Getting rid of the carbon tax will cost the federal budget $7.4 billion over the next four years.
But Treasurer Joe Hockey says the government remains committed to getting rid of the tax because it is a burden on business and driving up families' power bills.
The mid-year economic and fiscal outlook released by Mr Hockey on Tuesday put a $13.7 billion pricetag on the coalition's long-held position on getting rid of the carbon pricing scheme and its related measures.
But in net terms the cost to the budget will be $7.4 billion, after the business compensation, land initiatives, energy efficiency programs and the Clean Energy Finance Corporation are cut.
The government has committed to funding one round of income tax cuts and pension and benefit rises that were put in place as compensation for the carbon tax.
The repeal legislation is being blocked by Labor and the Australian Greens in the Senate, with the opposition arguing the government should instead move to an emissions trading scheme from July 2014.
Greens leader Christine Milne said the document showed the folly of abolishing a tax on polluters.
"Why would you stop the big companies paying that and instead switch the onus to the taxpayer?" she said.
Mr Hockey said getting rid of both the carbon and mining taxes would boost business investment, particularly in the resources sector.
Such investment was needed to boost economic growth, generate jobs, pay off debt and bring the budget back to surplus.
Spending on climate programs will drop from $5.5 billion in 2013/14 to $1.4 billion in 2014/15, when the government plans to roll out its Direct Action plan.
