From kpmg.com: On 25 March 2025, Treasurer Jim Chalmers presented the 2025-26 Australian Federal Budget, which forecasts a deficit of $27.6 billion and includes personal income tax cuts starting in July 2026.

The budget emphasizes cost-of-living relief measures, such as $1.8 billion for energy bill rebates and increased funding for healthcare, while also proposing a 20% reduction in student loans.