What changed on 1 July 2023

HomeInsights

What changed on 1 July 2023.


Employers & 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.


Superannuation

  • Superannuation guarantee increases to 11%
  • Indexation increases the general transfer balance cap to $1.9 million.
  • Minimum pension amounts for super income streams return to default rates.
  • SMSF transfer balance event reporting moves from annual to quarterly for all funds.


For you and your family

  • The new 67 cent fixed rate method for working from home deductions – make sure you have a record of when you work from home. The ATO won’t accept a simple “I work from home every Wednesday” x 8 hours calculation.
  • Access to the first home loan guarantee expands to “friends, siblings, and other family members.”
  • The Medicare low income threshold has increased for 2022-23.
  • The child care subsidy will increase from 10 July 2023 for families with household income under $530,000. See the Services Australia website for details.
  • New parents able to claim up to 20 weeks paid parental leave.
  • Access the age pension increased to 67 years of age.          

Get started.

Since everyone's needs are different, we'll build a package and quote for the level of protection best suited to you.


CONTACT US CONTACT US



The Critical-5 Financial Metrics That Drive Business Performance

Lunch & Learn Workshop // 4 September, 2026 - 12:00 - 1:30pm
$35pp includes lunch

Many business owners believe growth comes from more sales. But in reality, the strongest and most profitable businesses grow by improving how the business works, not just by selling more. This session is designed to change that. The 5-Critical Financial Metrics is a practical workshop that shows you where small, targeted changes can create disproportionately big improvements in profit, cashflow and sustainability.


Live Workshop: Finance Ready So Banks say YES

MP SHIRE SMALL BUSINESS FESTIVAL / LIVE WORKSHOP
Friday 31 August, 4:00pm-6:00pm
Join our practical, educational workshop designed to help business owners understand the lending process and in preparation for funding conversations, learn how lending decisions are really made and what banks actually look for. 


Live Workshop: Know Your Numbers

MP SHIRE SMALL BUSINESS FESTIVAL / LIVE WORKSHOP
Tuesday 25 August, 10:00am-12:00pm
This practical, confidence-building session is designed to give business owners control. Know Your Numbers is a hands-on workshop created specifically for non-financial business owners who want clarity and confidence in their decision-making. 

Related News

13 May

Federal Budget 2026/2027 - FAQs

The Federal Budget, delivered on the night of May 12 2026, was one of the most significant in years. We know you will have questions — and we have put together this document to answer the ones we are hearing most.


READ MORE READ MORE
13 May

Federal Budget 2026 / 2027

The 2026–27 Federal Budget brings major changes to CGT, negative gearing, trusts and super. Find out what it means for you and your business.


READ MORE READ MORE
5 May

ATO Targets Property Development Structures - What You Need to Know

The ATO has released Draft Practical Compliance Guideline PCG 2026/D2, and it’s very clear where they’re focusing next, property development structures, particularly where land ownership and development activities are split.


READ MORE READ MORE