The Federal Budget 2025 Thoughts?

Checkmate3023 on 26/03/2025 - 10:50
Last edited 26/03/2025 - 15:06

The 2025 Australian federal budget, delivered by Treasurer Jim Chalmers, outlines significant measures aimed at addressing cost-of-living pressures, healthcare, housing, and economic growth. Here's a detailed breakdown:

Tax Cuts

  • A $17 billion tax relief package is the centerpiece of the budget.
  • The tax rate for the $18,201-$45,000 income bracket will be reduced from 16% to 15% in 2026-27, and further to 14% in 2027-28.
  • This translates to a $268 tax cut in 2026-27 and $536 in 2027-28 for individuals in this bracket.

Healthcare

  • An $8.5 billion boost to Medicare aims to expand bulk billing and improve access to healthcare services.
  • Additional funding is allocated for women's health initiatives, including specialist clinics for conditions like endometriosis.

Housing

  • The "Help to Buy" scheme is expanded, enabling more first-home buyers to access government contributions towards their homes.
  • Investments are made to increase affordable housing options.

Energy Relief

  • Households and businesses will receive an additional $150 in energy bill relief, continuing efforts to mitigate rising energy costs.

Education

  • Free TAFE places are being expanded to enhance workforce skills and readiness.
  • Specific funding is allocated for educational initiatives in Western Australia, including support for First Nations students and upgrades to educational facilities.

Public Service and Infrastructure

  • The Australian Public Service (APS) sees significant changes, including the creation of new roles and reductions in outsourcing costs.
  • Major infrastructure projects include upgrades to the Kwinana Freeway in Western Australia and investments in regional road infrastructure.

Deficit and Economic Outlook

  • The budget projects a $42.1 billion deficit for the 2025-26 financial year, with deficits forecasted for subsequent years.
  • Real wages are expected to grow by 0.5% by the end of the current financial year, and GDP growth is forecasted at 2.25% for 2025-26.

This budget reflects the government's focus on balancing immediate cost-of-living relief with long-term economic sustainability.

https://budget.gov.au/

Poll thoughts on the budget

(Assuming someone doesn't beat me too it I'll post another forum on the Federal budget reply after it is released)

Poll Options

  • 149
    Very Poor
  • 14
    Poor
  • 44
    Average
  • 207
    Good
  • 10
    Very Good
Financial Federal Budget

Comments

            • Checkmate3023 on 27/03/2025 - 16:55
              -2

              @youfnc: Triggered

            • Crow K on 27/03/2025 - 17:14
              -1

              @youfnc: I'm glad he said "I don't make assumptions about people I don't know" at the end there or otherwise I would have been a bit worried what with all his calling people on here triggered SJWs etc

              But he told us he actually doesn't do that so it's all good

              • youfnc on 27/03/2025 - 17:47

                @Crow K: I believe his reply of "triggered" was a result of him being upset by my last reply. After all, as he so graciously pointed out, he doesn’t make assumptions. There’s absolutely no way he'd send a dismissive reply like that. Naturally, I never intended to upset him, so I’d like to offer a very sincere apology.

                • Crow K on 27/03/2025 - 17:55
                  +1

                  @youfnc: Ah, "thoughts and prayers".

                  It's always a blessed day when we can offer thoughts and prayers to a conservative who just likes to tell things how they are :)

                • Checkmate3023 on 27/03/2025 - 18:16
                  -1

                  @youfnc: So very triggered

                  Have a nice afternoon

    • brendanm on 27/03/2025 - 22:13
      +2

      There are people on plans worth in excess of $1m each. $1m for one person. Absolutely insane.

      • tenpercent on 27/03/2025 - 22:21
        +1

        WTAF

      • gyrex on 27/03/2025 - 23:02

        Also, the idea that taxpayers are forking out for hookers, alcohol and drugs for NDIS scammers is abominable.

  • bbinc on 27/03/2025 - 10:24
    +4

    There’s a hidden sting in the budget. Legislation has already been passed in the House and is before the senate.
    The sting is a new tax on unrealised capital gains. Tax on money you may never get.
    Before you pile on and point out it is only on super balance earnings on balances over $3 million, this limit is not indexed. It currently only affects 0.5% of the population, and will never affect me, but for people aged under, say, 40 yrs, inflation may see much larger balances than this.
    So this is a new tax - we’ve never had tax on unrealised gains, AND the cap is not indexed. Once unrealised gains are introduced to the tax system, politicians will be tempted to spread it more generally - my guide is history.
    Just something to be aware of even if it doesn’t affect you now.

