2010 Australian federal budget
The 2010 Australian federal budget for the Australian financial year ended 30 June 2011 was presented on 11 May 2010 by the Treasurer of Australia, Wayne Swan, the third federal budget presented by Swan, and the third budget of the first Rudd government.
| Submitted | 11 May 2010 |
|---|---|
| Submitted to | Parliament of Australia |
| Parliament | 42nd |
| Party | Australian Labor Party |
| Treasurer | Wayne Swan |
| Total revenue | A$321.8 billion |
| Total expenditures | A$354.6 billion |
| Deficit | A$40.8 billion |
| Debt | A$$93.7 billion |
| Website | http://www.budget.gov.au/2010-11/ 2010–11 Commonwealth Budget |
| ‡Numbers in italics are projections.
‹ 2009–10 2011–12 › | |
The budget forecast a return to surplus in 2012/13. Projections were based on a successful passing of the Resource Super Profits tax based on a 40% of mining company profits.
The budget featured changes to regulation regarding savings from 1 July 2011. Tax will only have to be paid on half of the total interest earned so as to encourage people to save. There were changes to the way millions of Australians do their tax returns by decreasing their reliance on tax agents. Sport in Australia is set to receive a funding boost described as the largest in Australian history. The budget was the first ever to be released under a Creative Commons license.