Are you ready for the new financial year?

As the 2023 financial year races to a close, businesses need to act now to prepare for the implementation of increased award rates on 1st July. The recent decision made by the Fair Work Commission (FWC) regarding the annual wage review will significantly impact many businesses in the region with a substantial increase of 5.75% to Modern Award minimum wages for all classification levels. These new rates will come into effect from the first full pay period commencing on or after 1st July 2023.

The FWC’s decision was influenced by various economic and social factors, including the rising cost of living, a strong labour market, high inflationary pressures and projected economic slowdown for the 2023-24 financial year. Taking proactive measures now is essential to navigate the upcoming changes and maintain compliance with the updated regulations. For more information, go to the Fair Work Ombudsman website.

The Whitsunday business community will soon be invited to participate in the Greater Whitsundays Designated Area Migration Agreement (DAMA) Business Community Attitudes Survey. This survey aims to understand the impact of immigration on your workforce, and more importantly, your interest in a DAMA for our region. A DAMA represents a significant opportunity for the Greater Whitsundays region. It is a formal multi-year agreement between the Australian Government and a regional authority that provides access to a larger pool of overseas workers than the standard skilled migration program. By participating in this survey, you will actively contribute to shaping the future of workforce development in our region.  

Our next meeting and business networking event will be held 7:00am-8:30am Thursday 13 July in Proserpine. Join us to have your say on priorities for the region and help build on the economic Vision for the Whitsundays, connect with like-minded businesses, and hear more about our new strategy, advocacy, and membership services.  

Speaking of membership, don’t forget to take advantage of our free end of financial year membership offer – valid to 30 June 2023. Jump onto our website and join up.

by Chamber President, Allan Milostic