The Department of the Treasury
is an Australian Government
department. Its role is to focus and develop economic policy.
The Commonwealth Treasury was established in Melbourne in January 1901.The department focused on developing taxation system, land and income tax and economic policies.
The department is divided into four groups, Fiscal, Macroeconomic, Revenue and Markets with support coming from the Corporate Services Division. These groups were established to meet four policy outcomes:
- Effective government spending and taxation arrangements
The Treasury provides advice on budget policy issues, trends in Commonwealth revenue and major fiscal and financial aggregates, major expenditure programmes, taxation policy, retirement income, Commonwealth-State financial policy and actuarial services.
- Sound macroeconomic environment
The Treasury monitors and assesses economic conditions and prospects, both in Australia and overseas, and provides advice on the formulation and implementation of effective macroeconomic policy.
The Treasury provides advice on policy processes and reforms that promote a secure financial system and sound corporate practices, remove impediments to competition in product and services markets and safeguard the public interest in matters such as consumer protection and foreign... Read More