WHAT DO WE KNOW?
WHAT WE KNOW
* There won't be a fistful of dollars as the government lives up to its promise of living within its means.
* Prudence, fairness and responsibility will be the catchwords.
* Measures will be included to boost jobs and growth as the economy transitions from the mining investment boom.
* The much-touted tax reform package will be included.
WHAT WON'T BE THERE
* Personal income tax cuts, despite concerns wage inflation is pushing middle-income earners into the second-highest tax bracket.
* Changes to tax breaks for property investors, aka as negative gearing.
* A rise in the rate of GST, or broadening its base.
WHAT WILL BE THERE
* Revenue measures, interpreted as tax hikes, but a reduction in the overall tax burden.
* Signs of modest improvement in the bottom line.
* Confirmation the budget repair levy on high-income earners will end on July 1, 2017.
HINTED AT
* Timetable for phased-in cut to the company tax rate of 30 per cent.
* Paring back superannuation tax concessions for high-income earners.
* Tobacco excise increase, mimicking Labor's proposal.
WHAT THE ECONOMY IS DOING
* Growing at its fastest pace in two years.
* Benign inflation outlook; unemployment rate remaining close to six per cent; wages growth at its slowest in almost two decades.
* Iron ore prices comfortably above $US50 ($A65) per tonne compared to $US39 assumed in the mid-year budget review.
