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Australian Federal Budget
An Australian federal budget is a document that sets out the estimated revenues and expenditures of the Australian Treasury in the following financial year, proposed conduct of Australian government operations in that period, and its fiscal policy for the forward years. Budgets are called by the year in which they are presented to Parliament and relate to a financial year that commences on the following 1 July and ends on 30 June of the following year, so that the budget brought down in May relates to the / financial year (1 July – 30 June , FY). Revenue estimates detailed in the budget are raised through the Australian taxation system, with government spending (including transfers to the states) representing a sizeable proportion of the overall economy. Besides presenting the government's expected revenues and expenditures, the federal budget is also a political statement of the government's intentions and priorities, and has profound m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Treasury
The Treasury, fully Department of the Treasury, is the Australian Government ministerial department responsible for economic policy, fiscal policy, market regulation, and the Australian federal budget. The Treasury is one of only two government departments that have existed continuously since Federation in 1901, the other being the Attorney-General's Department. The most senior public servant in the Treasury is the department secretary, currently Steven Kennedy who was appointed in September 2019. Ministerial responsibility for the department lies with the Treasurer, currently Jim Chalmers who took office in the Albanese government in May 2022. History The Australian Treasury was established in Melbourne in January 1901, after the federation of the six Australian colonies. In 1910, the federal government passed the ''Australian Notes Act 1910'' which gave control over the issue of Australian bank notes to The Treasury and prohibited the circulation of state notes and withd ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
