updated 5mo ago
Australia
Treasurer Jim Chalmers will deliver the 2025β26 Budget at approximately 7:30 pm (AEST) on Tuesday 25 March 2025. I will share updates in this post as they come.
Key Resources π Budget Summary PDF β πΊ Budget Live Stream β
π Other Resources: - Official Budget Website - KPMG Budget FAQ
π Click on the bookmark button below to bookmark this post.
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@gregormendel 1y ago
Looks like no information on Migration Planning Levels in this budget so we will just have to keep waiting. Once they are released, they are published here
@gregormendel 1y ago
Net overseas migration(i) FY2023/24: 435,000 Outcome FY2024/25: 335,000 Forecast FY2025/26: 260,000 Forecast FY2026/27: 225,000 Forecast
Net overseas migration is forecast to be 225,000 in 2027β28 and 2028β29. The migration forecast does not incorporate the ABS National, state and territory Population released on 20 March 2025.
@gregormendel 1y ago
Tax cuts From 1 July 2026, the 16 per cent tax rate, which applies to taxable income between $18,201 and $45,000, will be reduced to 15 per cent. From 1 July 2027, this tax rate will be reduced further to 14 per cent.
@gregormendel 1y ago
Medicare: In this Budget, the Government is making a record investment of $7.9 billion to provide more bulk billing so people can see a general practitioner (GP) for free. This is the largest single investment in Medicare since its creation over 40 years ago.
@gregormendel 1y ago
Banning foreign buyers of established homes The Government will ban foreign buyers from purchasing existing dwellings for two years from 1 April 2025 and will provide the Australian Taxation Office (ATO) $5.7 million to enforce the ban. The Government will also provide $8.9 million to the ATO and Treasury to target land banking by foreign buyers and ensure vacant land in Australia is put to productive use within a reasonable amount of time. https://budget.gov.au/content/03-housing.htm
@gregormendel 1y ago
Medicare big change: 9 out of 10 GP visits should be Bulk billed by end of the decade
@gregormendel 1y ago
The Governmentβs new tax cuts will put more money in peopleβs pockets.
A worker on average earnings will get a new tax cut of $268 in 2026β27 and $536 per year from 2027β28, compared to 2024β25 tax settings.
Combined with the first round of tax cuts, they will receive a total tax cut of $1,922 in 2026β27 and $2,190 per year from 2027β28, compared to 2023β24 tax settings.
In 2027β28, the average combined annual tax cut across all taxpayers is expected to be $2,548, or around $50 per week.
@gregormendel 1y ago
Budget Speech is now Live: https://www.youtube.com/watch?v=5zk00GXp_jU
@gregormendel 1y ago
@all I will share updates in this thread on 25 March 2025 7:30 pm AEST onwards.
@vmlhello 1y ago
Ok
@zanykangaroo2113 1y ago
Hi sir i have 80 points including state point for 491 visa under 149914 code. Can i get grant in future
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@umairsamad · 1y ago
@gregormendel What will be planning levels for next year as per your experience ?