Australian Government Announces $17.1 Billion Tax Cuts in 2025 Budget

The budget focuses on cost-of-living relief, healthcare funding, and economic resilience as deficits return ahead of the May election.

Tax cuts worth $17.1 billion, targeting middle-income earners, will begin in 2026, providing annual savings of up to $536 per taxpayer by 2027.
The budget allocates $8.5 billion to Medicare to expand bulk billing, aiming to make 90% of GP visits free by 2030.
A $3 billion investment in green metals and $20 million for promoting Australian-made goods aim to support local industries amid global trade tensions.
The budget projects a $27.6 billion deficit for 2024-25, with national debt expected to surpass $1 trillion in 2025-26.
Additional measures include student debt relief, energy rebates, and pay increases for aged care and childcare workers.