From www.cpaaustralia.com.au: The 2025-26 Australian Federal Budget, presented by Federal Treasurer Dr. Jim Chalmers on March 25, 2025, includes modest income tax cuts effective from July 1, 2026, and $150 in energy bill relief for small businesses and households.

The budget forecasts a deficit of $42.1 billion, an increase from the previous year, with real GDP growth projected at 2.25 percent and inflation at 3 percent.

Concerns were raised about the absence of a permanent instant asset write-off and increased funding for the Australian Tax Office to enhance tax compliance.