What Actually Changed on 1 July and What It Means for Your Business

Julianna, founder of Horizon Accounts, introduces a new series on building a strong financial year and explains key changes from 1 July. Superannuation must now be paid on payday each pay run (Payday Super). The national minimum wage rose by 6% and modern award minimum wages by 4.75%, employers should check their specific award rates rather than assume they match the national increase. She stresses the cash flow impact of payday super, the need to review pricing as wages rise and the importance of correct GST coding, offering a free GST savings checklist and a four-step to-do list to complete before the end of September.

00:00 Series Kickoff

00:25 Payday Super Rules

01:10 Clearing House Closure

01:39 Minimum Wage Updates

02:36 Cash Flow Impacts

03:18 GST Coding Checks

04:08 September Action Plan

05:31 Yearly Rule Shifts

06:15 Wrap Up Next Episode

If you are listening to this podcast, chances are you are already on your way to exploring your numbers with a desire to understand and master your business finances, realising the transformative power that numbers hold for your business success.

The EOFY Checklist will be available - if not there yet already - on our website under Resources.