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Here's A List Of What's Changing For The New Financial Year

The good, bad and pricey

Here's A List Of What's Changing For The New Financial Year

You did it. You finally made it to the halfway mark for 2017. And you know what that means.. TAX TIME!!!

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But while cash is splashing into once hand, rest assured it'll leave the other faster than you can say Cha-Ching.

Here's a list of changes happening across the country for the new financial year.

From July 1:

YOU'LL BE PAYING MORE FOR NETFLIX

The prices of digital products, including streaming services like Netflix, will increase by about 10 per cent as the application of the GST is extended.

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POWER PRICES ARE GOING UP

Surprise surprise. The big providers AGL, Origin and Energy Australia all announced big increases for the new fin year following their annual review of prices, customers could see prices hikes up to 20 per cent.

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RELIEF AT THE AIRPORT

All hail advancing technology. If you're leaving the country you'll no longer have to fill in that pesky green passenger card. Unfortunately you'll still have to fill out the card if you're arriving in Australia. Bummer.

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BIGGEST CHANGES TO SUPER IN YEARS

Contributions and the way superannuation and retirement income is taxed are getting a shake-up. If you earn less than $40,000 annually or are self-employed, you'll benefit from some more flexible rules.

High income earners or those with large super balances will be subject to new contribution limits and a balance cap that will change how much can be added to an individual's super pool.

While, first-home buyers will be allowed to use up to $30,000 of voluntary superannuation contributions for a deposit on a house or apartment.

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CUTS TO PENALTY RATES

Australia's lowest paid workers will wear cuts to Sunday penalty rates, under a Fair Work Commission decision.

But, 2.3 million Aussies will get a 3.3 per cent pay rise after the commission agreed to change the minimum wage rate.

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KIWIS REJOYCE

July 1 signals a new streamlined pathway to permanent residency for New Zealand citizens.

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