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Major Financial Changes Start July 1 | Melbourne News
Description
Big financial changes kick in July 1st, including a 6% minimum wage hike to $26.44 an hour, tax cuts for millions, and major updates to parental leave, superannuation, and anti-scam rules. Full-time workers will earn over $1K weekly before tax, while income earners between $18,201 and $45,000 now pay 15% instead of 16%. Parental leave extends to 26 weeks, paid at the new minimum wage. Employers must pay super with wages, and high-earning super accounts face higher taxes. Small biz instant write-offs stay permanent, and new text message scam protections plus grocery price gouging crackdowns are on the way. Stay informed — it’s a big month for your wallet.
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