March 2025 Federal Budget Update
No matter where you’re at right now, being across the latest budget changes is a smart move—and could even help you save a few bucks.To make it easy, watch the video below; it covers all the important insights for this years budget. We’ve also pulled together some key highlights and summary documents so you can see find what’s relevant to you and make the most of what’s on offer.
Have a scroll through, and if anything’s unclear or you want to chat it through, just click here to reach out.
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May 2025 Federal Budget Update – Summary and Highlights
The 2025 Federal Budget Update focuses on easing cost-of-living pressures, improving access to essential services, and supporting working families and young Australians. Key beneficiaries include low to middle-income earners, students, families with children in childcare, and small businesses.
SUMMARY OF KEY PROPOSALS
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Personal income tax cuts: Tax rate on $18,201–$45,000 income to drop to 15% in 2026 and 14% in 2027.
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Energy bill relief: $150 in rebates for households and small businesses, starting 1 July 2025.
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PBS medicine cap: Prescription costs under PBS will be capped at $25 from 1 January 2026.
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Bulk billing boost: Medicare bulk billing incentives expanded to all eligible patients from 1 November 2025.
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Student loan help: 20% one-off loan reduction and new repayment thresholds from 1 July 2025.
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Childcare access: 3-day (72 hours) minimum subsidised childcare guarantee from 1 January 2026.
Note: These measures are currently proposals and are subject to legislative approval.
Watch – Outline of Key Announcements
More information
Knowledge Centre
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