July 1 Changes 2026: Here's What Every Business Needs to Know

Here’s your July 1 2026 reminder: don’t get caught out with these changes.

The new financial year is here, and with it comes a handful of changes that could affect your wages, payroll and business. Here’s a quick rundown of the ones worth knowing:

💰 Minimum Wage Gets a Boost

From 1 July the National Minimum Wage and modern award wages increase by 4.75%, taking the minimum wage to $26.44 per hour (or $1,005 per week). If you employ staff, make sure your payroll is updated before your first full pay period.

💸 Payday Super Is Here

One of the biggest changes for employers is Payday Super. Instead of paying super quarterly, employers must now pay super at the same time as wages. On top of that, the Super Guarantee increases from 11.5% to 12%. If you haven’t already, it’s worth checking your payroll software or accounting software to make sure you’re ready.

🛠️ $20,000 Instant Asset Write-Off Is Now Permanent

Good news for small businesses. The $20,000 Instant Asset Write-Off is now a permanent measure for eligible businesses with an annual turnover of up to $10 million, making it easier to immediately deduct the cost of eligible tools, equipment and business assets.

📉 Loss Carry-Back Returns

Eligible companies can once again offset business losses against profits from the previous two financial years to claim a tax refund. It’s designed to help improve cash flow during tougher trading periods, so it’s worth chatting to your accountant if your business has posted a loss.

👶 Paid Parental Leave Expands

Government-funded Paid Parental Leave has officially expanded to 26 weeks (130 days) for children born or adopted from July 1, 2026, giving eligible families more time at home. Employers, look to plan for longer periods of staff leave and updating workplace policies where needed.

📱 New Rules for Business Text Messages

If your business sends branded SMS messages, you’ll now need to register your SMS Sender ID. The change is aimed at reducing text message scams and making it harder for scammers to impersonate legitimate businesses.

🏢 ASIC Fees Are Increasing

Business owners renewing a business name or registering a company will notice slightly higher ASIC fees from 1 July 2026, with registration and annual review costs increasing in line with CPI.

Disclaimer: This article is intended as a general overview of key changes from 1 July 2026 and should not be considered financial, tax, legal or business advice. Every business is different, so we recommend speaking with a qualified accountant, registered tax agent, lawyer or other appropriately accredited professional before making decisions or taking action based on these changes.