PENALTY RATE CHANGES - WHAT THIS MEANS FOR EVERYONE
I am sure you would have heard, the Federal Government has agreed to cut Sunday penalty rates for hundreds of thousands of Australian workers.
According to the Fair Work Commission, the cuts will lead to increased services and trading hours on public holidays and Sundays.
WHAT THIS MEANS FOR THE EMPLOYEE
The workers who will be hardest hit are those in the retail, hospitality and fast food industries.
Australians who rely on penalty rates generally earn a relatively low wage. The ACTU estimates the FWC decision will cost low-paid workers up to $6000 a year.
WHAT THIS MEANS FOR THE EMPLOYER
Small business owners are cheering. Employers in these industries are the ones who have been pushing for these cuts. They say the penalty rates have hindered their business by making it too expensive to operate efficiently on the days that demand extra pay.
WHAT THIS MEANS FOR THE CONSUMER
This could mean the end of public holiday surcharges or is this wishful thinking?
Consumers can expect to pay no less for their Sunday breakfast, however the decision could mean increased trading hours on a Sunday.
You can read more about the decision here http://www.fairwork.gov.au/pay/penalty-rates-and-allowances