From 1 July 2024, employers should be aware of several important changes that have come into effect, including increases to the minimum wage and superannuation rates, tax cuts, WHS changes as well as other requirements, penalties and incentives.

For July, this includes:

National Minimum Wage

From 1 July 2024, the National Minimum Wage increased and is applied from the first full pay period starting on or after 1 July 2024. ACFA has updated our Award Snapshots for our Members to incorporate the new rates, which can be downloaded by logging into the ACFA Member Portal: 

Super guarantee rate

From 1 July the superannuation guarantee rate increased from 11 per cent to 11.5 per cent.

Unfair dismissal high-income threshold

From 1 July the threshold increased from $165,500 to $175,000.
The maximum compensation that can be awarded by the Fair Work Commission will rise from $83,750 to $87,500.

General protection claims are uncapped.

The high-income threshold operates as a limit to an employee’s eligibility to be protected from unfair dismissal under the terms of the Fair Work Act.

If an employee is not covered by a modern award, or if an enterprise agreement does not apply to them, they must have an annual rate of earnings of less than the high-income threshold.

Increase to the Fair Work Commission filing fees

From 1 July 2024, the filing fee for dismissal, general protections, bullying and sexual harassment at work applications has increased to $87.20.

Stage 3 tax cuts

From 1 July 2024, Australian taxpayers will receive a tax cut. The changes will:

  • reduce the 19 per cent tax rate to 16 per cent.
  • reduce the 32.5 per cent tax rate to 30 per cent.
  • increase the 37 per cent tax threshold from $120,000 to $135,000.
  • increase the 45 per cent tax threshold from $180,000 to $190,000.

Engineered Stone Ban

From the 1 July 2024 Australia banned the use, supply, and manufacture of engineered stone.

The ban will apply to engineered stone benchtops, slabs and panels. For further information including links for each states and territory’s requirements. 

Environmentally Sustainable Procurement Policy

The Australian Government’s new Environmentally Sustainable Procurement Policy will take effect from 1 July, meaning if your business supplies goods or services to the government, this you’ll be required to undertake activities to substantiate environmental claims and demonstrate compliance with the policy.

From the 1 July 2024 the amount of paid parental leave offered by the Federal Government for eligible workers has increased from 20 to 22 weeks. The paid parental leave scheme will continue to increase by two weeks on 1 July of each year until 1 July 2026, when it reaches 26 weeks.

Australian Apprenticeship Incentives System

From 1 July 2024 the Australian Apprenticeship Incentive System will move to Phase 2.

Priority occupation employers and apprentices that take up an apprenticeship from 1 July 2024 can claim up to $5,000 for full-time apprentices and lower rates for part-time apprentices.

Example: Cabinetmakers and Furnituremakers are priority occupations


BUT WAIT, THERE’S MORE

ACFA will continue to provide our members with detailed information on these updates, plus other important topics including:

  • Increase in Paid Parental Leave
  • Casual Employees
  • Independent Contractors
  • Right to Disconnect
  • Tax-Free Part of Genuine Redundancy Payments
  • Right of entry exemption certificates and permit conditions
  • Workplace Delegates’ Rights
  • Industrial Manslaughter Offence for the Commonwealth Work Health and Safety Act 2011