ECONOMY
- Budget deficit of $35.1 billion for 2015/16
- Unemployment rate of 6.5 per cent for 2015/16
- Economic growth of 2.75 per cent for 2015/16
- Iron ore price assumed to be US$48 a tonne for next two years
Pensions
- $2.4 billion saved by increasing asset test threshold and taper rate for the pension.
- Dumping 2014-15 proposal to index pensions to consumer price index
- $128 million for not going ahead with last budget's measure that would freeze income eligibility thresholds for three years
Health
- Almost $2 billion in savings
- 400 million to be distributed from Medical Research Future Fund
- $1.6 billion to list new drugs
- More consumer choice in aged care
Tax Evasion
- The target will be 30 companies that book sales overseas in low-tax or no-tax nations
- The government will also give the Australian Tax Office an extra $11.3 million over four years to implement new transfer pricing documentation standards
- The ATO will get new info on large companies that give details on their tax affairs including a country-by-country report
- The government is also working with business to develop a new voluntary code that will give public disclosure of their tax affairs.
Families
- An extra $3.5 billion over five year for childcare
- Focus on lower and middle income families, as well as disadvantaged children
- Two year trial for nannies, at a cost of $246 million
Welfare
- Young unemployed no longer have to wait six months for dole
- Unemployed up to the age of 25 wait four weeks
- Changes to keep 22-25 year olds on lower Youth Allowance delayed
Small business
The tax measures for small business are the single biggest spending items in the budget.
- Tax break for purchases up to $20,000
- Tax cut of 1.5 per cent for small companies
- Tax discount of 5 per cent for small unincorporated businesses
- Removal of fringe benefits tax on mobile devices
Federal Budget 2015 news
The banana tax hidden in the budget
Dan Harrison They are the new taxes you probably haven't heard of. but you'll be paying them when you go to the supermarket.
Coal projects could apply for govt loans
Lisa Cox Coal projects in the Galilee Basin and on the door step of the Great Barrier Reef could receive government financing under a $5 billion loan scheme in the federal budget.
Spill plotters praise Abbott's second budget
James Massola Four Liberal MPs who publicly backed the February spill motion to replace Tony Abbott have hailed the Coalition's second budget, while dismissing the prospect of another challenge to the Prime Minister.
Academic media site hit by budget cut
Matthew Knott Academic website The Conversation will lose a quarter of its annual budget because of the federal government's decision to scrap its funding.
Greens blast northern Australia plan
Cameron Atfield The Greens have taken aim at the Commonwealth government's plan to develop Australia's north through concessional infrastructure loans, saying it could be used to subsidise billionaire miners in the region.
Ebbs and flows of government staffing
Markus Mannheim Which parts of the federal bureaucracy are likely to start hiring?
Economy
Rosy assumptions could lead to blowout
Matthew Knott and Gareth Hutchens The budget deficit will blow out by billions of dollars if the "rosy" predictions for economic growth in the budget papers are not realised, a leading economist warns.
Art gallery jumps on $20,000 tax write-off
James Massola, Nassim Khadem Treasurer Joe Hockey has found an unusual ally in his plan to boost the economy, with an exclusive Sydney art gallery urging customers to spend up big on art work for their offices.
Welfare
Young unemployed will still go hungry
Judith Ireland The community sector is far from sighing with relief over the Abbott government's plans to drop the waiting period for the dole from six months to one month.
'Have a go' becomes Abbott' new motto
Matthew Knott, Fergus Hunter Forget debt and deficit disaster or "lifters not leaners. "Have a go" is where it's at for this year's budget.
Ross Gittins answers your questions
Ross Gittins How will the budget affect you? What are the biggest hits and misses? The SMH's economics editor Ross Gittins will be answering reader questions on the federal budget 2015.
'Tony's tradies', but Abbott denies early poll
Latika Bourke  Prime Minister Tony Abbott has coined the phrase "Tony's tradies" to describe the big winners out of his second budget.
Millions to transport nuclear waste
Lisa Cox The Abbott government will spend nearly $27 million over four years to return radioactive waste that has been treated in the United Kingdom to Lucas Heights.
How do I claim this $20,000 tax break?
