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Federal Budget 2025-26
The 2025-26 Federal Budget was handed down on Tuesday, 25 March 2025.
As expected, there were few surprises with Labor's fourth Budget focused on measures aimed at easing cost of living pressures. Unexpectedly, this included proposed tax cuts. Measures to increase the Medicare levy low-income thresholds were also announced.
Super was largely left unchanged with no further announcements on Division 296 tax measures or relaxing residency requirements for small super funds.
Our FirstTech team has unpacked the Budget proposals and summarised their analysis, including potential considerations for your clients’ advice strategies, in the FirstTech 2025-26 briefing paper available below.
In this short video, FirstTech's Craig Day discusses some of the key proposals announced in the 2025-26 Federal Budget
Hello, and welcome to Parliament House in Canberra, where the Federal Government has just handed down the Federal Budget for 2025-26. And, as I anticipated, it did include some of those cost-of-living measures that were previously announced, such as energy bill relief and cheaper medicines.
However, the big surprise is this time we're also getting a tax cut, but not until the 1st July 2026, and it will be a small tax cut, not fully phased in until the 1st of July 2027, and it'll be worth about $530. Now, other than some changes to Medicare and the availability of bulk billing, that was pretty much it, with no major announcements in relation to superannuation or social security pensions or allowances.
However, saying that it's going to be interesting to see whether the government has kept its powder dry for the upcoming election campaign. Now, as per usual, FirstTech will be putting together our Federal Budget briefing paper, where we will provide a full analysis of all the major announcements.
In addition, there will be FirstTech webinars going ahead tomorrow. So, if you want to register for one of those and you haven't already, please click the link in the description below. Otherwise, we look forward to providing you all the information that you need to know.
FirstTech Federal Budget Briefing Webinar
View our FirstTech Federal Budget Briefing Webinar held on 26 March 2025
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