Casual workers will also lose their entitlement but they will be paid a 175 per cent penalty for their Sunday shifts.
"I have spoken to many employers, in particular in rural and regional Australia, who are unable to open on a Sunday", she said.
Full-time and part-time and employees will have their penalty rates reduced from 200% to 150% of their regular hourly rate, while casual employees will be cut less, from 200% to 175%.
The pharmacy award rates applying between the hours of 7am and 9pm will go from 200% to 150% for full and part-time workers, and from 200% to 175% for casual employees.
Casual hospitality workers will get a 250% loading on public holidays instead of the current 275%, while retail workers than now receive a 275% public holiday loading will also be brought down to 250%.
"People whose pay is going to be cut ... will simply have to work more hours to make up that take-home pay".
"The Commission's consideration of over 130 lay witnesses and more than 6,000 public submissions demonstrates that all parties have had their positions properly considered", Mr Ward said.
Penalty rates have been part of the labour market for nearly 100 years, since the Australian Conciliation and Arbitration Commission ruled in 1919 that additional payment was required for working unsociable hours.
"This isn't about keeping money away from low wage earners in Australia, it's actually about providing opportunities for people to work".
Nigel Ward, CEO of Australian Business Lawyers & Advisors, said this was a "colossal case", which will have far-reaching consequences for the industrial relations system and economy more broadly.
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While the argument against cutting penalty rates focuses on income, the argument for cutting them has been focused on the cost to business and the "high" cost of keeping businesses open on Sundays.
One of her baristas, Lara Selems, 20, felt differently and admitted it would create disincentives for her and others to work Saturday or Sunday. The ruling from the independent tribunal says workers in the retail, hospitality and fast-food industries, which employ over 700,000 Australians, will be affected.
However, the ABC reports it was later contacted by Coles, which said Mr Hunter was one of their employees and wound not be impacted by the Fair Work Commission's decision.
The commission found Sunday working was becoming much more like any other day of the week.
Concerns about the material wellbeing of vulnerable workers relying on penalty rates such as single parents or students are far better addressed specifically through targeted social welfare measures.
Rough Diamond owner Henry Bird said the changes would mean he could consider opening his business on a Sunday.
Ms Palaszczuk said the decision would leave some Queenslanders losing up to $6000 a year.
"This cut in penalty rates is a cut in people's wages and it will hit young people especially hard..."
He called on Labor and the cross bench to support his party's move to block the cuts.
For those who work the minimum three hours on a Sunday, they will now have to work an additional hour.