The Biggest Winners and Losers From Australia’s Budget

As Australians grapple with higher inflation and other flow-on effects from the war in Iran, the government unveiled its 2026-27 budget, seeking to tackle generational inequality, while shoring up the country’s fuel supplies and defenses. Here’s a breakdown of the winners and losers in Treasurer Jim Chalmers’ fiscal blueprint.

Workers are set to keep more of their income in their pockets from next year. Building on tax cuts in previous years, 13.3 million workers will get an annual tax offset of up to A$250 from July 2027, increasing the effective tax-free threshold by almost A$1,800 to A$19,985. Taxpayers will also be able to claim A$1,000 worth of work expenses without a receipt from next financial year.