Australia’s Final Budget: $971 Billion In Debt. Who Pays?

Welcome back to The Account Rant. In this episode, John Saade sits down with Catarina Santini to unpack Australia’s latest budget outcome, government debt, taxes and where the economy could be heading. The discussion starts with the final 2025–26 budget numbers and Australia’s government debt sitting close to $1 trillion. John and Catarina ask whether a better than expected budget result should actually be celebrated when households are still under pressure, interest rates are rising and Australians are paying more tax. They also discuss the sharp fall in tobacco excise revenue and whether pushing taxes too high can simply drive consumers toward illegal markets. The federal budget documents have previously noted significant downward revisions to tobacco excise receipts linked to weaker collections and illicit tobacco. Budget Archive This episode covers: Australia’s government debt The final budget outcome Where extra tax revenue came from Government spending Whether Australians are overtaxed Tax cuts for lower income earners Household income tax Tobacco excise The illegal cigarette market Government accountability Interest rates The RBA cash rate Mortgage pressure Property prices First home buyers Government property stimulus Intergenerational wealth Whether younger Australians are being left with the bill Australia’s economic outlook through 2030 John and Catarina also debate whether the government should prioritise balancing the budget or leave more money in the pockets of working Australians. And with the RBA lifting the cash rate to 4.60%, they discuss whether high rates, government spending and persistent inflation could keep pressure on households and property for years to come. Reserve Bank of Australia The episode ends with a bigger question: What kind of economy are we leaving the next generation? Need an accountant? GET A FREE CONSULTATION FOR ALL ABN HOLDERS https://forms.zohopublic.com/john205/form/GENERALENQUIRYFORM/formperma/VYEBrsCV\_ompEVvnkA0eygWlJxXO5OajFsjjngf\_jzw OUR SERVICES https://latitudeaccountants.com.au/accounting-services/ Info@latitudeaccountants.com.au TikTok https://www.tiktok.com/@latitudeaccountants Instagram https://www.instagram.com/latitudeaccountants/ YouTube https://www.youtube.com/@LatitudeAccountants LinkedIn https://www.linkedin.com/company/latitude-accountants/ Facebook https://www.facebook.com/latitudeaccountants/ Website https://latitudeaccountants.com.au/ This content is general information and commentary only and does not constitute financial, tax, investment or political advice. Speak with a qualified adviser about your own circumstances.