Get all your news in one place.
100's of premium titles.
One app.
Start reading
ABC News
ABC News
Business
political reporter Jake Evans

Federal budget tax windfall mostly pocketed to wipe out deficit, Treasurer says

Treasurer Jim Chalmers says most of the upward revision to the budget will be banked. (ABC News: Ian Cutmore)

The federal treasurer has banked a boon to the government's coffers from higher commodity prices and more people paying tax, as the government readies to unveil what could be the first surplus budget in 15 years.

Treasurer Jim Chalmers said upward revisions to the budget have been saved to close the hole in the budget.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.