The Treasurer has confirmed that the 2020-21 Federal Budget will be handed down on Tuesday, 6 October 2020.
As with the recent sittings of Parliament, Mr Frydenberg said Treasury has had to modify this year’s Budget arrangements at Parliament House to ensure they are compliant with the COVID-19 health restrictions. Nevertheless, the 2020-21 Budget documents will become available via https://budget.gov.au from 7.30 pm on Tuesday 6 October, when the Treasurer hands down his Budget Speech.
Given the extraordinary situation that has seen the Budget deferred from its usual time in May, the 2020-21 Budget will come at a critical time for the Government as it looks to set up the next phase of its COVID-19 economic response.
The Government has already allocated an unprecedented $314 billion in support since March 2020 to help cushion the blow and stabilise the economy. The 2020-21 Budget will need to provide the correct tax and economic settings to help businesses and individuals bounce back on the other side of the crisis.