Federal Budget 2024-2025

The 2024-2025 Federal Budget was, in some respects, very similar to the 2023-2024 Budget, particularly in the focus on spending measures aimed at reducing cost of living pressures. We outline the key tax-related items covered in this year’s Budget.

There is a lot in this year’s Budget for health, aged care and disability providers. We outline what’s been allocated for Medicare, hospitals, mental health services, diagnostic imaging, aged care, disability services, and life sciences, and provide some commentary on the initiatives.

There was $6.2 billion in new commitments to social and affordable housing in last night’s Budget announcements. This is good news for our important community housing provider client base and for superannuation and impact investment funds exploring investment in this sector. We outline the Government’s commitments.

Energy transition and renewable energy were central in the Federal Budget, with funding and initiatives announced across these areas. We outline several important renewable energy and ESG focused initiatives that will help support Australia’s target of 82% renewable generation in the energy grid by 2030 and securing Australia’s place in a changing global environment.

Federal Budget 2024-2025: what it means for you

Our internationally recognised Tax team hosted a webinar unpacking the tax, business and legal implications of the 2024-25 Federal Budget.

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