The budget at a glance
- Surplus of $1.5 billion
- Families to receive benefits of the mining tax with package worth $1.8b in tax breaks to Family Tax Benefit Part A recipients
- Modest tax cut for those earning up to $80,000
- Extra $80n a week for parents of schoolchildren aged 16-19 and extra $820 for secondary school students and $410 for primary school students
- Superannuation guarantee rate rises to 12 per cent
- Regional medical care boosted by 76 infrastructure projects at a cost of $475m
- Companies lose one per cent corporate tax cut
- Small business can offset tax losses of up to $1m against previous years
- $1b over four years for National Disability Scheme
- Dental care boosted by $515m to reduce waiting lists and relocate dentists to remote areas
- Public sector - job cuts of about 3000
- Defence Force - $5.4b in equipment procurement deferred
- Overseas aid funding increased by less than planned and deferred saves $2.9b
- Welfare payments increased by up to $210 a year for unemployment and similar benefits