Union members win change this financial year

Published: 04/07/2024
Category: Analysis
Published: 04/07/2024
Category: Analysis

Monday was the start of a new financial year, and with that came a number of changes that benefit workers. 

These changes are great example of what union members can achieve, particularly when we have a Labor government in power ready and willing to support working people.

Cost-of-living tax bonus for all workers

Every taxpayer will be receiving a cost-of-living tax bonus. When you check your first payslip for the new financial year, double-check it. You should see a pay bump!

The amount you receive depends on your current salary, and you can check that using our cost-of-living bonus calculator.

This is a key feature of the Albanese Government’s comprehensive cost-of-living relief package that ensures every taxpayer in the country pays less tax this financial year.

Minimum and award wage increase

Both minimum and award wages increased on 1 July by 3.75%, benefiting 2.6 million workers.  

Let’s not forget business lobbyists were calling for a rise of no higher than 2%, effectively arguing for Australia’s lowest wage earners to receive a real pay cut during a cost-of-living crisis.

Paid Parental Leave

The amount of Paid Parental Leave parents has increased to 22 weeks. This will increase again to 24 weeks on 1 July 2025 and 26 weeks on 1 July 2026. 

This leave can be shared between both parents, regardless of gender.

Banning Engineered Stone

Thanks to union members, Australia will be the first country to ban the use, supply and manufacture of deadly engineered stone products

There is no safe way to work with engineered stone. This is a much-needed change that will save workers’ lives and set an example on the global stage.

$300 Energy Bill Relief

Every Australian household will receive $300 off their electricity bills over the next year. 

The relief will come in the form of automatic reductions of $75 for each your quarterly power bills, and is another of the Albanese Government’s core cost-of-living relief measures.

Superannuation Guarantee

Superannuation is a proud union legacy, based on the simple idea that after a lifetime of work, all workers deserve a dignified and comfortable retirement. 

From 1 July 2024, the superannuation guarantee increases from 11% to 11.5% (and will increase again next year on 1 July to 12%).

Union members winning change

What do all these changes have in common? They were fought for, and won, by union members. 

Be part of the change

Union members win change this financial year

Union members win change this financial year