Key Budget initiatives

Responding to the global oil shock

✅ $7.5 billion Fuel and Fertiliser Security Facility supporting additional supply and storage

✅ Boosting the Minimum Stockholding Obligation for all fuel types

✅ $3.2 billion to establish the Australian Fuel Security Reserve and bring our total stocks of diesel and jet fuel to 50 days

✅ Over 450 million litres of diesel and 100 million litres of jet fuel secured by Export Finance Australia

✅ 757 million litres of fuel supplied from the Minimum Stockholding Obligation release

✅ Up to 100 million more litres of petrol per month through changes to fuel standards

✅ $1 billion in interest-free loans for affected manufacturing and logistics businesses

✅ $55 million to move more freight by rail and sea

✅ New ACCC powers to enable faster, coordinated industry responses during exceptional circumstances

✅ Releasing $1.1 billion in support for domestic production of low carbon liquid fuels

✅ $40 million to roll out more kerbside and regional EV chargers

✅ $40.5 million to electrify Australia Post's delivery fleet

✅ Establishing a 20 per cent domestic gas reservation

Taking pressure off Australians

✅ A new tax cut for working Australian taxpayers through the $250 Working Australians Tax Offset

✅ A new $1,000 instant tax deduction for Australian workers, with an average saving of $205 for 6.2 million workers for 2026–27

✅ Legislated tax cuts starting 1 July this year and next year, worth up to $536, on top of the first round of tax cuts delivered in 2024

✅ Combined, permanent cost-of-living relief of up to $2,816 per year from 2027–28 for an Australian worker on average earnings, relative to 2023–24 settings

✅ Reforming the tax system to make it easier for Australians to own their own home

✅ $2.9 billion to more than halve the fuel excise and reduce the heavy vehicle road user charge to zero for three months

✅ Empowering the ACCC by doubling competition and consumer law penalties to a maximum of $100 million

✅ Increased ATO flexibility for businesses unable to meet their tax obligations due to fuel supply issues

✅ $2 billion to build critical 'last mile' infrastructure needed for new housing developments, supporting up to 65,000 new homes and taking the total housing agenda to over $47 billion

✅ $59.4 million to support secure housing for over 4,000 young people at risk of homelessness

✅ $1.8 billion to make Medicare Urgent Care Clinics a permanent feature of Australia's health system. These clinics have delivered almost three million free visits nationwide

✅ $5.9 billion to make medicines more affordable through new and amended listings on the PBS for cystic fibrosis, chronic kidney disease, various cancers and more

✅ $9,120 in higher wages for low-paid workers through Annual Wage Review Decisions

Making our economy more productive

✅ $10.2 billion a year reduction in regulatory burden

✅ $13 billion increase to long-run annual GDP through building a Single National Market Unlocking $400 million more R&D investment by young firms each year

✅ 14 new legislative reform proposals to reduce red tape in the financial sector

✅ 13 actions by financial regulators to streamline data collections and reduce costs

✅ Removing 497 more nuisance tariffs to streamline trade and reduce compliance costs

✅ Implementing 'tell us once' reforms that simplify interactions with government

✅ $654.3 million to expand use of Digital ID to reduce the sharing and storage of personal data

✅ More than $500 million to accelerate and streamline environmental approvals

✅ New 30 day target for decisions on all low-risk foreign investment applications

✅ Savings of up to $1,600 a year for small businesses and tradies by providing free access to standards referenced in legislation

✅ Reserving 20 per cent of gas exports for Australians

✅ Accelerating heavy vehicle reforms to increase transport productivity and support the uptake of zero emissions heavy vehicles

✅ Providing $1.5 billion to support research and Australia’s scientific institutions

✅ Better coordinating our more than $39 billion investment in R&D over the next four years through the new National Resilience and Science Council

Tax reform for workers, businesses and future generations

✅ Delivering the most significant transformation of the tax system in more than a quarter of a century

✅ Cutting taxes five times, helping workers keep more of what they earn

✅ A new $250 Working Australians Tax Offset and a $1,000 instant tax deduction, on top of three legislated rounds of tax cuts

✅ Providing an Australian worker on average earnings a combined benefit of up to $2,816 per year from the Government's five tax cuts

✅ Supporting an additional 75,000 Australians to become homeowners by making the tax arrangements for housing investment fairer

✅ More closely aligning the tax rates for trusts with the rates paid by workers who earn a living from wages

✅ Over $3.5 billion in new measures that lower taxes for businesses to reward investment and innovation

✅ Supporting investment and resilience for 85,000 businesses by permanently reintroducing loss carry back

✅ Backing innovation with loss refundability for start-ups, expanding incentives for venture capital and better targeting the Research and Development Tax Incentive

✅ Making the $20,000 instant asset write-off permanent for small business

✅ Making the tax system simpler and more sustainable, with a simplification package that delivers a combined annual compliance savings of over $500 million for workers and businesses

Strengthening care and broadening opportunity

✅ Securing the NDIS for future generations by restoring it to its original intent of supporting people with permanent and significant disability

✅ $2 billion to establish Thriving Kids, to be matched by states and territories

✅ $200 million for the Inclusive Communities Fund to support community organisations to provide group based social support to NDIS participants

✅ $3.7 billion to deliver more beds, more packages and better care for older Australians

✅ An additional $25 billion for public hospitals, which includes funding to improve health outcomes and strengthen First Nations health

✅ $1.8 billion to support ongoing investment in 137 Medicare Urgent Care Clinics

✅ More than four in five GP services bulk billed, supported by over 3,700 fully bulk billing practices

✅ Investing a further $2.2 billion into Services Australia to ensure millions of Australians continue to receive safe, secure and reliable services quickly and easily

✅ $299 million to support an additional 3,000 jobs in remote communities

✅ $48.3 million to support Aboriginal Hostels Ltd deliver critical short-term accommodation services

✅ $182.6 million to make the Child Support Scheme safer and more effective by addressing financial abuse and non-compliance

✅ Over 87,500 additional families eligible for at least 72 hours of subsidised care through the Child Care Subsidy because of the 3 Day Guarantee

✅ $218.3 million to deliver Our Ways – Strong Ways – Our Voices, Australia's first standalone plan to end violence against Aboriginal and Torres Strait Islander women and children

Building a resilient and secure Australia

✅ Supporting jobs in critical industries, including by investing up to $1 billion in the transition of Boyne Island Aluminium Smelter to renewable energy

✅ Strengthening critical minerals supply chains, including through delivering the Critical Minerals Strategic Reserve

✅ A record additional $53 billion investment in Defence capabilities to increase self-reliance and resilience

✅ Up to $15 billion of total investment in autonomous and uncrewed systems in the decade to 2035–36

✅ Achieving better value for money through reforms to Defence's acquisition and sustainment practices and building Australia's defence industrial base

✅ An initial $12 billion to establish the Henderson Defence Precinct as a world class centre of excellence for naval shipbuilding in Western Australia

✅ $8.6 billion for nationally significant road and rail projects, including an additional $3.8 billion for Victoria's Suburban Rail Loop East

✅ $841.7 million to build community infrastructure across Australia

✅ $604.2 million to address hate speech, violent extremism and terrorism

✅ Accepted all 13 recommendations of the Plan to Combat Antisemitism