Financial changes 2026: What you need to know

The new year may have only just begun, but major financial reforms are already beginning to come into effect in Australia.

This is just the beginning though. Here are eight changes that will affect everything from superannuation and tax to the way Australians pay in 2026.

1. Energy rebates

Australian households won't receive rebates on their energy bills in 2026 following the end of a federal government initiative.

First announced in the 2023 Federal Budget, eligible households have received hundreds of dollars' worth of electricity bill relief over the last two years.

However, as part of the recent Mid-Year Economic and Fiscal Outlook, Treasurer Jim Chalmers announced that the rebates wouldn't continue beyond December 31.

2. Cash acceptance

Many retailers are now required to accept cash payments for in-person transactions if they sell essential items like fuel and groceries.

The requirement, which came into effect on January 1, applies to businesses with an annual turnover of more than $10 million.

The new rules are limited to cash transactions of $500 or less made between 7am and 9pm though.

3. Three-day childcare guarantee

From January 5, Australian families eligible for the Child Care Subsidy will be able to access at least three days of government-subsidised childcare each week (72 hours per fortnight).

This is following the decision to scrap the old activity test.

The federal government anticipates that the guarantee will benefit more than 66,000 families in the 2026-27 financial year.

4. Income tax cuts

From July 1, all Australian taxpayers will receive a tax cut when the tax rate applicable to the $18,201 to $45,000 income bracket drops from 16% to 15%.

In July 2027 the rate will then be dropped again, from 15% to 14%.

The change, which was announced in the 2025 Federal Budget, is expected to save taxpayers $268 in its first year compared to the existing tax settings.

5. Payday superannuation

Back in November, payday superannuation laws passed through parliament, paving the way for the policy to come into effect this year.

The change means that, from July 1, employers will be required to pay super to their employees at the same time as their salary or wages.

Advocates estimate that because super will be paid more regularly, the compounding effects will add thousands to some balances at retirement. It's also hoped the change will reduce instances of unpaid super.

6. Tax on higher super balances

Elsewhere on the super front, earnings on larger superannuation balances are set to be taxed at a higher rate from July 1.

The changes still need to be legislated, but assuming they are, earnings on balances over $3 million will be taxed at 30% (up from 15%), while earnings on balances over $10 million will be taxed at 40%.

Unlike the government's original proposal, the new balance thresholds will be indexed and the plan to tax unrealised capital gains won't be included.

7. Paid parental leave

Australians looking to take time off work following the birth or adoption of their child will be able to get 26 weeks of government-funded paid parental leave from July 1.

That's an increase on the 24 weeks that parents can currently access.

Since July 2025, parents have also been receiving 12% superannuation on paid parental leave funded by federal government.

8. Card surcharges

Debit and credit card users could see card surcharges scrapped as early as July, if a proposal from the Reserve Bank of Australia (RBA) comes to fruition.

In a paper published last July, the RBA argued that surcharging on eftpos, Mastercard and Visa cards should be removed, and interchange fees should be capped - moves that could save consumers and some businesses billions.

The RBA is set to make a final decision on March 2026 after a period of consultation, so the actual implementation date (if it goes ahead) is unknown.

Get stories like this in our newsletters.