More than 10 million Australians face a tax hike of up to $1,500 after Tuesday night's Federal Budget as taxpayers get little in the way of direct help in battling the rising cost of living.
The Daily Mail Australia reports while Treasurer Jim Chalmers said Australia cannot afford to 'spray money around indiscriminately', there were real winners in Labor's first Federal Budget in almost a decade.
Parents of young children, TAFE and university students and anyone needing medication were chief among them, with homebuyers also seeing a glimmer of hope and seniors encouraged to downsize.
Meanwhile, motorists, low and middle income taxpayers and renters count among the losers - with the government refusing to reintroduce fuel excise relief, quietly axing a tax offset, and doing little to help tenants, the website said.
It comes as Australia faces a gloomy economic outlook, with the nation's debt to soar past $1 trillion in the next financial year, inflation ballooning, interest rates surging, power prices forecast to jump up to 56 per cent and a two year freeze in real wages.
The Daily Mail Australia presented a comprehensive guide to the winners and losers from the $650.9 billion 2022-23 Budget - which Dr Chalmers described as 'a responsible Budget that is right for the times'.
