July budget shake-up hits Australian wallets

From 1 July 2024, Australian households face significant financial changes including tax cuts for most workers, minimum wage increases, and parental pay rises. However, offsetting these benefits are NBN price hikes of $2-10 monthly, the tapering and removal of fuel excise subsidies, increased toll road costs across Sydney, Brisbane and Melbourne, and Australia Post price rises of 3-6%. A new payday superannuation system will also commence, requiring employers to pay super contributions at the same time as wages.See omnystudio.com/listener for privacy information.