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Australian Federal Budget 2026-27

In the first Federal Budget since Labor’s re-election last year, the Australian Federal Budget 2026-27 will be handed down by Treasurer Jim Chalmers on Tuesday 12 May 2026. 

A tax perspective

In the first Federal Budget since Labor’s re-election last year, the Australian Federal Budget 2026-27 will be handed down by Treasurer Jim Chalmers on Tuesday 12 May 2026.  

The Treasurer has indicated that this year’s budget will be ambitious, and will include a productivity package, a savings package and the government will consider whether more steps can be taken on tax reform.

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Recommendations

Federal Budget 2025-26 report

The Budget reveals that an underlying cash deficit of $27.6 billion is estimated for 2024-25, a $0.7 billion downgrade compared to the expectation in the Mid-Year Economic and Fiscal Outlook (MYEFO) in December 2024.