From wages and parental leave to battery rebates, here's what's changing for new financial year
Minimum wage, superannuation and parental leave are all set for a shake-up next week as the new financial year is ushered in next week.
From how you get paid to how much you'll be charged for electricity, there are plenty of changes in store and PerthNow spoke to two financial experts to break down what it will mean for you.
From July 1, those on the national minimum wage will have their pay boosted by 3.5 per cent. The wage will be lifted to $24.95 per hour or $948 per week.
About 2.9 million people will benefit from the boost.
In Western Australia employees over the age of 21 will see a 3.75 per cent increase to the minimum wage, equivalent to $953.00 per week.
Canstar data insights director Sally Tindall said the increase would be welcome but was unlikely to help everyone in need.
'This is a really important increase for those workers on the minimum wage and award wages,' she said.
'The cost-of-living crunch has really hit those on the lowest incomes the hardest, and this increase will help those people keep up with additional expenses.
'It's not a silver bullet ... this increase is incredibly welcomed but for some people it won't go far enough in helping them make the dollars and cents add up month after month.'
Along with a pay increase for those making the least, all workers will now have more paid into their super accounts.
From July 1, the mandatory minimum payment rate will be upped from 11.5 per cent to 12 per cent.
The increase caps off the gradual rise in the super guarantee which has resulted in incremental rises from 9 per cent in 2013.
Ms Tindall said the changes would be especially good news for younger people.
'More money will be going into people's super accounts, which means it will take the pressure off Australians when they hit retirement, knowing that they have a decent amount of money in super,' she said.
'It will impact younger Australians the most because they will be on that 12 per cent guarantee for a long period of time and see that nest egg grow.
'Not just from their employers contributions over time but also hopefully from the returns that are generated within the super fund over that time as well.'
Expectant parents will be eligible for up to 24 weeks or 120 work days paid leave., if their child is born or adopted from July 1.
It is an increase from the previous 110 days, and is part of a four-year move to boost the number of days to 130 by mid-2026.
Secondary carers will now have 15 days of paid parental leave reserved for them as part of the total 120, up from 10.
Both parents will also be able to take up to 20 days at the same time, up from 10.
Those taking parental leave will also now be paid superannuation during their time off for the first time, equal to the superannuation guarantee rate.
Finder.com.au personal finance expert Sarah Megginson said families were benefitting from multiple changes.
'With the new hourly rate of minimum wage up ... that of course, impacts things like paid parental leave,' she said.
'If you're eligible for paid parental leave, it means that you'll be getting $948 per week for almost six months and you can share that between both parents.'
It's not all good news come July 1.
From next week West Australian households can expect to be slugged an extra 2.5 per cent for their utility bills.
The change was confirmed in the 2025-26 State Budget which indicated that average household would pay nearly by nearly $100 more a year for their water and power.
Motor vehicle charges, such as a registration fees and the cost of a driver's license, will increase by a total of 3.3 per cent. The Emergency Services Levy — an annual charge paid by all property owners
—
will also increase by 5 per cent.
Ms Megginson said those doing it tough would not be looking forward to increased bills once again.
'Our bills have just been going up and up and up for many, many years and no one really has the appetite to hear they're going up again,' she said.
'But on July 1 we will see an increase to energy prices and it's not insubstantial. it's a pretty decent price hike and it depends where you live.'
West Aussies are set to benefit from two battery rebates at once with the combining of State and Federal initiatives.
Synergy customers will be able to claim up to $5000 for a rebate on their battery purchase while Horizon Power customers can claim up to $7500.
For households with a combined salary of less than $210,000 they can also access no-interest loans of up to $10,000 with a repayment period of up to 10 years.
Ms Tindall said while not everyone could afford to make the investment, the rebates were still likely to boost uptake.
'These battery incentives will help increase the take up of solar batteries and with the State Government combining with the Federal Government I do expect that that will see as a decent boost in WA,' she said.
'It is limited to people who can afford the cost of the battery, even with the rebate, and that to many families will be a difficult expense to have to stump up even with the rebates.'
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