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Insights

2024-25 Federal Budget: Key Winners and Losers

 🚀

Federal Treasurer Jim Chalmers has delivered a $9.3bn surplus, focusing on responsible cost-of-living relief and strategic investments amid global uncertainties.


🏆 Winners 🏆

  • Households: $300 energy rebate. 💡🏠

  • Small Businesses: $325 energy rebate and extended $20,000 asset write-off. 🏢

  • Taxpayers: Tax cuts averaging $36/week. 💵

  • Renters: 10% boost to Commonwealth Rent Assistance. 🏘️

  • Healthcare: Prescription cost caps and wage increases for aged and childcare workers. 💊👵👶

  • Women: Super on paid parental leave, funding for shelters, and support for domestic violence victims. 👩

  • Mental Health: $888.1m for improved services and new walk-in centers. 🧠

  • Uni Students: HECS debt interest tied to CPI or wage price index. 🎓

  • Farmers: $519.1m for drought resilience. 🚜


💼 Losers 💼

  • Welfare Recipients: No increase in Jobseeker or Youth Allowance payments. 💔

  • First Home Buyers: No new measures; focus remains on increasing housing stock. 🏡

  • Motorists: No changes to the fuel excise. ⛽

  • Sheep Farmers: Phasing out live sheep exports by 2028. 🐑


This budget aims to provide immediate relief while investing in Australia’s future. 📈

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