On 1 July 2026 a long list of money settings resets at once: minimum and award wages rise, regulated electricity prices change, and a swag of government thresholds and payments are indexed. The big one that is not changing is super: the superannuation guarantee hit 12 per cent on 1 July 2025 and stays there, so it is not rising again this year.
That is the short version. The longer version is worth a few minutes, because the start of the financial year is the one moment when several of your money settings move on the same day, and a quick review now saves you from finding out the hard way in July. Think of what follows as a checklist rather than a crisis.
Super: the rise is over, for now
The superannuation guarantee, the minimum your employer must pay into your super on top of your wage, reached 12 per cent on 1 July 2025. That was the top of the long, staged climb that had been ticking up for years. So this 1 July, for the first time in a while, the headline super rate does not move.
That is genuinely good news for your planning, because it means there is no change to absorb. The 12 per cent sits on top of your ordinary earnings as a compulsory contribution, and for most people it keeps building quietly in the background. If you want the full detail on how the rate works and who it covers, our explainer on the super guarantee rate in 2026 walks through it.
What can still change around this time are the various super caps and thresholds, which are indexed periodically rather than every single year. If you make extra contributions, salary sacrifice, or are anywhere near a contributions cap, confirm the current figures with the Australian Taxation Office before you lock in your plan for the year. The mechanism is fixed, the dollar figures are not.
Your pay: award and minimum wages rise
Each year the Fair Work Commission runs its annual wage review and sets a new national minimum wage and new award minimum rates. The increase takes effect from the first full pay period starting on or after 1 July, which is a small but important detail: it is not always literally the first of the month, it is your first full pay cycle after it.
The Commission publishes the size of the increase in the weeks beforehand, after weighing inflation, the cost of living and the broader economy. We are not going to invent a percentage here, because the exact figure is the whole point and it comes straight from the source. If you are paid at or near an award rate, or you run a small business and pay staff on awards, check the headline figure and the updated pay guides at the Fair Work Commission and Fair Work Ombudsman.
The mechanism is reliable, the exact figure is not yours to guess. Note what resets on 1 July, then check the official number before it lands.
A quick note for employers: payroll software usually updates award rates automatically, but the responsibility to pay the correct rate is still yours. It is worth a five-minute check that the new rates have flowed through before the first July run.
Your energy bills: the price reset
Regulated default electricity prices also reset on 1 July. In the states covered by the Default Market Offer, the Australian Energy Regulator sets a benchmark that effectively caps what retailers can charge customers on standard plans, and Victoria runs its own equivalent through its state regulator. These benchmarks are reviewed and reset for the new financial year, and they ripple through to market offers too.
The direction and size of the change vary by region and by network, and they can go up or down depending on wholesale costs, network charges and other inputs. The final figures are published before they take effect, so do not rely on last year’s number. For the bigger picture on where bills are heading, our look at electricity prices in Australia in 2026 sets the context, and the Australian Energy Regulator publishes the official DMO figures.
If your plan is on an old default rate, this is the natural moment to shop around. A reset is exactly when retailers refresh their market offers, so it pays to compare.
Indexed payments and thresholds
A range of government payments and thresholds are also adjusted around this time, including some Centrelink and Services Australia payments, various tax and Medicare-related thresholds, and assorted fees and charges. Indexation usually tracks inflation or wages, and the timing is not identical across every payment, so some move on 1 July and others on different indexation dates.
The practical point is the same as everywhere else in this article: the mechanism is predictable, the precise new amounts are published by the relevant body shortly before they apply. If you receive a payment or sit near a threshold that matters to you, confirm the current figure with Services Australia or the ATO rather than working off an old number.
Your checklist for 1 July
Here is the calm five-point version to run through:
- Super: no rate change this year, but confirm any contribution caps with the ATO if you contribute extra.
- Pay: check the new minimum and award rates with the Fair Work Commission, and remember it starts from your first full pay period.
- Energy: watch for the reset to default and market offers, and compare plans if you are on an old rate.
- Indexed payments: confirm any payment or threshold that affects you with Services Australia or the ATO.
- Everything else: a new year is a good prompt to review your rates and accounts for the new year, from your savings rate to your loan.
For the broader squeeze that frames all of this, our rundown on the cost of living in Australia in 2026 is a useful companion read.
The bottom line
The new financial year is less a single event than a coordinated reset of your money settings. The standout this time is that super stays put at 12 per cent, while wages, energy prices and a list of indexed payments and thresholds all move on or around 1 July. None of it requires panic, but a short review of your pay, your energy plan, your savings rate and any indexed payments will mean nothing in July catches you off guard. Note what changes, then confirm the exact numbers with the body that sets them.
This article is general information only and not personal financial, tax or legal advice. Figures were last checked in June 2026 and can change, and the official amounts are set by their respective bodies, the ATO, the Fair Work Commission, the Australian Energy Regulator, the Reserve Bank and Services Australia. Check the relevant official source for the current figure before you act.