Australia Launches 14 July 1 Changes, Cutting Tax Rate to 15% for 12 Million Workers
Updated
Updated · The Age · Jun 27
Australia Launches 14 July 1 Changes, Cutting Tax Rate to 15% for 12 Million Workers
2 articles · Updated · The Age · Jun 27
Summary
July 1 brings 14 legal and financial changes in Australia, led by a tax cut that lowers the 16% rate on A$18,000-A$45,000 income to 15% and adds about A$268 a year for 12 million workers.
Workers also get a 4.75% award-wage rise, while the minimum wage jumps 6% to A$1,004.90 a week, pushing annual pay above A$50,000 for the first time.
Families gain two extra weeks of paid parental leave, taking the total to six months, while electricity default offers on the eastern seaboard fall by as much as 8% and indexed welfare payments also rise.
Other July 1 changes include payday super contributions, a mandatory SMS sender-ID register, a supermarket excessive-pricing ban, and the launch of new environmental, veterans' wellbeing and First Nations children agencies.
Costs still rise in some areas: parcel prices increase by just under 5%, stamp prices climb to A$1.85, and fuel-excise relief halves to 16 cents a litre before ending on August 2.