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2mo ago

3.5% Wage Rise, 12% Super Guarantee and Fee Hikes Take Effect Nationwide

The reforms seek to shield households from inflation by boosting pay alongside expanded support measures funded through adjusted fees.

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Wages, superannuation, paid parental leave, household fees and battery rebates are all set to change on July 1. Here’s what you need to know.

Overview

  • From July 1, the national minimum wage climbs 3.5 percent to $24.95 an hour, lifting earnings for about three million workers.
  • Employers must now contribute 12 percent to superannuation accounts under the ongoing indexation plan designed to bolster retirement savings.
  • Social supports expand with 24 weeks of paid parental leave that includes superannuation, stipends of $331.65 per week for over 70,000 placement students, and age pensions rising by $22.50 for singles and $34.50 for couples per fortnight.
  • Household utility bills, motor vehicle charges and the Emergency Services Levy increase in Western Australia by 2.5 percent, 3.3 percent and 5 percent respectively to reflect state budget adjustments.
  • Households can claim up to $7,500 in home battery rebates plus no-interest loans for eligible buyers, and the NDIS recalibrates therapist rates while halving travel claim allowances.