On a national stage, the first day of the new financial year will bring with it significant changes to penalty rates, set to impact businesses and casual employees. 

The change will see about 700,000 Australians in the fast food, hospitality, retail and pharmacy sectors have their Sunday penalty rates reduced. 

The changes caused significant division within the Tasmanian community, with small businesses supporting the measures, but those receiving penalty rates and low income earners expressing their concerns.

From July 1, the minimum wage is also set to increase by 3.3 per cent, up 59 cents per hour from its current rate.

This will see those earning the national minimum wage receiving $694.90 per week, or $18.29 per hour, a pay rise of $22.20 a week. 

Employers raised concerns that this could impact businesses and employment growth, but unions were calling for a larger increase. 

The First Home Super Saver Scheme is also set to be launched on Saturday, meaning voluntary contributions of up to $15,000 per year and $30,000 in total can be made to a superannuation fund to purchase a first home. 

But withdrawals from the account will not be allowed until July 1 next year.

The federal government said it expected this to boost savings by least 30 per cent compared to a standard deposit savings account. 

On a state level, as of July 1 the National Disability Insurance Scheme will be extended to those between the ages of four and 11.

This means that from Saturday, the scheme will be open to all eligible Tasmanians aged from four to 28, with further extensions planned until July 2019. 

Tasmanians will also see the extension of the First Home Builders Grant continued at $20,000 as well as changes to stamp duty.

This will mean the expenses are paid only on the value of the land and existing improvements.

The news was welcomed by the building industry, but the Real Estate Institute of Tasmania instead called for changes to stamp duty on established properties.

A new sharing economy policy will also mean Airbnb and Stayz operators with up to four bookable rooms will not be required to apply for a permit.

A new payroll tax scheme will offer tax relief for employers hiring apprentices and trainees for the next two years.

Business proprietors have to pay the tax when the yearly sum of the wages they pay is more than $1.25 million.