Budget at a glance

More help for families

This Budget includes the largest package of assistance for families ever, with an additional $19.2 billion over five years.

More generous Family Tax Benefit arrangements will help families with the expense of raising children and improve the rewards from working.

A new Maternity Payment and the expansion of outside‑school‑hours child care and family day care places will assist families balancing work and family commitments. The changes to Family Tax Benefit improve rewards for women re-entering the workforce after having children.

Cutting income tax

Reductions in personal tax worth $14.7 billion over four years mean that more than 80 per cent of taxpayers will face a marginal tax bracket of 30 per cent or less.

Boosting retirement savings

The Government will enhance the superannuation co-contribution scheme by $2.1 billion, boosting incentives for low and middle income employees to save for their retirement. The Superannuation Surcharge will also be reduced.

Investing in Australia’s future

The Government will make a substantial investment in Science and Innovation of $5.3 billion as well as $3.1 billion for land transport infrastructure.

Providing for carers and aged care

The Government is providing an additional $461 million over five years to support carers. The Government is also providing $2.2 billion over five years to the aged care sector.

Investing in Australia’s security

Building on the commitments made over the previous few years, $755 million extra will be provided to enhance Australia’s intelligence capabilities and strengthen security arrangements.