1 July is the start of Australia’s financial year — the day tax and super changes cluster. Here are the three from 1 July 2026 that matter to Korean-Australians.
The bottom line
- Rate cut: the second bracket goes 16% → 15% ($18,201–$45,000) — a small cut for almost every taxpayer
- Payday Super: employers pay super at the same time as wages (good for employees)
- Div 296: extra tax on the portion of super above $3M — irrelevant for most, worth knowing
- Sponsored-visa salary floors: Core Skills up to $79,499, Specialist to $146,717 (only if you’re on a 482 etc.)
- Bonus: a $1,000 instant work-expense deduction (no receipts)
① The rate cut (16% → 15%)
From 1 July 2026 the second bracket ($18,201–$45,000) drops from 16% to 15% (legislated). If your income exceeds that bracket, it’s about A$268 a year. It falls again to 14% from 1 July 2027.
② Payday Super — super paid with your wages
Employers can currently bundle super quarterly, but from 1 July 2026 they must pay it each time they pay you (reaching your account within 7 business days). That’s good for employees — super accrues faster and more steadily, and unpaid super surfaces quickly. Nothing for you to do to receive it, but it’s easier to see your super land on time.
③ Div 296 — extra tax on very large super (most people: N/A)
For someone whose super balance exceeds $3M (about three million Australian dollars), the earnings attributable to that excess get an extra 15% (and an extra 25% on the portion above $10M). After negotiation the design was softened from the original proposal: the most controversial part — taxing unrealised (“paper”) gains — was dropped, so only realised earnings are taxed, and both the $3M and $10M thresholds are now indexed to inflation (so ordinary members aren’t dragged in over time). It starts 1 July 2026, first assessed over the 2026–27 year. Treasury estimates it affects only about 0.5% of members — it doesn’t apply to most Korean-Australians (only very large balances, e.g. an SMSF) — but if you hold high super, review it with a professional.
Bonus: the $1,000 instant deduction
From 2026–27, wage earners can deduct up to $1,000 of work-related expenses without receipts (optional). Less paperwork for small expenses.
Only if you use a sponsored visa: higher salary floors (CSIT · SSIT)
Separately from tax and super, employer-sponsored (nomination) visas also change each 1 July. From 1 July 2026 the minimum salary floors a sponsor must meet rose 3.9% through indexation.
- Core Skills Income Threshold (CSIT): $76,515 → $79,499
- Specialist Skills Income Threshold (SSIT): $141,210 → $146,717
These floors apply to new nomination applications from 1 July 2026 (including renewing an existing visa), and you must meet the floor or the annual market salary rate, whichever is higher. Subclass 482 (Skills in Demand), 186, and 494 are in scope.
👉 If you’re planning to settle or extend on a sponsored visa, check in advance that the offered salary clears the new floor — fall a little short and the nomination itself can be blocked. Separate from the visa ‘price’ (fees) rising, budget for the fact that the ‘qualifying salary’ also rises every year. (On fees, see Australia’s ‘entry ticket’ just got pricier — visa fees up ~25%.)
What it means for Korean-Australians
- If you work: the rate cut + Payday Super slightly improve take-home and super accrual
- If you hold large super: check the Div 296 impact
- On a sponsored visa (settling/extending): check the offered salary clears the new floor ($79,499 · $146,717)
- Everyone: these are 1 July changes, so check your July payslip and super statement once
Read next
- Australian tax and super for newcomers · The Korea–Australia money map
- Your Australian super when you move to Korea · Tax residency, Korea vs Australia
- Australia’s EV FBT full exemption — March 2027 is the line
- Australia’s ‘entry ticket’ just got pricier — visa fees up ~25%
- Australia’s working holiday now runs to 35 — the money maths in your 30s
- Filing your Australian tax return early can cost you — 7 mistakes
Disclaimer: Figures are general information on the basis in effect at commencement. Confirm your own situation — and any large-super impact — with the ATO or a professional.