Businesses along the agriculture supply chain will need to make adjustments to accommodate a suite of policy, regulatory and law changes that come into operation at the beginning of the financial year.
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Here's everything you need to know about the changes, that include a tax cut for every Australian taxpayer as of July 1, a pay bump for federal politicians, an overhaul of working holiday maker visa rules and new parental leave entitlements.
1. Visa changes
Working Holiday Visa exemptions for UK passport holders will kick in on July 1 and mean UK citizens will no longer need to undertake regional work requirements to apply for their second and third extension of a working holiday visa.
The system has provided the horticulture industry with labourers for years and, according to some farmers, has been the between their business remaining viable or not.
A recent National Farmers Federation survey found 63pc of respondents rating the removal of the 88-day work incentive, requiring working holidaymaker visa holders to complete three months of specified work before they qualify to apply for a visa extension, would have a "catastrophic" impact on their businesses and 20pc said it would be "significant."
It will also become more expensive to get a passport with the cost of adult passports rising from $325 to $374.
NFF acting chief executive Charlie Thomas said the industry was "extremely concerned" that removing UK backpackers from the system was just the start after the Regional Migration Review suggested other nations could follow.
"Backpackers are critical to agriculture and regional Australia," he said.
"In the coming months farmers will be able to better assess the fallout from the British backpacker change, but farmers have warned it will cut deep.
"The Federal Government must prioritise smart solutions and incentives to farm work and with the Regional Migration Discussion Paper out for consultation, the time is right to build up migration settings, not tear them down."
2. Harvest trail axed
The Government has cut the Harvest Trail Services and Harvest Trail Information Service programs to save $47.3 million and $11.1m respectively.
Nationals leader David Littleproud said the program helped connect farmers with thousands of backpackers and jobseekers during the harvest period, or the harvest trail.
Wide Bay pineapple farmer Col Hawken said the program was useful in providing workers and background checks, "ensuring we get the workers we actually need".
"It also stops backpackers from getting ripped off too," he said.
"This was a really useful program that Labor is abolishing with very little notice. Labor doesn't understand that farmers plan two and three years out.
"There is no alternative scheme to replace it. There is just nothing."
Mr Thomas said farmers were "blindsided" by the program being axed in the budget as it was a key conduit connecting potential harvest workers, including locals and backpackers, with farm work.
"In just the first three months of this year, the Harvest Trail Information Service was contacted 8,077 times," he said.
"By pulling this program with no consultation at all, farmers have been left in the lurch."
3. Minimum Wage
Full-time workers on the minimum wage will take home an extra $33 a week from July 1.
The Fair Work Commission lifted both minimum wages and award rates by 3.75 per cent in June to address the current cost-of-living crisis.
About one in five Australian workers, or 2.6 million people, will be affected impacted.
Based on a regular 38-hour week, the change means that minimum wage employees will have their weekly wages rise from $882.80 to $915.90.
2. Superannuation guarantee rate
Workers should have the amount of superannuation paid by employers increase in the new financial year.
From July 1 the superannuation guarantee will rise from its current rate of 11pc to a new rate of 11.5pc for the 2024-25 financial year. Then from July 2025 the rate will increase one more time to 12pc.
There is also a change in concessional contributions. Tax-deductible contributions will rise from $27,500 to $30,000 from July 1.
3. Energy bills
Households will receive a $300 energy rebate from July, while eligible small businesses will get a $325 rebate.
Commonwealth Rent Assistance will increase by 10pc for more than one million households with the government spending $1.9 billion over the next five years.
On average, those on rent assistance will receive an extra $19 per fortnight.
The rent assistance rise is the first time there has been consecutive increases in the payment in 30 years.
5. Paid parental leave
Two weeks of additional payments will be added to the paid parental leave scheme from July 1, 2024 until it reaches 26 weeks from July 1, 2026.
Both parents can take four weeks of leave at the same time if they choose to from 2026 in a bid to boost flexibility.
6. Stage three tax cuts
All Australian workers will get a tax cut ranging from $350 up to $4500 depending on their income bracket when the federal government's stage three tax cuts take effect on July 1.
Under the changes, the lowest tax rate for people earning between $18,201 and $45,000 will fall from 19 per cent to 16 per cent, while the 32.5pc tax rate will fall to 30pc for those earning above $45,000, but will now cut off at $135,000.
People earning between $135,000 and $190,000, a $10,000 increase, will pay 37pc tax. The 37pc bracket currently starts at $120,000.
Meanwhile, the top tax bracket of 45pc will now kick in at $190,000 instead of $180,000.
7. Centrelink
The amount pensioners and for those on a disability support pension and carer payments can earn, and still receive a full pension rate, will be lifted from July 1.
A single pensioner's rate will rise by $8 from $204 to $212 per fortnight and a couple will be able to earn an extra $12 per fortnight as that rate rises from $360 to $372 a fortnight.
8. Ban on engineered stone
It will be illegal to work with engineered stone, the crushed stone and resin material is mainly used to make household bench tops. It is being outlawed due to a rise in the diagnosis of silicosis among those cutting and handling it.
9. Politician pay rise
Federal politicians will receive a pay rise of 3.5pc. It means that for the first time, the prime minister's salary will surpass $600,000, with Anthony Albanese earning $607,471 a year.