We have put together some of the details that could impact Aussies with the new budget in place.
From mid next year, anyone earning $45k or more will get up to $268 extra, which equates to roughly $5 more per week.
From 2027, this will increase up to $536 extra, or about $10 per week.
There will be $8.4 billion put towards making GP visits cheaper and $690 million for cheaper medicines.
The government is also pledging to reduce the price of medicines on the Pharmaceutical Benefits Scheme from $31.60, to no more than $25 per script.
Some other budget measures include foreign investors being banned from buying existing homes, a $200 million freeze on the draught beer excise, and a ban on non-compete clauses for workers earning up to $175k.
On the other hand, some criticisms from the release include a lack of a boost to welfare payments, no new measures to help struggling renters, and no indication of adding dental claims to medicare.
The budget itself has a deficit of $27.6 billion dollars.
