The Budget for 2006/07 was presented to Parliament by the Federal Treasurer on 9 May 2006. Highlights of the Budget, which unless otherwise indicated will apply from 1 July 2006, are summarized below.
General comments
The Treasurer announced a forecast budget surplus of AUD 10.8 billion for 2006/07 and delivered a budget that follows the tradition of several recent Australian budgets of emphasizing the structural reforms of Australia's taxation system. Along with far-reachin…