The Treasurer delivered the Federal Budget on Tuesday 14 May 2024
Budget documentsOverview
Overview documents highlighting the key measures from the 2024–25 Budget.
Overview documents
Easing cost-of-living pressures
Responsible cost-of-living relief and helping Australians keep more of what they earn
Building more homes for Australians
Building more homes and better transport for cities, regions and suburbs
Investing in a Future Made in Australia
Investing in a Future Made in Australia and the skills to make it a reality
Strengthening Medicare and the care economy
Building a better health system than improves outcomes
Broadening opportunity and advancing equality
Supporting women, Aboriginal and Torres Strait Islander Australians and the most vulnerable
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Tax cuts for every taxpayer
The Government is delivering tax cuts for all 13.6 million Australian taxpayers to ease cost-of-living pressures.
Power bill relief
More than 10 million households will receive a total rebate of $300. Eligible small businesses will receive $325 on their electricity bills throughout the year.
Support for renters
The Government is providing $1.9 billion over five years to increase maximum rates of Commonwealth Rent Assistance by a further 10 per cent.
Cheaper medicines
The Eighth Community Pharmacy Agreement will include a one-year freeze on maximum PBS co-payment for everyone.
Student-debt relief
The Government will cut $3 billion in student debt for more than 3 million Australians.
Help to build, rent and buy
This Budget invests a further $6.2 billion in specific housing initiatives, taking the Government's total new investment since 2022 to $32 billion.
Regional community infrastructure
The Budget includes $101 million to upgrade regional airports, remote airstrips and other connecting infrastructure.
A Future Made in Australia
The $22.7 billion Future Made in Australia package will facilitate private sector investment, creating new jobs and opportunities.
A renewable energy superpower
We are unlocking more than $65 billion of investment in renewable capacity, and investing $27.7 million to integrate batteries and solar into the grid.
Clean energy technologies
The Budget commits $1.5 billion to manufacturing clean energy technologies, including the Solar Sunshot and Battery Breakthrough Initiative.
Science and innovation
The Budget includes $466.4 million to build the world’s first commercial-scale quantum computer.
Reforming tertiary education
The Budget commits $1.6 billion over 5 years to reform the tertiary education system and deliver a future workforce.
Defending Australia
The Government is investing an additional $50.3 billion over ten years to implement the 2024 National Defence Strategy.
Support for small business
This Budget's Small Business Statement reaffirms the Government's commitment to small businesses, with $641.4 million in targeted support.
Medicare and health services
Strengthening Medicare with a $2.8 billion investment, including $1.2 billion to address health system pressures. Improving access to medicines and mental health support.
Improving aged care
$2.2 billion for aged care reforms and continue implementing Royal Commission reforms.
Aboriginal and Torres Strait Islander Australians
Investing $2.4 billion over five years in priority areas including jobs, health, education, justice, housing and essential services.
Supporting the most vulnerable
Getting NDIS back on track. Supporting job seekers with new paid employment pathways, partial capacity to work and place-based projects.