Nassim Khadem Cars, vans, kitchens and machinery – any item used for running the business – have become tax breaks overnight.
Indonesia downplays aid cuts
Jewel Topsfield The Indonesian government has downplayed a 40 per cent cut in aid from Australia, insisting it had nothing to do with the Bali nine executions and the republic no longer needed development assistance.
States vow to fight federal government
James Massola, Richard Willingham, Sean Nicholls Opposition leader Bill Shorten has lashed the "disastrous" $80 billion in cuts to schools and hospitals over a decade that were locked in by the Abbott government's second federal budget.
Will Abbott get budget through the Senate?
Adam Gartrell It's less ambitious and will no doubt prove more popular with voters. But will the Abbott government's second budget prove more successful in the Senate than the first one?
Pyne promised he'd fix it. Here's how he did it
Matthew Knott He promised he'd fix it. Now the surprise has been revealed.
Tech start-ups questions govt expertise
Rose Powell Australian tech start-ups have welcomed a suite of employment and tax tweaks in the federal budget, but warned the Australian government is still failing to understand high-growth technology companies.
Netflix tax not a magic elixir for local retailers
Jared Lynch Slapping GST on Netflix and other multinational technology giants is unlikely to create a level playing field, taxation experts have warned.
Mark Latham unloads on live television
Megan Levy A rampaging Mark Latham has delivered a post-budget verbal assault on live breakfast television.
Young and childless: what's in it for you?
Michael Koziol So you're young, childless, bitter and alone - what's in the budget for you?
Health groups kept in the dark on funding cuts
Amy Corderoy Health groups have been left scrambling after the federal budget revealed plans to cut nearly $2 billion from the health system, but gave little detail about which programs would be cut.
Credit rating
AAA rating safe, economists warn on growth
Rose Powell Australia's AAA rating is safe for now after a budget aimed to boost consumer and business confidence but economist and analysts are warning there is still considerable policy change required for growth.
Overview
Hockey steadies ship and sets sail for growth
Mark Kenny Nearly $10 billion for families and small businesses headlines Joe Hockey's "have-a-go budget".
At a glance
Budget 2015 winners and losers
Are you one of the winners or losers from this year's budget?
Budget impact
How is your hip pocket nerve?
Matt Wade Hardly a wallet was left untouched by Treasurer Joe Hockey's first budget. But this time most hip pockets will be left relatively unscathed.
Health
Nearly $2 billion in cuts to health system
Amy Corderoy, Dan Harrison The government will cut nearly $2 billion from the health system over the next four years.
Infrastructure
Northern Australia to get $5b in loans
Jacob Saulwick A $5 billion loan facility will be set up to promote infrastructure investment across northern Australia, one of the major new initiatives unveiled on Tuesday night.
Security
Foreign spies get big boost but defence idles
David Wroe Australia's foreign intelligence agency ASIS is set to get a massive funding boost of nearly $300 million.
Welfare
Dole wait backdown to cost $2 billion
Heath Aston, Judith Ireland The Abbott government has backed away from its punitive plan to make the young unemployed wait six months before accessing welfare.
Immigration
Detention centre to be wound back
Sarah Whyte The controversial detention centre on Christmas Island will wind back operations, as the Abbott government continues to tighten the net around Australia to stop asylum seeker boat arrivals.
Foreign
Foreign aid to Indonesia cut by nearly half
Sarah Whyte Aid to Indonesia has been cut by nearly half and assistance offered to Africa has plummeted by 70 per cent in historic cuts to foreign aid.
Victoria
Abbott demands $1.5b East West Link cash
Josh Gordon Tony Abbott is demanding Victoria hand back $1.5 billion of East West Link cash as a major saving to pad out his second budget, paving the way for a bitter federal-state showdown over infrastructure funding.
ANALYSIS
Watch out: this is a booby-trapped budget
Abbott suggests taxes are not on his agenda, yet he promises a return to surplus. That can only mean one thing: more cuts, a lot more cuts.
Shorten should bite the infrastructure bullet
Bill Shorten attacked every aspect of Joe Hockey's first budget in his budget reply speech a year ago, but he can't do that when he stands up again on Thursday evening.
'Glacial' wage growth puts budget forecasts in doubt
One day on, the budget forecasts are looking frayed.
