2006 Australian federal budget

The 2006 Australian federal budget for the Australian financial year ended 30 June 2007 was presented on 16 May 2006 by Peter Costello,[1] the Treasurer of Australia in the Howard Government.

 () 2006 Australian federal budget
Submitted16 May 2006
Submitted toParliament of Australia
Parliament41st
PartyLiberal/National Coalition
TreasurerPeter Costello
SurplusA$10.08 billion
Websitewww.budget.gov.au/2006-07/
‡Numbers in italics are projections.
‹ 2005
2007 ›

The budget provided for an underlying cash surplus of $10.8 billion, the Government's ninth surplus.[2] The net government debt was zero in the 2006/07-year, the first time in three decades, from a peak of 18.5% of GDP ($96 billion) in 1995/96.[3]

The budget included further personal tax reform including tax cuts worth $36.7 billion over four years. Major improvements to business taxation to encourage take‑up of new technology and to simplify taxes for small business. There was also a plan to dramatically simplify and streamline superannuation. Other key initiatives include $2.3 billion for road and rail infrastructure, including to upgrade key sections of the Hume, Bruce and Pacific highways more quickly, a $1.9 billion boost to funding for mental health services, and families, older Australians and carers were to receive more support.[2]

See also

References
  1. Treasurer Peter Costello Delivers 2006 Federal Budget
  2. http://www.budget.gov.au/2006-07/
  3. Budget 2006–07, Australian Government is now debt free Archived 4 October 2017 at the Wayback Machine
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