Federal Budget
Your Federal Budget summary
May 11, 2023
The Federal Budget at a glance Budget deficit of $13.9 billion in 2023/24 Commonwealth net debt to rise to $574.9 billion (22.3 per cent of GDP) in 2023/24 Economic growth to fall to 1.5 per cent in 2023/24 Unemployment rate to rise to 4.25 per...[Read More]
Billions set aside for aged care reforms
October 26, 2022
Long-awaited aged care reforms are set to be delivered thanks to a multi-billion dollar boost. The federal budget shows $2.5 billion will be spent over the next four years to ensure all aged care facilities have a registered nurse onsite around the...[Read More]
What we know so far about federal budget
March 17, 2022
FEDERAL BUDGET – WHAT WE KNOW SO FAR: THE BIG PICTURE * With the COVID-19 pandemic, flooding and Ukraine-Russia war creating headwinds, Treasurer Josh Frydenberg is emphasising the theme “economic strength is the foundation of national...[Read More]
Record $17.7b to improve aged care system
May 11, 2021
Rebecca Gredley (Australian Associated Press) A record $17.7 billion will go toward improving Australia’s aged care system in response to a damning royal commission into the sector, which heard harrowing tales of abuse and neglect. The...[Read More]
Main points in the 2020/21 federal budget
October 8, 2020
Paul Osborne (Australian Associated Press) A SUMMARY OF THE 2020 FEDERAL BUDGET ECONOMY * Budget deficit of $213.7 billion in 2020/21 * Deficit narrows to $112 billion in 2021/22, $87.9 billion in 2022/23 and $66.9 billion in 2023/24 *...[Read More]
Federal budget 2020/21 at a glance
October 6, 2020
Paul Osborne (Australian Associated Press) THE FEDERAL BUDGET AT A GLANCE KEY FORECASTS Budget deficit of $213.7 billion for 2020/21 (11 per cent of GDP) Economic growth to fall by 1.5 per cent Unemployment to average 7.25 per cent Inflation...[Read More]
Go ‘hard and smart’ in budget: economist
September 9, 2020
Colin Brinsden, AAP Economics and Business Correspondent (Australian Associated Press) Leading economist Chris Richardson has warned that while Australia has dealt with the coronavirus at a sprint, the battle for jobs will be a marathon. He is...[Read More]
What to expect from the 2019 federal budget
April 24, 2019
Money and Life (Financial Planning Association of Australia) Millions of Australians could potentially look forward to tax relief thanks to the latest federal budget announcement from Treasurer Josh Frydenberg. Together with measures to introduce...[Read More]
Budget’s winners and losers
April 3, 2019
(Australian Associated Press) Winners and losers in the 2019 federal budget. WINNERS Taxpayers – $158 billion of additional tax relief for those earning up to $126,000 a year West Australians – Rules around $69 billion GST...[Read More]
Government eyes corporate tax dodgers
April 3, 2019
(Australian Associated Press) The federal government has stepped up efforts to ensure big business and the extremely wealthy pay their fair share of tax with a $1 billion expansion of the ATO’s tax avoidance taskforce. It expects to...[Read More]
A summary of the 2019 Federal Budget
April 2, 2019
(Australian Associated Press) A SUMMARY OF THE 2019 FEDERAL BUDGET ECONOMY – Budget surplus forecast of $7.1 billion, the first in 12 years – Surplus forecast rising to $11 billion In 2020-21 and then $17.8 billion in...[Read More]
Federal budget: Tax policy battle ramps up
March 27, 2019
Marnie Banger(Australian Associated Press) Scott Morrison’s government is doing its best to talk down Labor’s promises of bigger tax cuts if it wins the upcoming federal election, as speculation mounts the coalition could bring...[Read More]
Budget brought forward, election in May
November 28, 2018
Marnie Banger and Angus Livingston(Australian Associated Press) Scott Morrison will deliver an early budget to allow for a May election, assuming his coalition government can hold together that long. The prime minister says the April 2 budget...[Read More]
Key final budget figures for 2017/18
September 26, 2018
Paul Osborne(Australian Associated Press) KEY FIGURES FROM FINAL BUDGET OUTCOME FOR 2017/18 * Budget deficit of $10.1 billion * A $19.3 billion improvement on 2017/18 Budget estimate. * Real GDP grew by 2.9 per cent (2.75 in Budget) *...[Read More]
Smallest deficit in a decade: Treasurer
September 26, 2018
Marnie Banger(Australian Associated Press) The federal government has delivered the smallest budget deficit in a decade, on the back of a bigger tax take and growing economy. The deficit in 2017/18 was $10.1 billion in the year, or 0.6 per...[Read More]