Treasurer of Australia
Commonwealth Coat of Arms
Flag of Australia
Incumbent Jim Chalmers since 23 May 2022 (2022-05-23)
Department of the Treasury
Style	The Honourable
Member of	Cabinet Federal Executive Council National Security Committee
Seat	Canberra,ACT
Appointer	Governor-General on theadvice of the prime minister
Term length	At the Governor-General's pleasure
Formation	1 January 1901 (1901-01-01)
First holder	SirGeorge Turner
Website	ministers.treasury.gov.au/ministers/jim-chalmers-2022

TheTreasurerof Australia, also known as theFederalTreasurer or more simply theTreasurer, is theminister of state of theCommonwealth of Australia charged with overseeing government revenue collection, federal expenditure and economic policy as the head of theDepartment of the Treasury. The current treasurer isJim Chalmers, who was selected byPrime MinisterAnthony Albanese in May 2022 following the2022 Australian federal election.

The Treasurer implements ministerial powers through theDepartment of the Treasury and a range of other government agencies. According to constitutional convention, the Treasurer is always a member of theParliament of Australia with aseat in theHouse of Representatives. The office is generally seen as equivalent to theChancellor of the Exchequer in theUnited Kingdom or theSecretary of the Treasury in theUnited States or, in some other countries, thefinance minister. It is one of only four ministerial positions (along with prime minister,Minister for Defence andAttorney-General) that have existed sinceFederation.^[1]

The Treasurer is the minister in charge of government revenue and expenditure. The Treasurer overseeseconomic policy:fiscal policy is within the Treasurer's direct responsibility, whilemonetary policy is implemented by the politically independentReserve Bank of Australia, the head of which is appointed by the Treasurer. The Treasurer also overseesfinancial regulation. Each year in May, the Treasurer presents theFederal Budget to the Parliament.

ThePrime Minister and Treasurer are traditionally members of the House, but theconstitution does not have such a requirement.^[2] The tradition is due to the fact that under the constitution, appropriation bills have to originate from the House, and if the Treasurer is a senator, they would not be able to introduce the bills. This would also mean another minister would need to give the nationally televised budget speech and introduce the bills.^[3] While no Federal Treasurer has been a member of the Senate, New South Wales, Victoria, Tasmania and South Australia had state Treasurers who had served as members of the Legislative Councils, the states' upper houses.^[4]

Unlike the scenario in which a treasurer who is a senator cannot present the budget in the House of Representatives, state treasurers who have been members of upper houses have delivered their budgets in the respective lower houses.

The treasurer is a very senior government post, usually ranking second or third in Cabinet. Historically, many treasurers have previously, concurrently or subsequently served as prime minister ordeputy prime minister; two subsequently served asGovernor-General. Service as treasurer is seen as an important (though not essential) qualification for serving as prime minister: to date, six treasurers have gone on to be prime minister.

Paul Keating andWayne Swan are currently the only two to have been named "Euromoney Finance Minister of the Year" byEuromoney magazine.^[5]

Since 1958, Treasurers in Coalition governments have often but not always been the deputy leader of the Liberal Party. In contrast, only four Labor Treasurers have also been the deputy leader of the Labor Party.

Along with the Treasurer, other ministers have responsibility for the Department of the Treasury. The Treasurer together with these other ministers are known as the "Treasury Ministers". At present, the Treasury Minister positions are:^[6]

• Treasurer
• Assistant Treasurer
• Minister for Financial Services
• Minister for Small Business

The work of theDepartment of Finance is closely related to the work of the Department of the Treasury, with the former responsible for budget formation and operational management of government finances. The ministers who have responsibility for the Department of Finance are:^[7]

• Minister for Finance
• Special Minister of State

Eleven organizations nominally fall under the auspices of the Australian Treasurer. They entail the provision of policy advice to portfolio ministers; effective government spending and taxation arrangements; and well-functioning markets.

