What changed on 1 July 2023?
Employers and business
- Superannuation guarantee increases to 11% from 10.5%
National and Award minimum wage increases take effect. - The minimum salary that must be paid to a sponsored employee – the Temporary Skilled Migration Income Threshold – increased to $70,000 from $53,900.
- Work restrictions for student visa holders reintroduced to 48 hours per fortnight.
- The cap on claims via the small claims court procedures for workers to recover unpaid work entitlements increases from $20,000 to $100,000.
- Energy Bill Relief Fund for small business kicks in – it will apply to your energy bills if you meet the criteria.
- Sharing economy reporting to the ATO commences for electronic distribution platforms.
