New laws set to impact wages, pay and household budgets
- 17 minutes ago
- 3 min read
Millions of Australians will see changes to their pay, taxes, superannuation and everyday costs from July 1 as new federal and state reforms come into effect.
Here are some of the key changes:
National changes
Minimum wage increase
The national minimum wage will rise by 4.75 per cent, increasing pay to $26.44 an hour or $1,004.90 a week for a 38-hour working week. Award wages will also increase by the same amount.
Paid parental leave boost
Government-funded paid parental leave will increase from 120 days to 130 days (26 weeks). Partner leave will also rise from 15 to 20 days for eligible parents.
Superannuation paid more frequently
Employers will now need to pay superannuation at the same time as wages instead of quarterly. The concessional super contribution cap will also increase from $30,000 to $32,500.
Tax cuts begin
Workers earning between $18,201 and $45,000 will receive a tax reduction, with the tax rate falling from 16 per cent to 15 per cent.The change will provide up to $268 in savings from the 2026-27 financial year, with further reductions planned from 2027.
A new $1,000 instant tax deduction will also benefit around 6.2 million workers, allowing eligible employees to reduce taxable income without keeping receipts.
Scam message crackdown
Businesses will need to register sender IDs used in messages. Unregistered senders will begin appearing as “unverified” as part of efforts to reduce scam texts.
Seafood labelling changes
Restaurants, cafes and food outlets selling seafood will need to clearly show whether products are Australian, imported or mixed origin.
Small business changesThe $20,000 instant asset write-off will become permanent for eligible small businesses with turnover under $10 million.
Property and housing
ACT stamp duty changes
The ACT will become the first Australian jurisdiction to fully remove stamp duty for many first-home buyers from July 1. Some pensioners and eligible groups will also receive exemptions.
NSW changes
Food recycling rules expand
Large supermarkets, hospitality businesses and other organisations will begin transitioning to mandatory food and garden waste recycling.
Building industry reforms
New requirements will apply to certain building professionals, including mandatory insurance rules.
Anti-money laundering laws expand
More industries, including property professionals, accountants and lawyers, will face new reporting obligations.
Queensland changes
E-bike and e-scooter rules tighten
New laws will target unsafe riding behaviour. Illegal devices can be seized, speed limits will apply in pedestrian areas, and parents may face responsibility for illegal riding by children under 16.
Child safety reforms begin
Organisations working with children will face stronger reporting and investigation requirements.
Victoria changes
Electricity prices to fall
Many households will see electricity costs reduce, with average savings expected across several networks.
Portable rental bonds introduced
Renters will be able to transfer their existing bond to a new property instead of waiting for a refund before moving.
Western Australia changes
$100 fuel support payment
Eligible WA licence holders can apply for a one-off $100 payment through the ServiceWA app.
Container recycling expands
More drink containers, including some juice, flavoured milk and alcohol containers, will become eligible for refunds.
Privacy rules updated
New rules will change how WA government agencies collect and share personal information.
South Australia changes
Seniors Card expanded
All South Australians aged over 60 will become eligible, regardless of employment hours. Aboriginal and Torres Strait Islander people aged 50+ will also qualify.
Vehicle registration increase
Registration fees for some vehicles will rise from July 1.
Tasmania changes
Stamp duty relief ends
The temporary full stamp duty exemption for established homes up to $750,000 will finish. First-home buyers will return to the existing grant system, which has been reduced to $20,000 for eligible new homes.
The changes mark one of the biggest July 1 reform periods in recent years, affecting household budgets, workers, businesses and everyday services across Australia.
Source : News.com
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