The 2006‑07 Budget provides for an underlying cash surplus of $10.8 billion, the Government's ninth surplus.
A comprehensive tax reform plan
- Another instalment of personal tax reform including tax cuts worth $36.7 billion over the next four years.
- Major improvements to business taxation to encourage take‑up of new technology and to simplify taxes for small business.
- A plan to dramatically simplify and streamline superannuation which represents the most significant change in nearly 20 years.
Other key initiatives
- $2.3 billion will be provided for road and rail infrastructure, including to upgrade key sections of the Hume, Bruce and Pacific highways more quickly.
- The budget also includes a $1.9 billion boost to funding for mental health services.
- Families, older Australians and carers will receive more support.
The Ministers of Budget
Peter Costello MP,
Treasurer of the
Commonwealth of Australia
Senator The Hon
Minister for Finance and Administration