The Fair Work Commission has announced a 2.5% increase to minimum wages which will apply from the first full pay period starting on or after 1 July 2015.

The increase means that the national minimum wage will be $656.90 per week or $17.29 per hour.

The 2.5% increase also applies to modern award wage rates.

Business owners should ensure that their employees are not being paid less than the new national minimum and may wish to take this opportunity to review their payroll obligations and financial commitments.

For further information, please see the news release by the Fair Work Ombudsman here.