Here are Australia’s statutory updates for 2025.
Effective 1 January 2025
Changes for Australian Businesses in 2025
Australia has introduced several key regulatory and compliance changes for businesses effective from 1 January 2025:
- Superannuation Guarantee Rate Increase: The superannuation rate will rise from 11% to 11.5% for all eligible employees.
- Climate Reporting Requirements: Large businesses must start submitting climate-related financial disclosures in line with international standards.
- Data Privacy Rules: Enhanced requirements for businesses handling sensitive customer data, including stricter penalties for breaches.
- Business Grants Expansion: Programs supporting digital adoption, workforce upskilling, and sustainability projects will be extended in 2025.
These changes aim to strengthen business compliance, sustainability, and workforce benefits.
Source: Business.gov.au
Australia Increases Welfare Payments and Support Thresholds
A series of welfare payment increases and reforms will take effect in January 2025, reflecting adjustments linked to inflation and cost-of-living measures.
Key Increases:
- Youth Allowance:
- Recipients will see fortnightly increases of $15 to $30.60, depending on family circumstances.
- Parental income test threshold rises by $2,555 to $65,189 per annum.
- Austudy:
- Single parents with children will receive the largest increase of $30.60 per fortnight.
- Single and partnered recipients without children will see a $24.30 increase.
- ABSTUDY Living Allowance:
- Fortnightly increases range from $1.50 (children under 16) to $54 for Masters or Doctorate students, totalling $1,285.40 per fortnight.
- Disability Support Pension (Under 21):
- Independent singles under 18, those aged 18-20, and partnered recipients will receive increases of $30.10 per fortnight.
These updates aim to improve financial support for students, young Australians, and Aboriginal and Torres Strait Islander recipients.
Source: News.com.au
