The Federal Treasurer, Dr Jim Chalmers, handed down the 2026–27 Federal Budget at 7:30pm (AEST) on 12 May 2026.
laiming to be a budget of resilience and reform, the Government advises it is helping Australians now and building Australia's future by:
- Responding to the global oil shock
- Taking pressure off Australians
- Making our economy more productive
- Delivering tax reform for workers, businesses and future generations; and
- Building a stronger and more sustainable budget
In particular, the Federal Budget Tax Brief highlights the Government’s proposed tax reform package which contains 3 key parts and claims it creates:
- a “better” tax system for workers, first home buyers and future generations
- a “better” tax system for businesses by encouraging investment and innovation, and
- a “simpler and more sustainable” tax system.
While the 2026-27 Federal Budget focused on broad tax and investment reforms, superannuation remained largely on the sidelines.
