10-year cost of tax package

Question

Senator BRAGG: What's the 10-year figure the Treasurer has been talking about on the ABC? We haven't seen any official documents; we've just seen ABC stuff. What's the 10-year cost? Dr Johnson: Just bear with me a second. I'll get that for you. I just don't want to get the wrong number. Senator Gallagher: Over the forward estimates, all that is returned through the working Australian tax offset-and you voted against that today, just to be clear. Senator BRAGG: No-one cares about your politics. I asked the good doctor a question about the budget. I don't care about the politics, thanks. Senator Gallagher: Context is important. You voted against income tax policy today. That's what you've done. CHAIR: Dr Johnson's got the answer. Dr Johnson: The 10-year cost of the package is on page 91 in box 3.2 of budget statement 3. It improves the underlying cash balance by $77.2 billion from 2025-26 to 2036-37. Senator BRAGG: Have you done an individual year-by-year? Dr Johnson: We present the individual estimates year by year over the forward estimates. They're in Budget Paper No. 2. I can get those for you. We also put them in Budget Paper No. 4-it's at the back of the statement. Senator BRAGG: Do you have it over 10 years? Dr Johnson: We publish over the forward estimates disaggregated- Senator Gallagher: Box 3.2 provides you, over the medium term, some of the changes. Senator BRAGG: I'm looking for the 10-year figure. Senator Gallagher: That is the medium term-10 years. That is standard. Dr Johnson: That's that $77.2 billion figure. Senator BRAGG: Do you have it over 10? Senator Gallagher: Senator Bragg, do a bit of work yourself. Box 3.2, page 91, Budget Paper No. 1. That gives you a sense of- Senator BRAGG: Page 91? I can't see costings here. Senator Gallagher: You can see, over the medium term, it's identified there, which is the normal way that Treasury would report these matters in the budget papers. We have a forward estimates figure, and you can see- Senator BRAGG: It doesn't have anything in here. Senator McDONALD: The Treasurer was talking about 10 years in his commentary. Senator BRAGG: I just want the 10-year figures on notice. It's not a trick question.

Answer

See attached response.

Documents

• Question with answer (PDF) (opens in a new tab)
• SQ26-000466 BET225 - 10-year cost of tax package.pdf (opens in a new tab)