The 2004–05 Budget provides for an underlying cash surplus of $2.4 billion while delivering the $37 billion more help for families package.

More help for families

• This Budget includes the largest package of assistance for families ever, with an additional $19.2 billion over five years.
• More generous Family Tax Benefit arrangements will significantly help families with the costs of raising children.
• A new Maternity Payment and the expansion of outside school hours child care and family day care places will assist families balancing work and family commitments.

Cutting income tax

• Reductions in personal tax worth $14.7 billion over four years will improve work rewards from work and more than 80 per cent of taxpayers will face a marginal tax rate of 30 per cent or less.
  

boosting retirement savings

• $2.7 billion to enhance the superannuation co contribution scheme and reduce the superannuation surcharge, boost incentives to save for their retirement.