Federal Budget 2026: What Moreton Bay can expect tomorrow

Households and businesses across Moreton Bay are being given a taste of what will be served up in Tuesday’s Federal Budget.

Treasurer Jim Chalmers has described the budget as both “ambitious” and “very responsible”.

Major cuts will reportedly be made to the National Disability Insurance Scheme (NDIS), but $3 billion invested in “more beds, packages and better care” for older Australians.

Predicted but unconfirmed is a one-off payment of $200-$300 to all Australian wage earners. 

National Disability Insurance Scheme (NDIS) Cuts

Changes to the NDIS have been announced with around 160,000 people expected to be cut from the scheme in the next four years.

The government says it is “returning the NDIS to its original intent” by “fighting fraud and stopping rorts; slowing rapid cost increases, clearer eligibility and delivering quality services and support to participants”.

This will be done by changing the eligibility criteria and is expected to save billions of dollars. However, registration will become mandatory for all NDIS service providers.

Aged care

Health Minister Mark Butler says there will be 5000 new residential aged care beds a year, new targeted capital subsidies for residential aged care, providing additional funding for supported residents for newly built or refurbished homes. 

More than $200 million will be for 20 additional Specialist Dementia Care Program units and an expansion of the Hospital to Aged Care Dementia Support Program. 

Hospitals and Medicare Urgent Care Clinics 

There are also reports of $25 billion for new hospitals over five years and $1.8 billion in the same period (with $525.6m from 2030-31) to make the walk-in bulk-billed Medicare Urgent Care Clinics permanent.

Age-based loading for the private health insurance rebate will also be removed in next week’s Budget which will see a rise in costs for millions of people over the age of 65.

Canstar reports “older Australians could pay up to $410 more a year for top health cover under proposed cuts to the private health insurance rebate”.

Tax reforms

National media is expecting the first reforms to the country’s capital gains tax in 27 years with the 50 per cent CGT discount to be reduced or replaced.

There are also reports recipients of small and family business trusts may face new taxes with a new 30 per cent baseline tax rate tipped to be announced.

Reports also suggest a permanent instant asset write-off extension, allowing small businesses to continue claiming a tax deduction for eligible purchases of $20,000 or less.

Professional accounting body CPA Australia is also calling for the government to “reduce regulations, improve public finances and support SMEs (Small and Medium Enterprises) and NFPs (not-for-profit)”.

Negative gearing concessions are tipped to be cut, questions remain over whether fuel excise, halved two months ago will be extended but the electric vehicle tax break will be reduced to encourage discounts from dealers.

A $1000 ‘instant’ tax deduction for work-related expenses is predicted in Tuesday’s budget, rising from the current $300 for deductions from assessable income without receipts.

If passed into law, the measure will lift the value of eligible expenses taxpayers can deduct from their assessable income, without providing receipts, from its current level of $300.

Defence

Defence spending is expected to be announced at $53 billion over the next 10 years, mirroring moves from countries around the world.