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2019 Australian Federal Budget
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 Forecasts Revenues Income taxation 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 Goods and services tax $67.364 billion Wine equalisation tax $1.08 billion Luxury car tax $640 million Excise & custom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Morrison Government
The Morrison government was the federal executive government of Australia, led by Prime Minister Scott Morrison of the Liberal Party of Australia, between 2018 and 2022. The Morrison government commenced on 24 August 2018, when it was sworn in by the Governor-General of Australia. It was composed of members of the Liberal– National Coalition and succeeds the Abbott (2013–2015) and Turnbull (2015–2018) coalition governments in office, competing against the Australian Labor Party as the major Opposition party. Nationals Leader Michael McCormack served as Deputy Prime Minister of Australia from the formation of the Morrison government until June 2021. He was replaced as Leader of the Nationals and Deputy Prime Minister by Barnaby Joyce. Scott Morrison served as Treasurer in the Turnbull government and became Prime Minister following the resignation of Malcolm Turnbull in 2018. The Coalition had been led to government at the 2013 Election by Tony Abbott, however Malc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
House Of Representatives Of Australia
The House of Representatives is the lower house of the bicameral Parliament of Australia, the upper house being the Senate. Its composition and powers are established in Chapter I of the Constitution of Australia. The term of members of the House of Representatives is a maximum of three years from the date of the first sitting of the House, but on only one occasion since Federation has the maximum term been reached. The House is almost always dissolved earlier, usually alone but sometimes in a double dissolution of both Houses. Elections for members of the House of Representatives are often held in conjunction with those for the Senate. A member of the House may be referred to as a "Member of Parliament" ("MP" or "Member"), while a member of the Senate is usually referred to as a "Senator". The government of the day and by extension the Prime Minister must achieve and maintain the confidence of this House in order to gain and remain in power. The House of Representatives ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
45th Parliament Of Australia
The 45th Parliament of Australia was a meeting of the legislative branch of the Australian federal government, composed of the Australian Senate and the Australian House of Representatives. It met in Canberra from 30 August 2016 to 4 April 2019. The 2016 general election held on 2 July gave the Coalition of the Liberal and National Parties control of the House, albeit with a slimmer majority than the 44th Parliament, allowing their leader Malcolm Turnbull to stay in office as the 29th Prime Minister of Australia. During the term of the parliament, the government slipped into minority due to defections and by-elections. The leadership of the government also changed during the parliament, when Scott Morrison replaced Turnbull as Liberal Leader and Prime Minister in August 2018. The 45th Parliament was officially prorogued by the Governor-General Sir Peter Cosgrove at 8:29 a.m. on 11 April 2019, and the House of Representatives dissolved at 8:30 a.m.. 2016 federal election ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coalition (Australia)
The Liberal–National Coalition, commonly known simply as "the Coalition" or informally as the LNP, is an alliance of centre-right political parties that forms one of the two major groupings in Australian federal politics. The two partners in the Coalition are the Liberal Party of Australia and the National Party of Australia (the latter previously known as the Country Party and the National Country Party). Its main opponent is the Australian Labor Party (ALP); the two forces are often regarded as operating in a two-party system. The Coalition was last in government from the 2013 federal election, before being unsuccessful at re-election in the 2022 Australian federal election. The group is led by Peter Dutton, who succeeded Scott Morrison after the 2022 Australian federal election. The two parties in the Coalition have different voter bases, with the Liberals – the larger party – drawing most of their vote from urban areas and the Nationals operating almost excl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Josh Frydenberg
Joshua Anthony Frydenberg () (born 17 July 1971) is an Australian former politician who served as the treasurer of Australia and deputy leader of the Liberal Party from 2018 to 2022. He also served as a member of parliament (MP) for the division of Kooyong from 2010 to 2022. After leaving university, Frydenberg served as an adviser to Prime Minister John Howard and Foreign Minister Alexander Downer during the Howard Government. He also worked for Deutsche Bank until his election to the Australian House of Representatives at the 2010 federal election. Quickly appointed to the frontbench, he went on to serve in several ministerial roles during the Abbott and Turnbull governments from 2013 to 2018, including as Minister for Resources and Minister for the Environment and Energy. In August 2018, he was elected as deputy leader of the Liberal Party following a leadership spill, which saw Scott Morrison elected as leader and prime minister. Morrison subsequently appointed Fryd ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Federal Budget
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. Budgets are called by the year in which they are presented to Parliament and relate to a financial year that commences on the following 1 July and ends on 30 June of the following year, so that the budget brought down in May relates to the / financial year (1 July – 30 June , FY). Revenue estimates detailed in the budget are raised through the Australian taxation system, with government spending (including transfers to the states) representing a sizeable proportion of the overall economy. Besides presenting the government's expected revenues and expenditures, the federal budget is also a political statement of the government's intentions and priorities, and has profound ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian House Of Representatives
