What Actually Changed on 1 July and What It Means for Your Business
About this episode
Julianna discusses key financial changes effective from 1 July and their implications for businesses.
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…
More episodes of Prosperity on the Horizon
- What You Can Still Do After June 30 and How to Make FY2027 Your Best Year Yet
- What Your Business Earns vs What You Can Actually Spend
- Why Knowing Your Revenue Is Not Enough
Explore listener stats, chart rankings, contacts and more on the Prosperity on the Horizon podcast page.