National Minimum Wage increase
From 1 July 2023, the National Minimum Wage will increase by 5.75%. This means the new National Minimum Wage will be $23.23 per hour, or $882.80 per week.
This increase will apply from the first full pay period starting on or after 1 July 2023. This means if your weekly pay period starts on Monday, the new rates will apply from Monday, 3 July 2023.
Super guarantee rate increase
From 1 July 2023 the superannuation guarantee rate will increase from 10.5% to 11%.
Business name and company registration fees
In line with an increase in the Consumer Price Index (CPI) for the March quarter, the Australian Securities and Investment Commission will increase company fees and business name fees from 1 July 2023.
- Annual Review fee for a Proprietary company $310
- Late payment fee for up to one month late $93
- Application for registration as an Australian company $576
- Registration or renewal of Business name (1 year) $42
- Registration or renewal of Business name (3 years)