Budget at a glance:
Under the Government’s economic plan, jobs are being created and the budget is returning to surplus.
The 2019-20 Budget reinforces the Government’s plan to invest in Australia’s future by strengthening the economy while keeping taxes low and guaranteeing essential services.
This includes more investment in a strong healthcare system, more support for older Australians and more funding for education and skills.
The Government is providing lower taxes for hard-working Australians, backing small business and improving the integrity of the tax system.
In this Budget, the Government is providing additional tax relief of $158 billion. This is on top of the $144 billion in tax cuts legislated in last year’s Personal Income Tax Plan. The Government is also helping businesses reinvest, employ more workers and grow, by increasing and expanding access to the instant asset write-off.
The Government is investing in economic and community infrastructure, including $100 billion in transport infrastructure projects over the next decade.
The Government’s Climate Solutions package will reduce emissions whilst helping households and businesses lower their energy bills.
The Government is also taking action to support farmers and their communities to recover and rebuild after natural disasters.