The recent Federal budget has brought numerous changes, including significant pay increases and superannuation reforms.
Aged care workers can expect an interim 15% pay increase, delivering an extra $7,500 to $10,000 a year and will not be phased in incrementally as initially planned.
Further reforms are hinted at, including a federal approach to criminalising wage theft, greater protection for gig workers, and standing up for casual workers.
Small business owners should take note of a change in superannuation contributions, which will be paid on payday, starting from July 2026, giving employees greater visibility over their payments.
A 30% tax rate has been announced for superannuation balances over $3m as of 2025.
Families will also benefit from an enhanced paid parental leave scheme, with 26 weeks of leave available by 2026 and single-parent payments extended for another six years, and more financial assistance for early childhood education.
This is in additional to enhanced Child Care Subsidy rates which have increased to 90% for families on a combined income of $80,000 or less.
For families earning over $80,000, the subsidy rate will gradually reduce by 1% for every additional $5,000 in family income up to a max of $530,000, at which point the subsidy will be 0%.
A typical family earning about $120,000 with a child in care three days a week will save about $1,700 a year.
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