The new National Daily Minimum Wage is GH¢3.11 and it takes effect from February 1, 2010, the National Tripartite Committee (NTC) announced on Monday.
The 17 per cent increment from GH¢2.65 was arrived at after a fruitful deliberations between labour and employers.
This was contained in a communiqué issued at the end of a meeting in Accra jointly signed by Mr. Stephen Amoanor Kwao, former Minister of Employment and Social Welfare, Reverend Dr. Joyce Aryee, Vice President of Ghana Employers’ Association and Mr. Kofi Asamoah General Secretary, Ghana Trade Union Congress (GTUC).
It said any establishment, institution or organization whose daily minimum wage was below should be adjusted upward, while with the implication of tax on incomes it was tax exempt and will be the tax-free threshold of the 2010 personal income schedule.
“The tax-free threshold has now increased from GH¢240 to GH¢1,008 per annum,” it said.
The NTC reiterated its commitment to the improvement of incomes and productivity in both the private and public sectors.