With a focus on cost-of-living relief, healthcare, housing, education, and economic resilience, the Budget introduces several targeted grants and funding programs. Below is a summary of the most significant announcements across critical sectors, from clean energy and apprenticeships to support for First Nations businesses and aged care.
The Government will invest $3.2 billion over 19 years, beginning 2024–25 to strengthen Australia’s metals industry. This includes Clean Energy and Production Initiatives:
$2 billion over 19 years for Green Aluminium Production Credits – providing production-based grants to support Australian aluminium smelters transitioning to renewable electricity before 2036. Eligible smelters will receive funding over a 10-year period.
$1 billion over seven years to establish a Green Iron Investment Fund – offering capital grants to help producers establish or transition to low-emissions iron production facilities in Australia.
$2 billion to recapitalise the Clean Energy Finance Corporation, enabling further investments in renewable energy, energy efficiency, and low-emissions technologies.
The Government will provide $722.8 million over four years starting from 2025–26 to increase support for apprentices. Key initiatives include:
$626.9 million to reframe the New Energy Apprenticeships Program as the Key Apprenticeship Program, expanding support to critical residential construction occupations.
$77.8 million to extend the Australian Apprenticeship Incentive System by six months, from 1 July to 31 December 2025.
$11 million to increase the Disability Australian Apprentice Wage Support subsidy.
$7 million to boost the Living Away From Home Allowance.
The Government is investing in social enterprises, including contributing $1.2 million to jointly launch the Social Enterprise Loan Fund. This initiative aims to create secure jobs supported by wraparound services for vulnerable groups.
This investment builds on the first projects committed under the $100 million Commonwealth Outcomes Fund, reinforcing the Government’s focus on inclusive economic growth.
To promote economic empowerment and entrepreneurship within Indigenous communities, the Government will invest:
$23.9 million over five years from 2024–25 to strengthen the Indigenous Procurement Policy.
$3.4 million over three years from 2025–26 to establish a place-based business coaching and mentoring program, specifically supporting First Nations businesswomen and entrepreneurs.
These initiatives aim to provide Indigenous businesses with better access to procurement opportunities and tailored support for sustainable growth.
The Government will allocate $28.8 million over two years from 2024–25 to strengthen disaster preparedness and resilience. Key funding includes:
$17.7 million in 2025–26 for the Bushfire Community Recovery and Resilience Program, supporting bushfire resilience initiatives in rural and regional Australia.
$5.4 million in 2025–26 to assist the National Emergency Management Agency in engaging with states and territories to develop a national high-speed, high-capacity mobile broadband emergency response system.
$3.2 million in 2025–26 to extend targeted mental health support for emergency service workers through Fortem Australia and the Black Dog Institute.
$2.5 million over two years from 2024–25 for a one-off Business Continuity Payment of $10,000 to Child Care Subsidy (CCS)-approved services affected by Ex-Tropical Cyclone Alfred. Eligibility conditions apply, including a requirement for providers to temporarily waive CCS gap fees for families during closure periods.
Through the Department of Foreign Affairs and Trade, the Government will invest $20 million over four years from 2025–26 to enhance economic engagement with India. Funding includes:
$16 million to establish the Australia-India Trade and Investment Accelerator Fund, supporting cooperative projects aimed at reducing technical and regulatory barriers to trade.
$4 million to extend the Maitri Grants Program, fostering exchange and collaboration between Australian and Indian cultural, education, research, and business sectors.
This initiative will be partially funded through savings within the Foreign Affairs and Trade portfolio.
The Government will provide $30.1 million over five years from 2024–25 (and $7.8 million per year ongoing) to support Commonwealth Home Support Programme providers. This funding will uplift indexation in existing grant agreements to meet the increased award wages from the Fair Work Commission’s Stage 3 decision on the Aged Care Work Value Case.
From 1 July 2027, when the Commonwealth Home Support Programme transitions to Support at Home, this funding will continue under the new program. A portion of this measure will be funded from within the Department of Health and Aged Care’s existing resources.
The Government will invest $178.4 million over five years from 2024–25 (and $1.2 million per year ongoing) to strengthen social cohesion across Australia. Funding includes $44.8 million for projects under the Critical Support for Multicultural Communities Grant Program, such as $10 million in 2025–26 to assist independent multicultural media outlets in fast-tracking their transition to sustainable news media operations.
The Government will allocate $194.5 million over five years from 2024–25 (including $41.6 million in capital funding) to support the delivery of priorities within the Attorney-General’s portfolio. This includes $1 million in 2025–26 for grants supporting community-based projects aimed at preventing modern slavery.
While industry-agnostic tax measures—such as extending the Instant Asset Write-Off beyond 30 June 2025—appear minimal in this year’s Budget, leaving much of the business community disappointed, it remains important to monitor the rollout of grants and incentives from both previous allocations and this Budget. Programs such as the Industry Growth Program and the National Reconstruction Fund continue to present opportunities for business growth and innovation.
As with any Budget, the true impact of these funding announcements will depend on how effectively they are implemented. Ongoing attention to grant program guidelines, application processes, and funding outcomes will be critical to ensuring these allocations deliver meaningful support to businesses, industries, and communities in the years ahead.
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