The budget consists of hundreds of pages of facts and figures but visualising it as a $100 note helps in seeing how the government plans to spend your tax dollars.
The federal government is set to spend $833.2 billion in this year's budget, an increase of $47.5 billion, with pensions and social support programs contributing to over a third of the nation’s expenses.
Most of the spending will go to social security and welfare payments, which will receive 37.1 per cent of the total projected spending. This is almost identical to last year’s spend.
Social security payments are expected to grow to almost 40 per cent of all spending by 2030, driven by demand for disability support programs and aged care services.
Health is the next big area of spending for the government at 16.4 per cent, then education at 6.9 per cent and defence at 6.2 per cent.
The government has also forecasted a spend of 19.6 per cent for "other purposes" which include expenses incurred in servicing public debt and natural disaster relief.
The remainder of spending or "all other services" includes housing, transport and energy.
Almost half of projected revenue will come from individual and other withholding tax, followed by company tax and goods and services tax.
Taxes and fees on petrol products, tobacco, alcohol and visa applications will contribute about 5.8 per cent of revenue.
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