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.
Federal Budget process.
Parliamentary Education Office (peo.gov.au)
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.
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