Major cuts and new spending
Key cuts and spending by policy area
Cuts and revenue
  • $22.2 million by requiring all ABN holders to lodge a tax return annually from July 1st 2021, and confirm their details and registration from July 1st 2022.
New spending
  • Low and middle income tax offset will increase from $530 to up to $1,080 for singles (or up to $2,160 for couples) starting in 2018-19.
  • Lowering the 32.5% tax rate to 30% in 2024-25. The income threshold for this bracket will be $45,001 to $200,000.
  • 606.7 million financial system oversight funding, including $404.8 million for ASIC in response to the banking royal commission.
Cuts and revenue
  • $296.3 million over four years by cutting the planned target of overseas trained doctors by 155.
New spending
  • $448.5 million from 2020-21 for a new chronic disease care funding model for practices supporting high needs patients.
  • $331 million over five years in new or amended PBS listings, including various high cost cancer treatments.
  • 320 million this year as a one-off increase to the basic subsidy for residential aged-care recipients.
  • $250 million over four years to increase the Medicare levy low-income threshold in line with CPI.
  • $229.9 million over seven years ($140.8 million in forward estimates) to improve mental health services and facilities.
Cuts and revenue
  • No explicit cuts.
New spending
  • $189.1 million over the next four years and $2 billion over 15 years for the Climate Solutions Fund, which will pay businesses and farmers to reduce their carbon footprint. This is a rebadging of the previous emissions reduction fund.
  • $1.4 billion over six years in equity funding for the Snowy 2.0 project.
Read more in our analysis of the climate solutions fund.
Cuts and revenue
  • No explicit cuts.
New spending
  • $2.2 billion road safety package, including $800 million over forward estimates for programs like Black Spot Program, Roads to Recover, and Bridges Renewal.
  • $2 billion from 2021-22 for the delivery of fast rail from Melbourne to Geelong.
  • $1.6 billion over the next four years (for a projected $3 billion total) toward the Urban Congestion Fund, including funding for road projects across states and territories.
  • $450 million over forward estimates (for a projected $1 billion total) in additional funding for the Roads of Strategic Importance initiative.
Cuts and revenue
  • No explicit cuts.
New spending
  • $3.9 billion for an Emergency Response Fund to respond to natural disasters, to be established in October 2019 and funded from money previously earmarked for the Education Investment Fund.
  • $300 million in grants for the cattle industry to respond to recent floods, replacing livestock, infrastructure and replanting crops.
Cuts and revenue
  • No explicit cuts.
New spending
  • $525 million skills package for items such as new apprenticeships and training hubs. This will be mainly funded from the existing Skilling Australians Fund and previously funded education programs.
  • $453 million over two years to extend the provision of 15 hours of preschool through to 2021.
Cuts and revenue
  • No explicit cuts.
New spending
  • $528 million for the Royal Commission into Violence, Abuse, Neglect And Exploitation of People with Disability, including $379.1 million to run the commissions and $149 million to provide counselling and support services.
  • $386 million for sports participation funding for local clubs and elite sports pathways as part of the Sport 2030 plan.
  • $328 million over the next four years to implement the fourth action plan from the National Plan to Reduce Violence Against Women and their Children 2010-2022.
Cuts and revenue
  • No explicit cuts.
New spending
  • Defence spending projected to hit 2% of GDP (a long established government target) by 2020-21.
  • $174.1 million to re-transfer asylum seekers housed on Christmas Island to Nauru and Manus Island, as the government plans to close the facility and repeal the “Medevac” bill.