The new minimum wage for adults is $13.50 an hour with effect from 1st April 2012.
The 'New Entrant' rate follows at 80% of the adult rate and will become $10.80 hourly from that date.
Adults who work a 40 hour week have a minimum now of $28,080 annually less PAYE and KiwiSaver. This will mean adults on a minimum wage will earn $540.00 weekly gross and net after PAYE about $453.00 (about $442.00 if they have a 2% KiwiSaver deduction) in their hand.
The Minimum Wage Act applies to salaried employees as well as employees who are paid by the hour and employers need to ensure that salaried workers’ rates do not drop below the minimum wage because of their hours of work. Essentially the more hours a salaried employee works, the lower their hourly rate. Employers are required to keep a record of employees' actual hours of work.
For more information on minimum wage
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