The House of Representatives is the lower house of the bicameralism, bicameral Parliament of Australia, the upper house being the Australian Senate, Senate. Its composition and powers are established in Chapter I of the Constitution of Australia. The term of members of the House of Representatives is a maximum of three years from the date of the first sitting of the House, but on only 1910 Australian federal election, one occasion since Federation has the maximum term been reached. The House is almost always dissolved earlier, usually alone but sometimes in a double dissolution of both Houses. Elections for members of the House of Representatives are often held in conjunction with those for the Senate. A member of the House may be referred to as a "Member of Parliament" ("MP" or "Member"), while a member of the Senate is usually referred to as a "Senator". The government of the day and by extension the prime Minister of Australia, Prime Minister must achieve and maintain the c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treasurer Of Australia
The Treasurer of Australia (or Federal Treasurer) is a high ranking official and senior minister of the Crown in the Government of Australia who is the head of the Ministry of the Treasury which is responsible for government expenditure and for collecting revenue. The Treasurer plays a key role in the economic policy of the government. The current Australian Treasurer is Jim Chalmers whose term began on 23 May 2022. The Treasurer implements ministerial powers through the Department of the Treasury and a range of other government agencies. According to constitutional convention, the Treasurer is always a member of the Parliament of Australia with a seat in the House of Representatives. The office is generally seen as equivalent to the Chancellor of the Exchequer in the United Kingdom or the Secretary of the Treasury in the United States or, in some other countries, the finance minister. It is one of only four ministerial positions (along with Prime Minister, Minister fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2013 Australian Federal Election
The 2013 Australian federal election to elect the members of the 44th Parliament of Australia took place on 7 September 2013. The centre-right Liberal/National Coalition opposition led by Opposition leader Tony Abbott of the Liberal Party of Australia and Coalition partner the National Party of Australia, led by Warren Truss, defeated the incumbent centre-left Labor Party government of Prime Minister Kevin Rudd in a landslide. Labor had been in government for six years since being elected in the 2007 election. This election marked the end of the Rudd-Gillard-Rudd Labor government and the start of the 9 year long Abbott-Turnbull-Morrison Liberal-National Coalition government. Abbott was sworn in by the Governor-General, Quentin Bryce, as Australia's new Prime Minister on 18 September 2013, along with the Abbott Ministry. The 44th Parliament of Australia opened on 12 November 2013, with the members of the House of Representatives and territory senators sworn in. The state ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Government Debt
:''Throughout this article, the unqualified term "dollar" and the $ symbol refers to the Australian dollar.'' The Australian government debt is the amount owed by the Australian federal government. The Australian Office of Financial Management, which is part of the Treasury Portfolio, is the agency which manages the government debt and does all the borrowing on behalf of the Australian government. Australian government borrowings are subject to limits and regulation by the Loan Council, unless the borrowing is for defence purposes or is a 'temporary' borrowing. Government debt and borrowings (and repayments) have national macroeconomic implications, and are also used as one of the tools available to the national government in the macroeconomic management of the national economy, enabling the government to create or dampen liquidity in financial markets, with flow on effects on the wider economy. The net government debt is gross government debt less its financial assets, which i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Australia
Australia is a highly developed country with a mixed-market economy. As of 2022, Australia was the 14th-largest national economy by nominal GDP ( Gross Domestic Product), the 20th-largest by PPP-adjusted GDP, and was the 22nd-largest goods exporter and 24th-largest goods importer. Australia took the record for the longest run of uninterrupted GDP growth in the developed world with the March 2017 financial quarter. It was the 103rd quarter and the 26th year since the country had a technical recession (two consecutive quarters of negative growth). As of June 2021, the country's GDP was estimated at 1.98 trillion. The Australian economy is dominated by its service sector, which in 2017 comprised 62.7% of the GDP and employed 78.8% of the labour force. At the height of the mining boom in 2009–10, the total value-added of the mining industry was 8.4% of GDP. Despite the recent decline in the mining sector, the Australian economy had remained resilient and stable and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In Australia
Income taxes are the most significant form of taxation in Australia, and collected by the federal government through the Australian Taxation Office. Australian GST revenue is collected by the Federal government, and then paid to the states under a distribution formula determined by the Commonwealth Grants Commission. Australia maintains a relatively low tax burden in comparison with other wealthy, developed nations, at 27.8% of GDP in 2018. History When the first Governor, Governor Phillip, arrived in New South Wales in 1788, he had a Royal Instruction that gave him power to impose taxation if the colony needed it. The first taxes in Australia were raised to help pay for the completion of Sydney's first gaol and provide for the orphans of the colony. Import duties were put on spirits, wine and beer and later on luxury goods. After 1824 the Government of New South Wales raised extra revenue from customs and excise duties. These were the most important sources of revenue for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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