BUDGET NIGHT · TUESDAY 12 MAY 2026 · 7:30PM AEST
2026-27 Federal Budget
What every confirmed and likely change means for your household — in real dollars. Updated on Budget night within hours of the Treasurer's speech. Official papers at budget.gov.au.
--
Days
:
--
Hours
:
--
Minutes
We'll update every calculator within hours of the speech. See what we know so far →
Budget Calculators
Tax Changes
The rate on $18,201–$45,000 drops from 16% to 15%. Save $268/year.
Calculate your saving →HECS Changes
20% HELP debt reduction already legislated. New threshold $67,000.
See your HECS impact →Property & CGT
CGT discount changes widely discussed. Model different scenarios.
Model scenarios →Full Impact
See your total position across tax, HECS, super and property.
Full impact calculator →How the Budget Affects Each Household
Pre-built profiles based on ABS median income, ASFA super balance, and PropTrack rent data. Tap any profile to run the full calculation.
Sarah
Single Renter, 31, $75K income
$268/yr better off (tax cut) + HECS savings
- Income tax cut: $268/yr
- HECS debt reduced 20%
- Higher repayment threshold saves ~$800/yr
James & Mei
Couple, no kids, $180K combined
$536/yr better off + HECS (James)
- Both earn above $45K: 2 × $268 = $536/yr
- James's HECS reduced 20%
- No Div 296 impact at this level
Ben & Laura
Couple + toddler, $140K combined
$536/yr better off
- Both earn above $45K: 2 × $268 = $536/yr
- Family tax benefit unchanged
- Childcare subsidy rates TBC Budget night
Michael & Anita
Family + mortgage, $180K combined
Tax cut +$536, but RBA hikes cost $2,880
- Tax saving: $536/yr
- Assumed 3 RBA hikes: −$2,880/yr on $600K mortgage
- Net position: −$2,344/yr
Karen
Single parent, $60K income
$268/yr better off from tax cut
- Tax cut: 1% × ($45K − $18,200) = 1% × $26,800 = $268/yr
- Single parent supplement unchanged
- Energy rebate TBC Budget night
Margaret
Retired, 70, $500K super
Largely unchanged — Div 296 doesn't apply
- Super balance well below $3M Div 296 threshold
- Tax-free pension phase unaffected
- Age Pension rates TBC Budget night
What We Know So Far
Confirmed changes already legislated and measures expected to be announced on Budget night, 12 May 2026.
| Measure | 2025–26 | 2026–27 | Status |
|---|---|---|---|
| Tax rate $18,201–$45,000 | 16% | 15% | ✓ Legislated |
| HECS debt | Full balance | Already reduced 20% (June 2025) | ✓ Applied |
| HECS threshold | $54,435 | $67,000 | ✓ Legislated |
| HECS calculation | % of total income | % above threshold | ✓ Legislated |
| Super >$3M earnings | 15% | 30% | ✓ Legislated (Div 296) |
| CGT discount | 50% | TBC | ⏳ Budget night |
| Negative gearing | Unrestricted | TBC | ⏳ Budget night |
| Energy rebate | Expired Dec 2025 | TBC | ⏳ Budget night |
Frequently Asked Questions
When is the 2026-27 Federal Budget?
The 2026-27 Federal Budget will be delivered by Treasurer Jim Chalmers on Tuesday 12 May 2026 at 7:30pm AEST. All calculators on this page will be updated within hours of the speech.
What tax changes are confirmed for 2026-27?
One change is already legislated: the tax rate on income between $18,201 and $45,000 drops from 16% to 15% from 1 July 2026. This saves every taxpayer earning above $45,000 exactly $268 per year. If you earn between $18,201 and $45,000, your saving is 1% of income above $18,200.
What is the HECS debt reduction?
The Government has already legislated a 20% reduction in all HELP (HECS) debt balances. If you owed $40,000, your balance is now $32,000. The repayment threshold has also been raised to $67,000 and repayments are now calculated on income above the threshold, not total income. This means many Australians earning below $67,000 will make no repayments in 2026-27.
Will CGT or negative gearing change in the 2026-27 Budget?
Changes to the CGT discount and negative gearing rules have been widely discussed but not confirmed. We will update all calculators within hours of the Budget speech on 12 May 2026. Use the Property & CGT calculator above to model different scenarios before Budget night.
Disclaimer: These calculators provide estimates only based on publicly available information and announced policy positions. Figures marked 'TBC' will be updated from official Budget papers on 12 May 2026. Not financial advice.
Sources: Australian Taxation Office, Department of Education (HECS-HELP rates), Treasury Budget papers available at budget.gov.au.
Sources: Australian Taxation Office, Department of Education (HECS-HELP rates), Treasury Budget papers available at budget.gov.au.