Treasurer Jim Chalmers presented a Federal Budget with a surplus, but more importantly an economic strategy to help ease cost-of-living pressures.
Some of the major budget announcements made on the 14th May included tax cuts for all 13.6 million Australian taxpayers to ease cost of living pressures.
Energy cost relief was also a key focus area for the government, with more than 10 million households receiving a $300 rebate. Support for renters was also announced with the government providing $1.9 billion over 5 years to increase maximum rates of the Commonwealth Rent Assistance by a further 10 per cent.
For a full breakdown of the 2023 Budget, refer to budget.gov.au
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