Latest / NewsCard® Australia Daily News / Minimum wage and tax changes take effect, new supermarket pricing rules, US trade uncertainty
Transcript
- [warm] This is NewsCard Daily for Wednesday July 1, 2026 ... the biggest stories from Australia and around the world in just minutes. — — [serious] We begin in Canberra where a new financial year brings immediate changes for millions of Australians. The minimum wage rises by 4.75 per cent, the lowest tax rate drops from 16 to 15 per cent, and payday super kicks in ... meaning employers must pay super at the same time as wages. Paid parental leave also expands, and some households in New South Wales, South Australia and south-east Queensland can now opt in to three hours of free electricity a day under the Solar Sharer offer. [1][3][5] — — [serious] In Canberra again, the pressure is on households and small business as more cost-of-living rules take effect. Fuel excise falls by about 16 cents a litre, a new $1,000 instant deduction for work expenses begins, and seafood venues must now show whether their produce is Australian, imported, or mixed. There are also tougher anti-scam text message rules, with registered SMS sender IDs designed to make impersonation harder. [1][3][5] — — [curious] In the business world, the start of the new financial year brings a major shift for employers. Super payments move to every pay run, not quarterly, and the old Small Business Super Clearing House is closing. ASIC fees are also rising, including the cost of registering a company and annual review charges, which adds another layer of expense for firms already juggling wage growth and compliance changes. [5] — — [serious] In Melbourne and across the country, retailers and supermarkets are under new scrutiny too. Large supermarkets such as Coles and Woolworths are now banned from charging excessive prices under new pricing rules, while Centrelink thresholds and the Medicare levy surcharge brackets are also lifting with indexation. For many families, the headline is simple ... more money in pay packets, but also a sharper focus on what still costs more. [3] — — [serious] Overseas in Europe, markets are watching closely as the new US financial year begins with fresh trade and policy uncertainty. Investors remain focused on whether Washington’s next move on tariffs and spending will ripple through global prices, energy costs, and export demand ... all issues that matter here in Australia, especially for inflation and interest rates. — — [urgent] Meanwhile in the United States, the political calendar is moving fast, with the White House facing fresh pressure over the economy and immigration as lawmakers push into a tense July. Any shift there can quickly flow through to the Australian dollar, commodity prices, and the cost of imported goods. — — [warm] That's NewsCard Daily. For more top stories and quick summaries that keep you informed in minutes, download NewsCard ... available in the App Store.