4 June 2019 wage review provides 3% increase to minimum wage rates June 4, 2019 By Reef Admin Fair Work Act, Fair Work Commission decisions 0 In its 10th annual Minimum Wage Review, the Fair Work Commission has announced that the minimum rates under modern awards will be increased by 3%. Modern award rates of pay Minimum wage rates in modern awards will be increased by 3% with weekly rates rounded to the nearest 10 cents. This will take, for example, the new minimum rate of pay for Real Estate Employee - Level 2 to $862.50. This is an increase of $25.10 per week. The increased wage rates are operative from the first full pay period commencing on or after 1 July 2019. Under most awards, junior employees receive a percentage of the minimum award rate of pay. As a consequence, these employees will also receive a proportion of the increase in minimum rates. Employees to whom a training arrangement applies and who are covered by the National Training Wage Schedule within a modern award will have their rate adjusted by 3%. Allowances Modern awards provide that an increase to expense related allowances must be considered at the time of an adjustment to the standard rate in the award. To determine the extent of any increase, the relevant adjustment factor is the percentage movement in the applicable index figure most recently published by the Australian Bureau of Statistics since the allowance was last adjusted. The Fair Work Commission will publish draft determinations concerning increases to expense related allowances shortly. Absorption of above award payments Members who are paying an employee a rate of pay in excess of the award minimum are able to absorb the 2019 minimum wage increase into those above award payments, so long as the employee continues receiving a wage equal to or above what they are entitled to receive under the applicable modern award. Your new wage rate booklet In keeping with our usual practice, REEF will produce a revised wage booklet once we have calculated and reviewed the increases that apply to specific classifications under the two awards applicable to our industry. While we will be making every effort to have this booklet posted to you by the operative date of 1 July 2019, given the complexities and logistics associated with the exercise, it may not be received until after this date. To help members prepare for the operative date of increases on 1 July 2019, we will upload the new wage rate schedules as soon as possible to the People Management System. When this happens, we will notify you immediately. Related Fair Work Commission hands down Award review decision The wait is over! The Fair Work Commission has handed down its decision regarding the statutory review of the Real Estate Industry Award. Here are the details. Absorbing the annual wage increase Minimum wage rates increased by 3.5% on 1 July 2018, but what if you're already paying an employee more than the award minimum? Can the increase be absorbed into those above award payments? Don't be left in the dark: New industry award starts on 2 April 2018 After a long battle, the Fair Work Commission has now finalised the four-year review and the Real Estate Industry Award 2015 will commence on 2 April 2018. Big changes are ahead. Here's what you need to know. Real Estate Industry Award: Out with the old, in with the new After a long battle, the Fair Work Commission has now finalised the four-year award review and the new Real Estate Industry Award will commence on 2 April 2018. Here's what you need to know before the changes kick in. Commission-only employees: It's time for their MITA review The Real Estate Industry Award requires employers to conduct an annual review to determine if their commission-only employees can continue to be paid on a commission-only basis. Real Estate Industry Award review gets serious One subject that seems to have been a continual focus of attention for the past 18 months is the review of the Real Estate Industry Award by the Fair Work Commission. This is a statutory review that must take place every four years. Comments are closed.