Education

The 2026–27 Budget forecasts tobacco excise receipts declining from $4.13 billion in 2025–26 to $2.14 billion by 2029–30, representing a fall of almost half over four years.

The Final Budget Outcome for 2025–26 shows the deficit was $6 billion smaller than the $28.3 billion forecast in the 2026–27 Budget. Lower-than-expected payments also contributed to the improvement.

The Passenger Movement Charge Amendment Bill 2026 was introduced in the House of Representatives on 12 August 2026. It has not yet become law and remains before the House. The proposed increase therefore cannot take effect unless the legislation completes the parliamentary process.

The proposal begins with the two lower income-tax thresholds from 2028–29 before extending indexation across all four thresholds from 2031–32. The Coalition has stated that the initial stage would cost about $22.5 billion over its first four years and that offsetting measures would be …

Fuel excise returned to its full indexed rate on 3 August 2026 after several months of temporary relief, while excise on packaged beer and spirits also increased through the regular indexation process.

The GST remains at 10%, and no bill, exposure draft or formal consultation process has been launched to change either the rate or the tax base.

That means the first income year under the new regime is already underway. However, the first notices of assessment are not expected until the later part of the 2027–28 income year, meaning many affected individuals may not receive their first Division 296 bill until …