Federal Budgets

For earlier periods – see: National Budget Archive

In recent years the annual Federal Budget has usually been handed down on the second Tuesday in the month of May, at the commencement of the winter sessions of Federal Parliament.

The date is sometimes shifted in response to other events – as it was in 2020 and 2025.

Also once a year, is the mid-fiscal year review of the previous budget, usually in December after the release of updated national accounts figures.

The Mid-Year Economic and Fiscal Outlook (MYEFO) is an opportunity to make adjustments to the government’s budget with a fresh forecast, and sometimes contains significant new measures. It is usually published in December.

Infosheet 10 – The budget and financial legislation

This page was last modified 2026-02-17