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Changes for businesses from 1 July 2024

Changes for businesses from 1 July 2024

The start of the new financial year brings a number of changes that your business should be aware of. We’ve outlined some of the major changes below.

National Minimum wage increase From 1 July 2024, the National Minimum Wage will increase by 3.75%. This means the new National Minimum Wage will be $24.10 per hour, or $915.90 per week. 

Company and business name fees In line with an increase in the Consumer Price Index (CPI) for the March quarter, the Australian Securities and Investment Commission will increase company fees and business name fees from 1 July 2024. 

Changes to casual employment There are multiple changes to casual employment laws coming into effect this year, including a new definition of a casual employee and a new pathway for converting from casual to permanent employment.

The right to disconnect The new ‘right to disconnect‘ means that eligible employees will have the right to refuse contact outside of working hours. This change starts on 26 August 2024 for non-small business employers and 26 August 2025 for small business employers.

Ban on engineered stone A ban on the manufacture, supply, processing and installation of engineered stone benchtops, panels and slabs will be implemented in Australia from 1 July.