Budget 2025
In just three years we have delivered cost of living relief while easing inflation.
More cost-of-living tax cuts
We delivered tax relief in 2024 and will deliver more in 2026 and 2027, returning over $2,000 a year to the average earner (about $79,000 a year) by 2027-2028. You can see detailed tax tables here.
More responsible cost-of-living help
A third year of energy bill rebates of up to $150 for households and eligible small businesses to be delivered from 1 July, 2025.
Making medicines even cheaper under the Pharmaceutical Benefits Scheme so that you will pay no more than $25 for medications.
Pensioners continue paying just $7.70 until 2030 for PBS medications.
A 25% cut to the number of scripts required before you qualify for the PBS Safety Net and the introduction of 60-day prescriptions.
More Medicare Urgent Care Clinics
A re-elected Albanese Labor Government will add another 50 Medicare Urgent Care Clinics – to the existing 87 - including at Burwood, Chatswood and St Peters/Marrickville.
All you need is your Medicare card – there are no additional payments. Once all clinics are opened, four in five Australians will live within a 20 minute drive of a Medicare Urgent Care Clinic.
More choice, lower costs and better health care for women
We’re delivering big savings for hundreds of thousands of women by:
- adding new oral contraceptives and new menopausal hormone therapies for endometriosis and IVF to the Pharmaceutical Benefits Scheme (PBS);
- adding more bulk billing for IUDs and birth control implants;
- making contraceptives and treatment for uncomplicated urinary tract infections available directly from pharmacies.
- Providing longer specialist consultations of 45 minutes or more for women suffering endometriosis and complex gynaecological conditions like chronic pelvic pain and polycystic ovary syndrome (PCOS)
- Funding 33 endometriosis and pelvic pain clinics which also support women experiencing menopause. Visit the federal Department of Health's website to find your nearest clinic.
Making it easier to buy and to rent a home
We’re investing $33 billion to build more social and affordable housing to build 1.2 million homes in the next five years.
More help to buy with expanded income caps (from $90,000 to $100,000) for individuals and (from $120,000 to $160,000) for joint applicants and single parents and higher price caps: up to $1.3 million in NSW capital city and regional centres and $800,000 in other areas of NSW. For more details visit the Treasurer's website.
Investing $49.3 million to supercharge prefabricated and modular home construction which can be built up to 50 per cent faster than traditionally constructed homes.
Banning foreign buyers from purchasing existing homes for two years from 1 April 2025 to take pressure off the housing market.
Building a better and fairer education system
To give the next generation the best start in life and the strongest foundation for success so we are:
- Cutting early education costs for around 1 million families
- Building universal early childhood education with a Three Day Guarantee of subsidised care.
- Delivering full and fair funding for public schools
- Cutting student debt further by 20% and lowering repayments
- Making 100,000 fee-free TAFE places permanently available every year
Helping small business
Supporting micro brewers and hospitality by freezing draught beer excise for two years beginning August 2025. From 1 July 2026, eligible wine, brewing and spirit manufacturers can reclaim up to $400,000 from the excise or Wine Equalisation Taxes.
Cheaper loans for rooftop solar, electric vehicles and EV chargers for doctors, dentists, vets and other health care providers. For more information visit the Energy Minister's website.
Boosting productivity & wages: We will make it easier for low and middle income earners to move to better paying jobs by banning non-compete clauses in their employment contracts.
Australia’s transition to a net-zero economy began with the Albanese Labor Government. In just three years we’ve approved enough renewable energy to power over 10 million homes – almost every household in Australia. Renewables now power 46% of the grid, backed up by gas, large scale storage and 400 community batteries, which we’ve been rolling out around the country.
We’ve already added 15GW of renewable energy to the grid – more than Peter Dutton’s $600 billion nuclear plan could hope to produce in 25 years.
