Is your business using the correct award rates?
July 26, 2017
Happy new financial year! We hope last years was financially prosperous and here’s to another exciting year ahead. However, as it is the new financial year, it’s time to ensure that you’re paying up to the correct award rates.
Here is a quick how-to-guide that we’ve put together to make sure you are up to date with the current rates!
To find your minimum pay rates:
- Head over to the Fair Work Pay Calculator
- Enter in your award or utilise the built-in tool to help you find your award.
- Follow through the steps for each employee or employee type till you get to the end and compare that to your staff’s pay rate in your HR files and payroll software.
- If there is a change, make sure you enter in the new award pay rates for your staff in their HR files and update your payroll software.
- Feel free to give us a call if you have any questions about this process, your award, or anything else.
For our clients in the Hospitality, Restaurant, Fast Food, Retail and Pharmacy industries, make sure you look through the updated penalty rate changes here. We’re looking forward to working with you into the future and to ensure you achieve all your business goals, and a beautiful future!
This document contains general advice only and is prepared without taking into account your particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. Before making any decision based on this information, you should speak to a licensed financial advisor who should assess its relevance to your individual circumstances. While The Field Group believes the information is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this bulletin is not considered financial product advice for the purposes of the corporations Act 2001.