The 2017 Australian federal budget was the federal budget to fund government services and operations for the 2017–18 financial year. The budget was presented to the

House of Representatives House of Representatives is the name of legislative bodies in many countries and sub-national entities. In many countries, the House of Representatives is the lower house of a bicameral legislature, with the corresponding upper house often ...

Treasurer A treasurer is a person responsible for the financial operations of a government, business, or other organization. Government The treasury of a country is the department responsible for the country's economy, finance and revenue. The treasure ...

Scott Morrison Scott John Morrison (born 13 May 1968) is an Australian former politician who served as the 30th prime minister of Australia from 2018 to 2022. He held office as leader of the Liberal Party of Australia, leader of the Liberal Party and was ...

on 9 May 2017. It was the fourth budget to be handed down by the Liberal/National Coalition since their election to government at the

2013 federal election The 2013 Australian federal election to elect the members of the 44th Parliament of Australia took place on Saturday, 7 September 2013. The centre-right Liberal/National Coalition opposition led by Opposition leader Tony Abbott of the Liberal ...

, and the second to be handed down by Morrison and the

Turnbull government The Turnbull government was the federal executive government of Australia led by the 29th prime minister of Australia, Malcolm Turnbull, from 2015 to 2018. It succeeded the Abbott government, which brought the Coalition to power at the 2013 Au ...

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Taxation

The Medicare levy was to be increased from 2% to 2.5% of taxable income, with effect on 1 July 2019. The proposed levy increase was scrapped on 25 April 2018. A bank levy of 0.06% was imposed on the liabilities (ie., deposits) of the five biggest banks (

Commonwealth Bank The Commonwealth Bank of Australia (CBA), also known as Commonwealth Bank or simply CommBank, is an Australian multinational bank with businesses across New Zealand, Asia, the United States, and the United Kingdom. It provides a variety of fi ...

Westpac Westpac Banking Corporation, also known as Westpac, is an Australian multinational banking and financial services company headquartered at Westpac Place in Sydney. Established in 1817 as the Bank of New South Wales, it acquired the Commerc ...

National Australia Bank National Australia Bank Limited (abbreviated NAB, branded and stylised as nab) is one of the four largest Banking in Australia, financial institutions in Australia (colloquially referred to as "Big Four (banking), The Big Four") in terms of mar ...

, ANZ and Macquarie) and was expected to generate $6.2 billion over four years. The legislation passed parliament on 19 June and came into effect on 1 July 2017. Broadcasting licence fees paid by free-to-air broadcasting networks were reduced by $90 million. The "deficit levy" of 2% on personal incomes over $180,000 expired on 30 June 2017.

Expenditure

Commonwealth funding for schools will increase by $18.6 billion over 10 years from 2017 to 2027. The Australian Government will invest $5.3 billion into the construction of the

Second Sydney Airport The need for and location of a second airport serving Sydney, New South Wales, Australia, was the subject of much debate. The new airport would supplement or replace the city's existing Kingsford Smith Airport. Governments had debated the issue ...

over 4 years from 2017 to 2021.

Social security and welfare

Infrastructure, transport and energy

Education

University funding will be a reduced by 2.5%. University fees will go up by $2,000 to $3,600 for a four-year course, an increase of 1.8% in 2018, and 7.5% by 2022. From 1 July 2018, the income level at which HECS debt repayments start will be reduced, from $55,000 to $42,000.

Defence

Health

Funding for hospitals will increase to $2.8 billion dollars over 4 years.

Opposition and crossbench response

Critical reception

References

{{Australian federal budget Australian budgets

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 pol ...

Federal budget

May 2017 in Australia