Submitted to | House of Representatives |
---|---|
Presented | 14 May 2024 |
Parliament | 47th Parliament of Australia |
Party | Australian Labor Party |
Treasurer | Jim Chalmers |
Total revenue | A$711.5 billion[1] |
Total expenditures | A$734.5 billion[1] |
Tax cuts | A$1,888 on average[1] |
Debt payment | A$23.8 billion[1] |
Surplus | A$9.3 billion[1] |
Deficit | A$28.3 billion[1] |
Debt | 33.9% of GDP[1] |
Website | budget |
‹ 2023 2025› |
The 2024 Australian federal budget was delivered on budget night at 7:30pm on Tuesday, 14 May 2024 by Treasurer Jim Chalmers.[2] The budget will dictate how the Australian Government will allocate an estimated A$715 billion across the federal government, and to state and territory governments.[1] It is the third federal budget handed down by the Labor Party since their victory in 2022. The consultation period described the budget as focused on support for Australians and creating a "stronger, more inclusive and more sustainable economy".[3]