July 1st marks the start of a new financial year, a time for sales and tax returns, but it is also the date many recent government decisions come into effect.
Those changes range from penalty rates to power prices to a rise in politicians' pay.
Howard Wu manages a Chinese restaurant in Canberra that, he says, is bracing for higher power prices.
Electricity bills will rise around the country this financial year, by as much as 15 to 20 per cent in some states.
Mr Wu says his restaurant is already energy-intensive and the price hike will hurt his profit margin.
"We have to provide all the cooling and heating, and also the fridges, especially the frozen part of the fridges, is very important to us. We store all the ingredients in there. And once the power goes up, it's very bad for us."
Australia's biggest energy companies, including AGL, Origin and Energy Australia, have all revealed significant price hikes in recent weeks.
The biggest rises for homes and businesses will be in New South Wales and South Australia, with the average Adelaide business to pay an extra $1,500 over the next 12 months.
Energy providers are blaming recent closures of coal-fired power stations and increased demand for gas.
But Energy Networks Australia chief executive John Bradley says customers can lessen the impact if they shop around.
"This will be a real impact on customers that are just sitting there accepting their current retailer's price increases as they come through. There's no doubt that there have been increases in wholesale market costs. But if customers are shopping around and looking for the best deal, figures indicate they could be saving between $200 on up to $600, depending on where they live."
Depending on who you are, the amount of tax you pay could now change.
Those in the top tax bracket earning more than $180,000 a year will no longer need to pay the 2 per cent budget-repair levy, so they get a tax cut.
Small businesses will also get a tax break.
But online shoppers will be slugged with the so-called Netflix Tax, which applies to digital products and services bought from overseas.
That includes streaming services, video games and software.
Workers in fast food, hospitality, retail and pharmacy will be affected by cuts to Sunday penalty rates that will gradually phase in now.
On the eve of the changes, Opposition Leader Bill Shorten has again called it unfair that high-income earners will pay less tax while weekend casuals take a pay cut.
"Tomorrow is a dark day for Australia's workforce. Malcolm Turnbull will be giving millionaires a $16,500 pay (rise), but he will be giving 700,000-plus workers a pay cut in their award system on Sunday. It's not good enough. We need the government of Australia to be standing up for the interests of all Australians."
The Government's new tax on the five biggest banks also comes into effect, and some banking chiefs have warned the cost will be passed on to customers and shareholders.
But it is not all bad news.
The country's lowest-paid workers will get a slight increase in the minimum wage, working out to about $20 extra each week.
At the other end of the spectrum, there is a 2 per cent pay rise for politicians, with Prime Minister Malcolm Turnbull's salary to rise by around $10,000.
There are changes to superannuation, too, including an $80,000 reduction in the cap on after-tax contributions.
And high-income earners will be affected by a new $1.6 million cap on tax-free superannuation accounts for pensions.