Ten reasons to 'have a go' that Joe Hockey hasn't thought of
It's not just good for the national budget, small business life brings so many personal and financial benefits that aren't in the brochure.
Joe Hockey, the happy budget butterfly
What an extraordinary transformation. Last year's miserable doom-and-gloom caterpillar Treasurer emerged from his budget cacoon last night as a beautiful butterfly.
Hockey gets it right after horror first budget
Joe Hockey had promised his second budget would be the right one for the times.
A budget that will restore political fortunes but do little for recovery
This is the budget of a badly rattled government that has put self-preservation ahead of economic responsibility.
Ambition sacrificed as Abbott's battlers take centre stage
The Prime Minister is proposing to spend an extra $10 billion on an act of political engineering: creating the Abbott battlers.
VIDEO
Budget 2015: What's in it for me?
Callum Denness takes a look at what's in the budget, where the money is being spent and where the cuts are coming from.
Hockey's budget rap
Need to wrap your head around the government's 2015 budget? We break it down for you in 45 seconds.
Hockey dismisses talk of early election
Treasurer Joe Hockey says he's got unfinished business for the nation, and doesn't want to give up government easily.
Budget 'remarkably good': Howard
Former Prime Minister John Howard tells a Brisbane budget breakfast that small business will see "increased expenditure" as a result of the budget.
Budget 2015: cuts to foreign aid 'tragic'
Foreign aid saves lives, argues Greens senator Scott Ludlam as he criticises Hockey's "directionless" budget.
Budget 2015: Business overview
Senior business writer Adele Ferguson outlines how the budget will affect business in Australia.
Budget like 'chalk and cheese' from last year
Senator Nick Xenophon says Treasurer Joe Hockey's second budget is like 'chalk and cheese' compared to last year's and could give wriggle room to call an early election.
Labor won't support family benefit cuts
What budget measures will Labor support? Shadow Assistant Treasurer Andrew Leigh joins Chris Hammer to discuss the government's second budget.
Budget 2015: Economic overview
SMH Economics writer Ross Gittins gives his verdict on the budget and he is not impressed.
Budget 2015: Hockey fronts the media
Treasurer Joe Hockey says he wants people to spend as he hands down a budget that has a "credible trajectory back to surplus".
Budget 2015: Hockey delivers second budget
Treasurer cracks down on multinational tax avoiders, revamps the pension scheme and announces nearly $10 billion for families and small businesses.
2015 Budget: Political overview
SMH Political editor Peter Hartcher outlines how the budget will shape the political landscape in the weeks and months ahead.
Schoolgirl grabs selfie with Hockey
Joe Hockey's grilling from the media is briefly interrupted by a selfie request from excited student Anika Buining outside Parliament House in Canberra on budget day.
Budget fairness balance
Labor MP Terri Butler and Nationals Senator John 'Wacka' Williams join Chris Hammer to discuss the government's second budget.
Budget 2015: What the crossbenchers are saying
Jacqui Lambie says Tony Abbott's heart is in the right place on childcare but wants more consultation, David Leyonhjelm likens the budget to a gorilla and Scott Ludlam rubbishes the so called Netflix tax.
Budget 2015: Understanding your super
Is superannuation now a lifter or a leaner? Quentin Dempster and Rocco Fazzari explore whether encouraging people to build their own nest eggs is good for the government's budget.
Negative gearing: from lifter to leaner
At his last budget Joe Hockey said that as a nation of lifters, everyone should contribute. But negative gearing has turned private property into leaners, explains Quentin Dempster.
Is the pension cat out of the budget bag?
The government is likely to abandon changes to pension indexation in the budget, says Liberal backbencher Andrew Laming.
Hockey's horror numbers
The budget deficit continues to deteriorate and parliament must rise to the challenge says Deloitte Access Economics' Chris Richardson.
Hockey's budget challenge
The government will attempt to be tough, fair and family friendly in this month's budget, but can Joe Hockey deliver? Analysis with Mark Kenny.
The retreating surplus
'We're wasting money', says Nationals Senator John 'Wacka' Williams; 'we have an incoherent approach to economic management', responds Labor's Andrew Giles.
