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The Australian government's debt level was forecasted to be $977 billion for 2022–23, whilst net debt was forecasted to be $714.9 billion. Debt was forecasted to reach $1.16 trillion by the 2015/26 financial year.
An Australian federal budget is a document that sets out the estimated revenues and expenditures of the Australian Treasury in the following financial year, proposed conduct of Australian government operations in that period, and its fiscal policy for the forward years. [1]
The budget will dictate how the Australian Government will allocate an estimated A$715 billion across the federal government, and to state and territory governments. [1] It is the third federal budget handed down by the Labor Party since their victory in 2022. The consultation period described the budget as focused on support for Australians ...
Employers make compulsory payments to these funds at a proportion of their employee's wages. From Jan 2025, the mandatory minimum "guarantee" contribution is 12%. [1] The superannuation guarantee was introduced by the Hawke government to promote self-funded retirement savings, reducing reliance on a publicly funded pension system. [2]
The 2023–24 Australian federal budget is the federal budget to fund government services and operations. The budget was presented to the House of Representatives by Treasurer Jim Chalmers on 9 May 2023. It was the second budget handed down by the Australian Labor Party since their election to government in 2022.
Former Australian rules footballer Neale Daniher is named 2025 Australian of the Year. [45] 26 January – The 2025 Australia Day Honours list is announced. [46] Allen Cheuk-Seng Cheng, Megan Davis, James Edelman, Gillian Triggs, Lyn Williams and Galarrwuy Yunupingu are all bestowed with the highest honour of the Companion of the Order of ...
The October 2022 Australian federal budget was the federal budget to fund government services and operations. The budget was presented to the House of Representatives by Treasurer Jim Chalmers on 25 October 2022. It was the first budget to be handed down by the Australian Labor Party since their election to government at the 2022 federal election.
The Albanese government is the federal executive government of Australia, led by Prime Minister Anthony Albanese of the Australian Labor Party.The Albanese government commenced on 23 May 2022, when Albanese and an interim ministry of four other Labor MPs were sworn into their relevant ministerial portfolios by the Governor-General of Australia. [1]