2019 Australian federal budget
The 2019 Australian federal budget was the federal budget to fund government services and operations for the 2019–20 financial year. The budget was presented to the House of Representatives by Treasurer Josh Frydenberg on 2 April 2019. It was the sixth budget to be handed down by the Liberal/National Coalition since their election to government at the 2013 federal election, and the first budget to be handed down by Frydenberg and the Morrison government. All of the figures below are estimates published in the 2019-20 budget documents. Background
ForecastsRevenuesIncome taxationGross income tax withholding $218.1 billion Gross other individuals $47.6 billion Refunds $36.9 billion Fringe benefits tax $3.93 billion Company tax $98.9 billion Superannuation taxation $9.71 billion Petroleum resource rent tax $1.4 billion Indirect taxationGoods and services tax $67.364 billion Wine equalisation tax $1.08 billion Luxury car tax $640 million Excise & customs duty $45.69 billion Major bank levy $1.6 billion Agricultural levies $520 million Other taxes $6.763 billion Non-taxation receiptsSales of goods & services $15.745 billion Interest received $5.701 billion Dividends $6.165 billion Other non-taxation receipts $11.512 billion MemorandumCapital gains tax $18.1 billion Medicare levy $18.15 billion[1] Note: Capital gains tax is part of gross other individuals, company tax and superannuation fund taxes, while the Medicare Levy is included in income taxes.[2] ExpensesTotal $500.872 billion General public services $23.614 billion Defence $32.243 billion Public order & safety $5.919 billion Education $36.350 billion Health $81.777 billion Social Security & Welfare $180.125 billion Housing and community services $5.907 billion Recreation & culture $3.849 billion Fuel & energy $8.171 billion Agriculture, forestry & fishing $2.871 billion Mining, manufacturing & construction $3.442 billion Transport & communication $9.038 billion Other economic affairs $9.297 billion Public debt interest $17.037 billion Nominal superannuation interest $11.127 billion General revenue assistance - States and Territories $69.053 billion General revenue assistance - Local governments $1.275 billion Natural disaster relief $11 million Contingency reserve -$216 million[3] Expenditure
Debt and deficitDeficit The Budget deficit for 2018/19 is expected to be $4.162 billion, falling from $10.141 billion in 2017/18.[4] The surplus for 2019-20 is expected to be around $7 billion. Debt The government's debt level was forecast to be $629 billion in 2019/20.[5] Opposition and crossbench response
Reception
See alsoReferences
External links
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