    • Checkmate3023 on 27/03/2025 - 10:54
      +1

      Yea without indexation i dare say this might cost the ALP the election - the issue is they have a finance minister with no finance education or experience

    • gyrex on 27/03/2025 - 11:48
      +2

      How is the media not picking up on this new tax? Taxing unrealised capital gains is an asinine idea and one which I think nearly everyone would object to!

      • tenpercent on 27/03/2025 - 20:55
        +1

        Where has the policy actually come from? Did it actually originate from ALP members or some lobby group / think tank? Then ask what other connections does that lobby group / think tank have for example to media?

    • unfunkable on 27/03/2025 - 12:29
      +2

      Yes, biggest BS ever….tax on something not realised….like WTF!!!

    • SpainKing on 27/03/2025 - 19:28
      +3

      Some additional things to keep in mind:
      -If the unrealised capital gains amount taxed is not accurate you get a tax credit
      -Policy tends to change over 20-25 years (retirement age for a 40 year old today)
      -The cap is very likely to be adjusted over 20 years with any government being in
      -Indexation would be a great change to the policy, but it would be preferable if this was done to our income tax rather than fighting for it here
      -Super is often used as a tax break for the wealthy (say those with $3 million contributed into their super)
      -Assessing unrealised capital gains to tax them may cost more than it brings in (unlikely, but likely to be quite high) and is a weird, likely expensive way of going about it
      -This will not somehow make your super balance fall to $0 or be worthless

      Ready for the downvotes for giving both sides. I'm not a fan of the policy but wanted to explore why it would be less of a deal than everyone will catastrophise it as being

    • tenpercent on 27/03/2025 - 20:52
      -1

      Only superannuation for now. Won't be long until this affects every negatively geared mum and dad investor and every single one of each of their 10 investment properties.

  • PerthMan96 on 27/03/2025 - 16:00
    +3

    doesnt really matter, the woke will only vote woke to keep their voices heard

    • WillKillfor5Cents on 27/03/2025 - 17:38
      -1

      Mate… don't say that. You'll get cancelled for not being woke in these days and age. Instead of being able to listen to each other. Easier that way huh.

      Have my plus vote, coz you'll likely drown in negative votes from the blind wokkers LMAO

  • gentlekoala5906 on 28/03/2025 - 07:07
    -2

    We'll be in $1T debt, thanks Albo 🤮

  • Alonzo on 28/03/2025 - 23:10
    -1

    Puerile push polling.
    Publish your cr*p elsewhere mate.
    Why is ozbargain supporting this junk????

  • Lunarboogie on 29/03/2025 - 07:06

    Life long Greens voter here. The major parties are as bad as each other and put their own petty internecine priorities ahead of the national interest.

    Political ambition has evaporated. Labour was once the party of Curtin, Whitlam and Hawke. Albo is leading a poor cover version. It's an apostasy.

    We need a third force in politics to keep the bastards from creating further damage.

    • TrulyUnicorn on 29/03/2025 - 15:53
      +2

      Respectfully, this "both sides bad" commentary that's trending these days is incredibly harmful. Democracy is in a state of global decline at the moment and Australia is one of the few remaining countries that has managed to ward off this wave of populism that is destroying our collective faith in institutions and the political process.

      It's disingenuous to say there is no difference when Dutton's Super Homebuyer Scheme would ransack superannuation, cost Australian's hundreds of thousands in their lifetime earnings, greatly cost future government revenues and throw gasoline on the current housing market. At a time when Labor is actively making historical investments into science and climate technology - and frankly doing a fine job all things considered.

      I share your frustration with Labor's backsliding and lack of ambition but realistically in the current political climate they'd get torched for trying anything major and then doom the country to the aforementioned liberal housing policy.

      • tenpercent on 29/03/2025 - 16:17
        -3

        Respectfully, this "both sides bad" commentary that's trending these days is incredibly harmful. Democracy is in a state of global decline at the moment and Australia is one of the few remaining countries that has managed to ward off this wave of populism that is destroying our collective faith in institutions and the political process.

        Blah blah blah.
        Other readers, please ignore the mindless ramblings of that rusted on <Labor/Liberal> voter.

        95% of their policy positions are the same.
        They vote together on on all the major authoritarian and police state legislation.
        Neither has a long term vision for the country.
        Both sold out Australia and the majority of Australia's publicly owned assets to fat cats years ago for cents on the dollar.
        Flip flop back and fourth yet the country continues to decline.

        Insanity is doing the same thing over and over again and expecting different results

        Respectfully, promoting the idea that you do have more than two choices is the most pro-democracy thing that has been said in this thread or the other recent Budget themed one.

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