The Workplace Relations and Safety Minister has announced that the adult minimum wage will be rising to $23.15 per hour from 1 April 2024. This is an increase of 45 cents per hour from the current hourly rate of $22.70.
In 2022, the Minister of Commerce and Consumer Affairs commissioned an investigation into changes to credit laws introduced on 1 December 2021. This has led to further amendments to the Credit Contracts and Consumer Finance Regulations 2004 and the Responsible Lending Code. The first tranche of changes came into force on 7 July 2022, and the second tranche are in force on 4 May 2023.
The Remuneration Authority (Members of Parliament Remuneration) Amendment Act repealed the 2015 changes and restored the Remuneration Authority’s discretion to set MPs’ pay based on specified criteria.