From claiming the deductions you're entitled to, to understanding changes to wages, super, paid parental leave, tax and more, here's your guide to the end and start of the financial year.

Top tax tips:

Your IEU membership is fully tax-deductible: don't forget to include it in your tax return!
Quick, give generously! Also tax deductible are contributions to charities such as APHEDA, the Australian union movement's global justice organisation, which strives for the achievement of dignity at work, social justice, economic equality, and the realisation of human rights in our region and around the world. The end of the financial year is the perfect time to donate to an important cause.
Don’t rush to lodge on July 1. Other income – like bank interest, dividends or managed fund distributions – can take longer to appear. If you lodge too early, you risk leaving things out.
Wait until your income statement is marked “tax ready” on MyGov. The ATO now pre-fills much of your income data, but your employer must finalise it first.
Always double-check pre-filled data. Even when information is auto-filled, it’s your responsibility to make sure it’s accurate.
Declare all your income. The ATO doesn’t see everything. You still need to include things like capital gains from selling shares or property, and any income from side jobs or contract work (including if you use an ABN).

Deductions for educators

To ensure you know what items you can claim as a tax deduction, head to the ATO’s Tax advice for teachers and education professionals, a (relatively) simple guide to common deductions.

Don’t forget that educators often forget to include the depreciation on technology like computers, laptops, printers, mobile phones and tablets that cost more than $300. These can all be claimed if they are used for work purposes.

You can also claim for conferences, excursions, courses travel, textbook, meal, and accommodation costs linked to your career that come out of your own pocket.

For assistance or advice, particularly if your tax arrangements are complicated, consult an accountant – tax advice is tax deductible too!

Now that we’ve activated your inner accountant, get ready for the really good bit – 1 July!

Changes coming 1 July

Like most years, many important legislative changes come into effect on the first day of the new financial year.

Minimum wage pay increase

Australian Unions explained this important change in the following manner:

Who: Nearly three million workers (almost 25% of all workers in Australia).

What: A pay increase of at least 4.75%.

When: From 1 July 2026.

Where: All of Australia.

Why: Union members, of course!

Around 2.8 million of Australia’s lowest-paid workers will get a 4.75% pay rise from July 1. The very lowest-paid workers – about 100,000 people on entry-level and minimum pay – get a bigger 5.97% pay bump.

The National Minimum Wage will rise from $24.95 to $26.44 an hour (almost 6%), or up from $948 a week to $1,004.90 per week. Most award minimum rates will increase by 4.75%, with the lowest rates receiving a slightly larger boost.

Australian unions fought for an increase with their submission to the Fair Work Commission’s Annual Wage Review, which sets the National Minimum Wage and minimum award pay rates.

For many of these workers, it's their biggest – and sometimes only – opportunity for a pay rise each year.

Pay day super

From 1 July, pay day super comes into effect, meaning workers will be paid super on pay day, not months later (or sometimes not at all). This will make the way your super is paid more transparent and help combat wage theft.

Australian Unions says this will leave ordinary workers thousands of dollars better off in the long term, while guarding against a persistent problem of super being underpaid.

Paid parental leave

This vital payment increases by ten days, to a total of 26 weeks from July 1, and the payment will increase to $1,004.70 per week. You can read more about how PPL works in our sector here.

Tax cut

From July 1, the current lowest income tax rate, which applies to income from A$18,201 to $45,000, will be reduced from 16% to 15%.

So a person earning $45,000 or more will save $268 a year.

SMS register to fight scams

The Conversation reports that from 1 July, scam text messages using fake government sender IDs such as "AusGov" should be grouped into a single "unverified" message thread on your phone.

For years, scammers have tricked people into clicking malicious links by using fake sender IDs. A text appearing to come from "AusGov" could easily be mistaken for the legitimate "myGov", fooling recipients into believing it came from the Australian Government.

1 July 2027: Housing measures will help educators

The Independent Educatin Union of Australia said the federal budget rightly focused heavily on housing affordability, introducing new housing and tax measures aimed at restoring fairness.

“Teachers, support staff and the ECEC workforce are at the centre of this generational challenge, often unable to live and work in their local community.

“While IEU members continue to win wage increases across the country, prices are rising faster. Essential workers are being locked out of home ownership or squeezed by high rents. It will take a graduate teacher over 20 years just to save for a 20% house deposit.

“This is why the IEU is part of a national union campaign for fair and secure housing. The budget measures mark an important step towards rebalancing fairness in the housing system.”

1 July 2027 (proposed): Changes to negative gearing and the capital gains tax discount are due to begin, subject to Parliament passing the legislation.
2026–27 onwards: Construction is expected to begin on the Government's 100,000-home program for first-home buyers, alongside ongoing investment in housing infrastructure and social housing.

Unions had a huge say in all of these important advances, reminding us of what workers can achieve when they stand together and get organised.

IEU on EOFY: Why 30 June and 1 July matter for every educator