Essential Regulatory Updates for Australian Businesses from July 2026

National Minimum Wage Increase

The Fair Work Commission has announced a 4.75% increase in the National Minimum Wage, raising it to $26.44 per hour, or $1,005 per week. This adjustment applies from the first full pay period starting on or after 1 July 2026. Employers should review their payroll systems to accommodate this change and ensure all employees are compensated accordingly.

Introduction of Payday Super

In a move to enhance the timeliness of superannuation contributions, the Australian government is implementing the Payday Super initiative. From 1 July 2026, employers are required to pay their employees' superannuation contributions concurrently with their wages, rather than on a quarterly basis. This change aims to reduce instances of unpaid or late super contributions, thereby supporting employees in building their retirement savings more effectively.

Increased ASIC Fees

The Australian Securities and Investments Commission (ASIC) will adjust its fees in line with the Consumer Price Index (CPI) increase for the March quarter. Key changes include:

• Business name registration or renewal for one year will increase from $45 to $47.
• Business name registration or renewal for three years will increase from $104 to $108.
• The cost of registering a company will rise from $611 to $636.
• The annual review fee for a proprietary company will increase from $329 to $342.

Businesses should budget for these increased fees and ensure timely payments to maintain compliance.

Parental Leave Pay Extension

Paid Parental Leave will be extended to 26 weeks, providing families with additional time and financial support. While these payments are government-funded, employers will need to manage longer periods of employee leave. It's advisable for businesses to update their parental leave policies and plan for workforce coverage during extended leave periods.

Patent Reminder Process Update

IP Australia is introducing a clearer reminder process for excess patent claims. From 1 July 2026, instead of an estimated six-month reminder, there will be a defined three-month window after requesting examination to review and update claims before examination begins. This change aims to streamline the patent examination process and reduce delays.

These regulatory updates reflect the government's commitment to enhancing employee welfare and ensuring fair business practices. Business owners are encouraged to review these changes thoroughly and implement necessary adjustments to remain compliant and support their employees effectively.