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Treasurer Jim Chalmers speaking while standing at a lectern as he delivers the 2026 federal budget.

Federal budget — what we know and how Australia is reacting

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Politics

Who are the winners and losers of the budget?

Small business owners, first home buyers, migrants and travellers are just some of the Australians impacted by the 2026-27 federal budget.

Winners include taxpayers, small businesses and older Australians, while travellers, foreign investors, trust recipients, property investors and the economy will face more difficult conditions.

Welcome to our live coverage following last night's federal budget

Good morning and welcome to SBS News' federal budget live blog.

Today, we'll be following along with all the reactions and washup after Treasurer Jim Chalmers handed down the Albanese government's fifth budget last night at Parliament House.

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Federal Budget 2026

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Jim Chalmers standing and speaking in the House of Representatives.

Australian News

'Brutal oppression': Australian government imposes new sanctions on Iranian officialsScrolling through his phone after his marriage ended, Tim realised he had no one to callWhat time is the 2026 federal budget? Here's everything we know so farPolice find body in search for alleged triple murderer Julian Ingram

World News

As his China trip begins, Trump insists he doesn't need Xi's help on IranTown 'at the end of the world' denies hantavirus origins as travellers warnedDonald Trump is set to land in China for historic talks — and he's bringing an old friendThe 48-hour deadline DFAT faces for Australians returning from hantavirus-hit cruise

Australian Politics

'Go for government': Western Sydney One Nation's next target after by-election winAlbanese vowed no changes to housing tax breaks. Now he's defending reformsCould One Nation's Farrer victory be the 'beginning of the end' for the Coalition?'Unfair, unacceptable': Jim Chalmers flags major tax changes in upcoming budget

Cost of Living

Australia's dying middle class — and the rise of an inherited wealth nationA $100 billion Australian sector is struggling. For Angela, it means 'working twice as hard'An inflation headache, a stronger Aussie dollar, and falling fuel prices — for nowAustralia's 'most liveable city' is also one of its most affordable — but will it last?

War in the Middle East

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U.S. Continues Maritime Blockade In Strait Of Hormuz

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Eurovision: Delta Goodrem joins competition favourites as the party begins in Vienna

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Vienna is living up to its reputation as the ‘City of Music’ this week as it readies to host the 2026 Eurovision Song Contest. Fans in their thousands have flocked to the Austrian capital to watch performers walk the turquoise carpet for the opening ceremony parade. Among the contenders is Australia's entrant, Delta Goodrem, who's hoping to eclipse them all. This year’s event is taking place amid growing controversy over Israel’s participation, with broadcasters from Spain, Ireland, the Netherlands, Iceland and Slovenia boycotting over the war in Gaza. SBS is a member of the European Broadcasting Union and will continue to broadcast Eurovision in Australia.

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Australian Treasurer Jim Chalmers speaks to the media during a press conference inside the 2026 Budget lockup at Parliament House in Canberra.
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Australian Prime Minister Anthony Albanese, Australian Treasurer Jim Chalmers and Australian Finance Minister Katy Gallagher walk through a courtyard during a pre budget picture opportunity at Parliament House in Canberra.
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Watch Insight on Tuesday 12 May at 8.30pm (AEDT) on SBS and SBS On Demand

The unrelenting pursuit of climbing the career ladder and achieving success has many questioning if the rat race is still worth running. Insight looks at why some of us prefer the rat race, why some are opting out, and asks: Is there a way to still run the race, without it running us?

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Adam Liaw goes inside Changi Prison. With rare access to the maximum-security wing reserved for those convicted of the most serious offences, Dateline investigates Singapore's tough stance on crime.

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