what is the definition of commonwealth money?

Commonwealth money refers to money collected and spent by the Australian (Commonwealth) Government. The Budget is the government’s annual statement of how it plans to collect and spend this money.

The steps of the Australian federal budget, from preparation by the Treasurer to examination by Senate estimates committees.

Federal Budget process.

Parliamentary Education Office (peo.gov.au)

Federal Budget process.

The steps of the Australian federal budget, from preparation by the Treasurer to examination by Senate estimates committees.

Parliamentary Education Office (peo.gov.au)

Description

This diagram illustrates the development and operation of the Budget. Budget documents are prepared by the Treasurer and introduced through a speech to the House of Representatives. Members of parliament examine the Budget bills. The Senate examines the use of the Budget throughout the year in Senate estimates committees.