Every budget creates winners and losers, and Treasurer Jim Chalmers’ 2026–27 Federal Budget is no exception.
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While workers, motorists and public healthcare users emerge with clear benefits, property investors, discretionary trust users and fiscal conservatives may be less enthusiastic.
Here’s who came out ahead — and who took a hit.
Winners
Workers
- Working Australians Tax Offset worth up to $250 annually. Treasury says 97% of eligible workers will receive the full amount.
- a $1,000 instant tax deduction, expected to benefit 6.2 million workers, saving an average of $205.
- The 16% tax bracket will be cut to 15% from July 2026 and 14% from July 2027. Cutting tax for all taxpayers saving up to $536.
- Higher Medicare levy low-income thresholds, helping 1 million workers.
First Home Buyers
- Changes to CGT discount and negative gearing is projected to help 75,000 homes change hands from investors to first home buyers.
- $2 billion Local Infrastructure Fund to unlock housing supply.
- Extension of the ban on foreign purchases of established homes until mid-2029.
Patients and Healthcare Users
- $25 billion in additional public hospital funding.
- $11.4 billion to expand bulk billing incentives.
- $1.8 billion to make Medicare Urgent Care Clinics permanent.
- $5.9 billion for new PBS medicines and cheaper prescriptions.
Older Australians
- $3.7 billion in aged care reforms.
- More residential aged care beds.
- Expanded Support at Home packages.
- Dementia care investment.
- Personal care affordability measures.
Small business
- Permanent $20,000 instant asset write-off.
- Venture capital and startup investment support.
- Productivity-focused deregulation and planning reform.
- SME’s allowed to offset losses again previous year’s profits.
Defence Industry
- $53 billion in additional defence investment over 10 years with $14 billion in the next 4.
- Submarine capability expansion
- Autonomous and uncrewed defence investment
- Naval shipbuilding expansion
- Major Henderson Defence Precinct investment in WA
Motorists
- Temporary 32 cent per litre fuel excise cut
- Elimination of the heavy vehicle road user charge
- Fuel market monitoring
- Broader fuel resilience measures including minimum of 50-day supply of diesel and Jet Fuel reserves in a $10.7Bn fuel security package. $3.2 billion on a government-owned fuel reserve, which will hold 1 billion litres reserves.
Losers
Property investors
- Future investors purchasing existing properties will lose access to current negative gearing treatment.
- CGT 50% discount expected to return to indexation from July 2027.
- New housing remains more favourable than existing stock with access to NG and CGT discount remaining.
Discretionary Trust Users
- New minimum tax rules for discretionary trusts.
- Reduced flexibility for tax planning structures.
- Likely impact on higher-income households and some business arrangements.
NDIS Participants and Advocates
- Government aims to reduce annual growth rate from about 10 per cent down to 5-6 per cent long term.
- Cost-saving measures include pushing more than 160,000 participants off the NDIS and onto state-run support programs by 2030.
- Government calls it sustainability. Critics may call it cuts.
Older Australians with PHI
- The government has scrapped an extra private health insurance subsidy for people aged over 65.
- Previously people aged 65-69 could claim 28% and people age 70+ 32%, now the rebate of 24% will apply to all Australians.
- 3+ million Australians will have to pay, on average, between $226 and $255 more a year.
Mixed
Gas Industry
- Gas companies have avoided the 25% export tax despite wide range of support and advocacy.
- The PRRT is expected to bring in slightly more revenue due to a combination of previous reforms and windfall from the Iran war.
- Gas companies will face more regulations from July 2027.
- New 20% domestic gas reservation policy that will force east-coast LNG exporters to sell 20% of their gas on the Australian market.