Date: Thursday 13 February 2020 – 12.30 – 1.30pm AEDT
If your employees are covered by a modern award and you are already paying (or considering paying) your employees an annualised salary, your business will be impacted by the recent amendments to annualised salary clauses in modern awards, which will take effect from 1 March 2020.
The Fair Work Commission’s decision to amend annualised salary clauses will affect over 20 modern awards, including 3 modern awards which did not previously contain an annualised salary clause. The changes to annualised salary clauses will significantly increase the obligations on employers in relation to record keeping and annual reconciliations. Accordingly, it is imperative that your business has the appropriate systems in place prior to 1 March 2020.