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Federal Budget 2020: Where your taxpayer dollars are spent

By Tara Blancato • Head of Visual Content
Federal Budget 2020: Where your taxpayer dollars are spent
The deficit has hit $213.7 billion - but where is the money going?
The Federal Government has handed down the 2020-21 Budget, with a record deficit of $213.7 billion and income tax cuts among the headline announcements.
Here's a breakdown of where the money will be spent - and where revenue is coming from.

THE DEFICIT

SNAPSHOT

By 2024, Australia's net debt will be almost $1 trillion. (Nine)

TAX CUTS

More than 11 million Aussies are set to receive a tax break.
More than 11 million Aussies are set to receive a tax break. (Graphic: Tara Blancato)
Total tax savings by yearly earnings.
Total tax savings by yearly earnings. (Graphic: Tara Blancato)
Changes to the tax brackets under Stage 2 of the government's plan.
Changes to the tax brackets under Stage 2 of the government's plan. (Graphic: Tara Blancato)

TRANSPORT and INFRASTRUCTURE

Infrastructure funding is provided on a "use it or lose it" basis.
Infrastructure funding is provided on a "use it or lose it" basis. (Graphic: Tara Blancato)

JOBS and BUSINESSES

Businesses will be encouraged to hire young Australians aged between 16 and 35.
Businesses will be encouraged to hire young Australians aged between 16 and 35. (Graphic: Tara Blancato)
Asset write-offs and the ability to offset losses against previous profits will boost the bottom lines of Australian businesses.
Asset write-offs and the ability to offset losses against previous profits will boost the bottom lines of Australian businesses. (Graphic: Tara Blancato)
FULL COVERAGE: Federal Budget 2020
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