2019 Australian federal budget
 | This article needs to be updated. (June 2020) |
 | |
| Submitted | 2 April 2019 |
|---|---|
| Submitted by | Morrison government |
| Submitted to | House of Representatives |
| Parliament | 45th |
| Party | Liberal/National Coalition |
| Treasurer | Josh Frydenberg |
| Total revenue | $505.521 billion (25.2 % of GDP) |
| Total expenditures | $493.327 billion (24.6% of GDP) |
| Deficit | $85.3 billion (3.4% of GDP) |
| Website | budget.gov.au |
| Notes: Surplus = receipts - payments - net Future Fund earnings. Italics are estimates in the budget ‹ 2018 2020› | |
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
[edit]![[icon]](/wiki/File:Wiki_letter_w_cropped.svg){kind=small} | This section is empty. You can help by adding to it. (March 2022) |
Forecasts
[edit]Revenues
[edit]Income taxation
[edit]Gross 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 taxation
[edit]Goods 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 receipts
[edit]Sales of goods & services $15.745 billion
Interest received $5.701 billion
Dividends $6.165 billion
Other non-taxation receipts $11.512 billion
Memorandum
[edit]Capital 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]
Expenses
[edit]Total $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
[edit] | This section is empty. You can help by adding to it. (March 2022) |
Debt and deficit
[edit]Deficit
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
[edit] | This section is empty. You can help by adding to it. (March 2022) |
Reception
[edit] | This section is empty. You can help by adding to it. (March 2022) |
See also
[edit]
References
[edit]- ^ [Budget Paper 1, Statement 4, Page 17: https://budget.gov.au/2019-20/content/bp1/index.htm]
- ^ [Budget Paper 1, Statement 4, Page 17: https://budget.gov.au/2019-20/content/bp1/index.htm]
- ^ [Budget Paper 1, Statement 5, Pages 49-51: https://budget.gov.au/2019-20/content/bp1/index.htm]
- ^ Archive of Budgets
- ^ Australian Federal Budget analysis 2018/19
External links
[edit]- Official website
- Budget 2019: Winners and losers at ABC News
- Budget Speech transcript, delivered by Josh Frydenberg