What changes affecting your wallet are coming on July 1?

A few changes are looming on July 1 that may affect some New Zealanders' household finances. <b>By Susan Edmunds of </b><a href="https://www.rnz.co.nz/news/personal-finance/642076/what-changes-are-coming-on-1-july" target="_blank"><b>RNZ</b></a> While April 1 brought in changes – including adjustments to KiwiSaver contribution rates, benefit rates and the minimum wage – the changes taking effect from Wednesday are more limited. From July 1, the price of all domestic courier and express products and services will increase. As well, the price of a letter will increase by 70c, so a medium-sized letter will cost $3.60 to post and a large letter $4.90. In 2004, the price of a standard letter was 45c. If that had increase only with the general rate of inflation over that time, it would be 79c now. In 2023, 7.6% of households reported spending money on postage, down from 19.3% in 2007. People who have been receiving weekly ACC compensation for more than 26 weeks will have their payments increased by 1.97% from July 1. The maximum rate of weekly compensation payable, before tax, is $2466.20 From July 1, people who are eligible for paid parental leave will get a bit more each week. The maximum rate will increase from $788.66 to $811.05 a week before tax. The minimum rate for self-employed people lifts from $235 to $239.50. People are paid the same amount they would normally earn in an average week, before tax, capped at that $811.05 limit. To qualify, you need to be the child's primary carer, and have worked an average of at least 10 hours a week for any of the 26 weeks in the 52 before the baby is due or the child comes into your care. Changes take effect for the Fire and Emergency NZ levy, on insurance policies taken out or renewed from July 1. The Department of Internal Affairs said vehicle owners would pay an annual levy amount of $25, up from $9.53 currently and up from $0 for people who only have third-party insurance. This levy is per vehicle and includes motorbikes. Homeowners will pay a maximum $107.40 on house insurance, down from $119.50 previously. The maximum amount charged on contents policies will be $21.48, down from $23.90. Non-residential property will have a rate of 7.76c per $100 of sum insured, without a cap. From July, until June 2028, the government is setting aside $93 million to help sole parents find jobs. That includes more case management, increased flexi-wage funding, improved work placement programmes and a fund to support sole parents looking for work.