind, and the extra support they need to give their bubs the best start in life.