New Financial Year, New Rules — What Changes for Your Business on 1 July 2026

Payday Super begins on 1 July 2026

One of the most significant payroll changes in years takes effect from 1 July 2026. Under the Payday Super reforms, employers will be required to pay superannuation contributions at the same time as wages — rather than the current quarterly payment cycle. The super must also reach the employee’s chosen fund within seven business days of each payday. Businesses that are used to making quarterly super payments will need to update their payroll processes before the first July pay run. Check with your payroll software provider to confirm their Payday Super functionality is active and configured correctly.

Minimum wages are going up

The Fair Work Commission’s annual wage review takes effect on 1 July 2026, with increases to the national minimum wage and modern award minimum rates. If any of your employees are paid at or near award rates, you will need to update their pay before their first pay period on or after 1 July. Even if you pay above the minimum, it is worth confirming that your rates continue to comply with the relevant modern award, including penalty rates and allowances that flow from the base rate.

STP finalisation due 14 July

Single Touch Payroll (STP) finalisation for the 2025–26 financial year is due by 14 July 2026. This is the process of confirming your employees’ income, tax withheld, and superannuation data to the ATO so they can pre-fill their tax returns. If you use a payroll platform, the finalisation process should be straightforward — but don’t leave it until the last moment.

Review your business structure

The new financial year is a natural reset point to review whether your current business structure still makes sense. Whether you operate as a sole trader, company, trust, or partnership — if your circumstances have changed over the past year, whether that is higher turnover, new business partners, or a shift in what your business does — it is worth a short conversation with your accountant. The start of a new financial year, with fresh accounts and a clean slate, is the right time to consider whether any structural adjustments are appropriate.

Subscriptions, insurance, and planning

Many business insurance policies and software subscriptions renew at the start of the financial year. Review what you are paying for, whether it is still delivering value, and whether there are tools that can be consolidated or replaced. And beyond housekeeping — July is the best time to set your revenue targets, review your pricing, and map out your goals for the year. Starting with clarity makes everything else easier.