Headline cuts and new spending
- $1.6 billion to add 13,500 residential aged care and 775 short-term care places for elderly Australians.
- $41 million in seed funding to establish an Australian space agency.
- $24.5 billion infrastructure package over 10 years across the states for key road and rail projects (expand below for more info).
- $478 million in new funding for the Great Barrier Reef, to improve water quality, tackle the crown-of-thorns starfish and promote research into regeneration.
- Income tax cuts through offsets for low and middle income earners (up to $530 per year) and increases to the 32.5% tax bracket (from $87K to $90K in 2018-19) for a cost of $13.4 billion over the next four years.
- $3.6 billion in new revenue over the next four years will come from changing the way tobacco duty is charged to discourage illegal imports and warehouse leakage.
- $2 billion in new revenue as the government tightens restrictions on research and development tax credits for Australian businesses.
- $83.7 million will be cut from the ABC over the next four years, as funding is frozen at 2018-19 levels through to 2021-22.
Key cuts and spending by policy area