FinanceMinimum Wage

Minimum Wage in Australia

Minimum Wage in Australia

Minimum Wage in Australia in 2018 is increased by Fair Work Commission is $18.93 per hour and this is updated on 1st July 2018. In the previous financial period or before 1st July the Minimum Wage per hour in Australia was $18.29 which gives a total earning amount of $694.40 per week for a working person. Australia is on world second position with maximum amount in Minimum Wages.

READ: Finance Lease – Example, IFRS, Types

But after getting hike in Minimum Wages in Australia from 1st July 2018 the weekly earning for a person goes $719.20. Also this hike in Minimum Wage is increasing periodically.

Minimum Wage in Australia

History of Wage in Australia

Hike in the wages in Australia is regular as per country growth and revenue. In this history, Federal Minimum Wage announce the Minimum Wage on 1st October 2007 as $13.74 per hour and $522.12 per week and consider as 38 working hours in a week.

And then the wages got some hike after one year on 1st October 2008 as $14.31 per hour and $543.78 per week wages in Australia.

In 2009, there was Fair Work Act was planned and in action and in same 2009 there was no hike in the wages.

Fair Work Act 2009 in Australia

Before 2009, there was Howard Government’s rules and policies are working in the Work Choices but when the Rudd Government comes in power in 2007 than they starting making their plans about employment sector and in 2009, Rudd Government introduces The Fair Work Act 2009 which was a new form of Jobs and Employment sector with all new rules, policies and conditions. This was started on 1st July 2009.

READ: Structured Financing – Explained, Investment Banking, Real Estate, Products

And in 2009, there was no hike in the Wages of Australian Minimum Wage graph.

But after 2009, there was a regular and good benefits comes in as Minimum Wage increment which gives lots of benefits to the per day workers and per week workers.

On 1st July 2012 with the introduction of new wages, there was some conditions comes in actions as the wages got different as per the position of the worker like its different for young, adult, trainees etc. And people having some disability are in another category of wages. Living conditions and their locations are also some factors of calculating their wages and their wages can be low as per government defined minimum wage i.e. $15.96 per hour and $606.40 per week.

In July 2013, there was some hike observed in the Wages in Australia but still the conditions are same for category division and wages division as per their category. And wages are like $16.37 per hour and $622.20 per week.

In 2014, when the new wages are announced, as $16.87 per hour salary and $640.90 per hours’ wages for 36 hours working. Now the living conditions and candidate location is excluded from the category division method and only new rates apply as per the position of the worker in the company as like trainees, adult, young etc. But disability is also a condition persists here.

After 2014, when the new hike in minimum wages comes in action then all the conditions was removed and the minimum wages are fixed to per person in Australia. Now no disability factors work more in the salary period.

READ: Business Financing – Options, Types, Small, Loan, Startup

The latest Minimum Wages in Australia was increased by Fair Work Commission and at the time of writing this article was applicable from 1st of July 2018 and are mentioned above.

Tags
Show More

Harish Yadav

Finance and market analyst and chief writer on howtofinance. Passionate to read books and articles on marketing and accounting. Also edits other articles and publish them here.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Adblock Detected

Please consider supporting us by disabling your ad blocker