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Real Estate Employer

Award wage increase for Real Estate Industry set to commence 1 November 2020

In mid this year, the Fair Work Commission made a decision that resulted in a 1.75% minimum wage increase across all Awards.

However, due to economic impact of COVID-19 instead of the usual practice of having award wages increase effective 1 July across all Awards, the Fair Work Commission made a decision to group the awards and stagger the increase in three stages.

The Real Estate Industry Award 2020 and the Clerks-Private Sector Award 2020 fell into Group 2 of the staggered approach. This means that the Award wage increases for both these Awards will apply from the first full pay period on or after 1 November 2020.

As per previous years, we will make available to all subscribers a copy of the revised wage schedule for each Award and classification prior to 1 November 2020. A copy will also be uploaded to your online subscriber dashboard for future reference.

Real Estate Industry Award wages

A 1.75% increase to the base award wage will come into effect on 1 November 2020.

This means that the minimum award wage for a Real Estate – Level 2 employee increases from $862.50 per week to $877.60 per week.

The increase will apply across all levels under the awards including junior employees.

Annual salary in excess of Award minimums

If you currently pay your employee wages in excess of the relevant award minimum wage, then you do not need to pass any further increase on to your employee as it will already be absorbed into the above minimum wage payment.

However, you are urged to check that the employee continues receiving a wage equal to or higher than they would be entitled to receive under the relevant award.

We urge all employers to check their payroll obligations to ensure that you are meeting the minimum wage obligations under the Fair Work Act 2009 and Modern Awards.

Subscribers will be provided with updated wage schedules – if you are not a subscriber and would like a copy of the wage schedule (fee applies) please send us an email.


Need Help

Workplace Partners is available to assist you with any queries on 1300 116 400 or email [email protected].

The information contained within this article is not legal advice and is for general advice only, to obtain specific advice for your business contact us on 1300 116 400 or email [email protected], this advisory service is available to all subscribers at no additional cost.
 

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