New financial year, new rules! Here are few key changes that could impact your business costs, compliance and operations:
1. Minimum Wage Increase
The National Minimum Wage rises by 3.5% to $24.95/hr ($948/week). Review employment contracts and payroll to ensure compliance from the first full pay period after 1 July. Underpayment risks heavy penalties.
2. Superannuation Guarantee
Rise The SG rate increases from 11.5% to 12%. Update payroll systems for all payments made from 1 July onwards to avoid SGC penalties.
3. Paid Parental Leave Super
From 1 July, the ATO pays super on government-funded parental leave. While employers don’t pay this directly, it’s a great new benefit for eligible staff.
4. ASIC Fee Hike
Annual review fees increase (e.g. proprietary company fee from $321 to $329). Budget for this and pay on time to avoid late payment penalties.
5. ASIC Business Name Fee Increase
From 1 July, business name fees rise: ✔ 1-year registration/renewal: $44 → $45 ✔ 3-year registration/renewal: $102 → $104
6. Tax Debt Interest
Non-Deductible General Interest Charge (GIC) and Shortfall Interest Charge (SIC) on ATO debts are no longer tax deductible. Review cash flow strategies to avoid expensive tax debt costs.
7. Energy Bill Relief
Eligible small businesses get up to $150 rebate on energy bills from 1 July 2025 to the end of 2025, automatically applied in two quarterly instalments ($75 each). Check bills to ensure it’s received.
8. · Right to Disconnect
From 26 August 2025, small business employees can refuse employer or third-party contact outside working hours. Review communication policies to remain compliant.
9. · Environmentally Sustainable Procurement Policy Expansion
From 1 July 2025, if supplying furniture, ICT goods, textiles (over $1m procurement) to the government, you must substantiate environmental claims and comply with the new policy requirements.
10. ATO Compliance Crackdown
With $1 billion funding, expect increased audits on deductions, PAYG, BAS lodgements,
director loans (Div 7A), and business vs personal expenses. Keep records audit-ready and review internal controls.
11. Cybersecurity Risks Rising
Data breach regulations tighten. Protect client and employee data with strong cybersecurity measures, staff training, and breach response plans to avoid legal and reputational costs.
💡 Final Tip: Staying informed and proactive can save you from unexpected costs, penalties, and operational risks.
Speak with your accountant or advisor today to ensure your business is ready for a compliant and strong FY2026.
For More Information visit our Website
Reach out to us at biz@purplequay.com.au
Connect with us on our What’s App
Credits
Vigneshkumar Muthiah, Services Management Team