Here’s what landed this week for Australian small businesses. It was a big one — the wage umpire handed down its decision, the economy’s March-quarter scorecard came out, and the ATO put out its tax-time guide just as the end of financial year comes into view. Here’s the plain-English version of what matters and why.
The minimum wage is going up from 1 July
The Fair Work Commission handed down its Annual Wage Review on Tuesday 2 June. Award wages rise 4.75%, and the National Minimum Wage lifts to $1,004.90 a week — that’s $26.44 an hour, up from $24.95. It applies from the first full pay period on or after 1 July 2026.
Why it matters: If you employ anyone on an award or the minimum wage, your payroll costs go up from the first July pay run — not from 1 July exactly. Worth checking now which of your staff are affected and updating your payroll software before that pay period starts, so nobody’s underpaid by accident.
Fair Work Ombudsman — Annual Wage Review 2026
The economy grew, but only just
The ABS released the March-quarter national accounts on 3 June. GDP rose 0.3% for the quarter and 2.5% over the year. Growth was modest, with households and government spending subdued. One bright spot: business investment in machinery and equipment rose 6.0%, its biggest lift in 30 years.
Why it matters: It’s a slow-but-steady read. Consumer spending is still soft, so if your customers are tightening up, you’re not imagining it. The flip side is that businesses investing in equipment are still doing so — and there’s a tax reason for that this year (see below).
ABS — Australian economy grew 0.3% in the March quarter
The ATO’s 2026 tax-time toolkit is out
The ATO has released its small-business tax-time toolkit — a 30-page plain-English guide covering deductions, home-based business expenses, vehicle and travel claims, software subscriptions, and what’s changed this year.
Why it matters: It’s genuinely useful and free, and it flags a couple of things that catch people out — including that general interest and shortfall interest charges are no longer tax-deductible from 1 July 2025. If you do your own books, it’s worth a skim before you start your return. If your accountant does them, it’ll tell you what they’ll be asking for.
ATO — Tax Time toolkit for small business
The clock is ticking on a few 30 June deadlines
A handful of end-of-financial-year things all land on 30 June this year, and it’s worth knowing them now rather than in the last week:
- The $20,000 instant asset write-off — not yet law: the $20,000 threshold for 2025–26 has been announced but hasn’t passed Parliament, so it isn’t law yet. If it’s legislated, eligible assets under $20,000 bought and installed ready to use by 30 June 2026 would qualify — but don’t bank on the deduction until it passes. Worth a quick word with your accountant before you buy on the strength of it. ATO — $20,000 instant asset write-off for 2025–26
- The Small Business Super Clearing House closes for good on 30 June 2026. If you use it to pay staff super, you’ll need to download your records and move to another option before then. ATO — About Payday Super
- National Energy Bill Relief for small businesses (up to $150 off electricity) closes on 30 June 2026 — check whether you’ve already had it applied or need to act. business.gov.au — National Energy Bill Relief for Small Businesses (2025–26)
Why it matters: None of these are urgent today, but all three quietly expire at the same time. A 10-minute check now beats a scramble in late June.
That’s the week. None of it needs a panic response — but the wage change and the 30 June deadlines are the two worth putting in your calendar. If any of it is unclear or you’d just like a second pair of eyes, you’re welcome to message a real person.