Big changes for the ‘New Year’ i.e.  the new financial year are coming!  I was asked to list these changes for my 2GB money spot that I do each morning on the Ben Fordham program. Fortunately, 9now.com.au did some great work to help me, and I thought I’d share it with you so you don’t miss out on some important changes that could affect you.

Here's the list:

1. Electricity: Prices to rise! From 2.5% in WA to 29% in parts of Queensland! There are energy rebates providing $500 to eligible households and $650 for businesses. (Put “energy rebates” into your search engine and see if you qualify.)
2. Super: Changes include the super guarantee for employees, which goes up from 10.5% to 11%. Plus, the total super balance cap increases from $1.7 million to $1.9 million. And the COVID-era temporary minimum drawdown requirements reduction, which halved what retirees took out of their super for their super pensions, goes back to the normal withdrawal amounts.
3. Tax: The low-and-middle-income tax offset, which was a tax cut of up to $1,500 for people earning under $126,000, will make for a smaller tax return for millions of Australians. Plus, the short-cut method for claiming work-from-home expenses ends so you have to keep proper records.
4. Wages: The minimum wage increases from $21.38 per hour to $23.23, or from $812.60 to $882.80 a week (pre-tax). And award workers will get a raise of 5.75%.
5. Childcare: On July 10, the federal Child Care Subsidy (CCS) is increasing, so families earning less than $530,000 will get an increased subsidy. Families earning up to $80,000 will get an increased maximum CCS amount, from 85% to 90% of total fees.
6. Paid Parental Leave: The federal Parental Leave Pay and Dad and Partner Pay schemes are being combined into one payment and will increase from 18 weeks to 20 weeks.
7. First Homebuyers: Eligibility for the federal government's Home Guarantee Scheme is expanding to include friends, siblings, and other family members who make joint applications under the First Home Guarantee and the Regional First Home Buyer Guarantee. Previously, people had to be either married or in a de facto relationship to make a joint application.
8. Aged Care: The 15% pay rise for aged care workers will start to kick in on July 1 and at least one nurse will be required to be on-site at homes around the country 24/7.
9. Cosmetic Surgery: New reforms including psychological screening of all cosmetic surgery patients, as well as mandatory cooling off periods between consenting to surgery and booking it in or paying a deposit.
10. Migration: The Temporary Skilled Migration Income Threshold is increasing to $70,000 on July 1, and Kiwis who have been living in Australia for four years or more will be able to apply for Australian citizenship.
11. NSW Kids: today is the last day to use their Active Kids vouchers, which gives school-aged kids $100 each. The same goes for the Creative Kids vouchers, which supports kids wanting to get into the arts.

The bottom line with many of these changes is that anyone who wants to get the most out of government changes, either to get money or to save losing money, should get on their search engines and use the Internet to look after their hip pockets.

It's also a good idea to read me every morning!