So what’s new this financial year?

• Business News

With the new Financial Year starting on 1 July 2025, a number of changes have come into effect, with important changes for both employers and taxpayers.

Super Guarantee Grows to 12%

Employers must now contribute a minimum 12% superannuation on employee earnings, up from 11.5%.

National Minimum Wage Rises

The National Minimum Wage climbs 3.5% to $24.95/hour ($948/week). Modern award wages increase by the same percentage.

State Minimum Wage Rises

The Western Australian Minimum Wage climbs 3.75% to $25.08/hour ($953/week). This increase affects businesses that operate under the WA state industrial relations system (covering sole traders, some micro businesses, unincorporated partnerships and unincorporated trust arrangements.

ATO Interest No Longer Tax‑Deductible

From 1 July, ATO interest charges (GIC/SIC) are no longer tax-deductible. Interest rates on ATO debt could climb to an effective interest rate of ~15% for small businesses.

Energy Bill Relief Fund

Eligible small businesses and households will receive $150 in electricity rebates—paid automatically in two instalments of $75 during the remainder of 2025.

Paid Parental Leave Expansion and Super Contributions

Paid Parental Leave entitlement increases to 24 weeks (with further moves to 26 weeks planned for 2026). In addition, superannuation will also be paid on government-funded Parental Leave Pay, effective 1 July.

“Right to Disconnect” Pilot for Small Employers

From 26 August 2025, businesses with fewer than 15 employees must comply with the “right to disconnect” laws.

Freeze on Alcohol Excise

As announced in the Federal Budget, the alcohol excise for draught (kegged) beers will be frozen for two years, starting from August 2025.

It’s important for Small Business owners to conduct a review and ensure that they are complying with the changes, particularly with the increase in the superannuation guarantee rate and minimum wage.

If you are unsure if you are complying with your obligations or have any other questions on how these changes will affect your business, reach out to the team at Elevate Accounting today.