1st July Updates for Small Businesses

Welcome to this weeks’ episode of The Australian Small Business Show!In this weeks episode we are unpacking key 1 July updates that Australian small businesses need to be across, and what they might mean for your business.Specifically in this episode we discuss the following changes which begin in 1 July 2025:·       Updates from ASIC including an increase in business name registration fees, company registration fees and annual company renewal fees;·       The previously discussed 3.5% increased to the National Minimum Wage and the Modern Award minimum rates of pay·       Superannuation increasing from 11.5% to 12%·       The expansion of the Parental Leave Pay Scheme both in relation to the increase in days and the addition of superannuation to this payment·       The removal of the ability to claim a tax deduction on ATO debt interest charges ·       The energy bill relief that eligible small businesses will get access to In addition, we talk about the upcoming changes to superannuation legislation which will have a big impact not only on funds with over $3 million dollars, but the flow on effect this will have on superannuation more broadly.We discuss the right to disconnect laws that will be in place for small businesses from the 26th august and what this means. And finally we take a look at new obligations for tax practitioners and how this will impact all small businesses.Connect with Us:If you're an Australian Small Business Owner, we'd love to connect with you on socials. You can give our Facebook Page a like here: https://www.facebook.com/theaustraliansmallbusinessshowOr follow us on Instagram here:https://www.instagram.com/aussmallbizshow/* Disclaimer: The information sharedon The Australian Small Business Show is general in nature and does notconstitute professional advice, legal or otherwise. We recommend consultingwith your advisors on your specific circumstances.Mentioned in this episode:Invitation to Join Kristy-Lee for this Free Webinar?Are you across the Fair Work changes that take effect on 1 July? Join Kristy-Lee for this free webinar to discover exactly what's changing and what you need to do about it, so you don't end up in hot water with Fair Work (even if you only have 5 staff and one of them is your sister-in-law). Free live webinar for Australian small business owners Tuesday 23rd June | 12pm AEST | Online via Zoom https://www.peoplepoweredbusiness.com.au/webinar