The Business Advisory Blog

The Business Advisory Blog

Insight, news and updates from Alliott NZ Chartered Accountants, Auckland New Zealand. The views expressed here are the views of the author and should be discussed in further detail should an article be relevant to your individual circumstances.

While every effort has been made to provide valuable, useful information in this publication, this firm and any related suppliers or associated companies accept no responsibility or any form of liability from reliance upon or use of its contents. Any suggestions should be considered carefully within your own particular circumstances, as they are intended as general information only.

Vanessa Williams
Published on

What you need to know

The government increased the minimum wage from April 1.

The adult minimum wage rise by $0.45 an hour takes it up to $23.15 an hour. This means additional costs for many businesses.

Workplace Relations and Safety Minister Brooke van Velden said that “a cautious approach to the minimum wage is required this year” giving “our lowest paid workers more money in their pockets, without hindering job growth or imposing unreasonable costs on businesses”.

If your business has minimum wage employees:
  • talk to your payroll team to ensure wage changes have been made
  • adjust your budgets for the year
  • consider the impact on the rest of your financial plans
  • check if existing employment agreements provide for overtime or allowances — if they do, consider the impact of the wage increases.

Contact Alliott NZ Chartered Accountants in Auckland if you’re unsure how to plan for the minimum wage adjustment.

Related reading

Current minimum wage rates »

Topics: budgeting employees employers employment minimum wage Payroll