Poll: Which July 1 change will most impact your business?
The beginning of a new financial year is a busy period for retailers, and with several legislative changes coming into effect from July 1, it is more important than ever to ensure you’re prepared for the year ahead.
Starting today, the minimum wage has increased by 3 per cent to $19.49 an hour, or $740.80 a week – a “fair, safe increase” according to David Sztrajt, senior associate of HR Legal.
This is offset by a reduction in Sunday penalty rates, with full-time and part-time workers now earning 165 per cent base pay rate, and casual workers now earning 190 per cent, down from 180 per cent and 205 per cent respectively.
Additionally, organisations with turnovers of more than $100 million are now required to submit annual reports retailing the risk of slavery in the suply chain, as well as what they’re doing to combat it.
Any business that employs someone in New South Wales, however, will need to create this report should they turn over more than $50 million.
While all of these change will impact retailers in the coming months, we want to know which of the legislative changes you think will have the largest effect on your business?