Australian Government, 2006–07 Budget

Budget Overview
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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

The Hon
Peter Costello MP,
Treasurer of the
Commonwealth of Australia

Senator The Hon
Nicholas Minchin,
Minister for Finance and Administration

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