Minimum Wage increase 1 April 2021
As a business owner or manager, you need to be ready for the increase in minimum wage rates from Thursday, 1 April 2021.
Now more than ever there seems to be information overload for small
business. COVID subsidies, end of financial year preparation underway GST due.
The details of the increase are:
* Adult minimum wage will go up, from $18.90 to $20.00 per hour.
* Starting-out and training minimum wage will go up from $15.12 to $16.00 per hour.
* All rates are before tax and any lawful deductions for example PAYE tax, student loan repayment, child support.
Now is the time to review your employee rates and check to ensure your employment records, processes and payroll is up to date.
If you need help reach out to your Bookkeeper or Accountant first. We are also here if you would like to have a chat.