• TheDepartment of the Treasury creates policies and reports for four output groups. These groups are macroeconomic, fiscal, revenue and markets:
  • Macroeconomic reports include: domestic economic policy advice and forecasting and international economic policy advice and assessment.
  • Fiscal reports include: budget policy advice and coordination; Commonwealth-State financial policy advice; and industry, environment and social policy advice.
  • Revenue reports include: taxation and income support policy advice.
  • Markets reports include: foreign investment policy advice and administration; financial corporate governance policy advice; competition and consumer policy advice; and actuarial services. In addition, the Royal Australian Mint is responsible for producingAustralia's circulating currency.

• TheAustralian Bureau of Statistics is Australia's official statistical agency. Its reports are created for decision-making, research and discussion within governments and the community. It principally relates to the production of economic, population and social statistics.
• TheAustralian Office of Financial Management manages the Commonwealth's net debt portfolio. Its reports on debt management directed at ensuring that the Commonwealth net debt portfolio is managed, subject to the government's policies and risk references.
• The National Competition Council is an independent advisory body for all Australian governments involved in implementing the National Competition Policy. Outputs include: advice provided to governments on competition policy and infrastructure access issues and accessible public information on competition policy.
• TheProductivity Commission is an advisory body on microeconomics policy that contributes to public understanding.
• TheAustralian Taxation Office outputs are directed at systems that support and fund services for Australians and give effect to social and economic policy through the tax, superannuation, excise and other related systems. Outputs include: design and build administrative systems; management of revenue collection and transfers; compliance assurance; and regulation of superannuation funds compliance with retirement income standards. The Inspector-General of Taxation is an independent statutory office to review systemic tax administration issues and to report to the Government with recommendations for improving tax administration for the benefit of taxpayers.
• TheAustralian Competition and Consumer Commission is a regulation agency mandated forconsumer rights by industry regulation and price monitoring.
• TheAustralian Prudential Regulation Authority is the financial supervisor responsible for prudentially regulating the banking, other deposit-taking, insurance and superannuation industries.
• TheAustralian Securities and Investments Commission (ASIC) is the independent government body that enforces and administers the Corporations Law and Consumer Protection Law for investments, life and general insurance, and superannuation and banking (except lending). Outputs include: policy, enforcement and guidance about ASIC-administered laws; information on companies and corporate activity; and monitoring and licensing of participants.
• TheCorporations and Markets Advisory Committee (CAMAC) creates reports directed at participation of investors and consumers. It makes recommendations to the responsible Minister on the Corporations Law, and produces and publishes an annual report along with other discussion papers and reports.

The following individuals have been appointed as Treasurer of Australia:^[6]

Order	Treasurer	Portrait	Party		Prime Minister	Term start	Term end	Term in office
1	SirGeorge Turner			Protectionist	Barton	1 January 1901 (1901-01-01)	27 April 1904 (1904-04-27)	3 years, 117 days
					Deakin
2	Chris Watson1			Labour	Watson	27 April 1904 (1904-04-27)	17 August 1904 (1904-08-17)	112 days
(1)	Sir George Turner			Protectionist	Reid	17 August 1904 (1904-08-17)	4 July 1905 (1905-07-04)	321 days
3	SirJohn Forrest				Deakin	4 July 1905 (1905-07-04)	30 July 1907 (1907-07-30)	2 years, 26 days
4	SirWilliam Lyne					30 July 1907 (1907-07-30)	13 November 1908 (1908-11-13)	1 year, 106 days
5	Andrew Fisher1			Labour	Fisher	13 November 1908 (1908-11-13)	2 June 1909 (1909-06-02)	201 days
(3)	Sir John Forrest			Commonwealth Liberal	Deakin	2 June 1909 (1909-06-02)	29 April 1910 (1910-04-29)	331 days
(5)	Andrew Fisher1			Labour	Fisher	29 April 1910 (1910-04-29)	24 June 1913 (1913-06-24)	3 years, 56 days
(3)	Sir John Forrest			Commonwealth Liberal	Cook	24 June 1913 (1913-06-24)	17 September 1914 (1914-09-17)	1 year, 85 days
(5)	Andrew Fisher1			Labor	Fisher	17 September 1914 (1914-09-17)	27 October 1915 (1915-10-27)	1 year, 40 days
6	William Higgs				Hughes	27 October 1915 (1915-10-27)	14 November 1916 (1916-11-14)	1 year, 18 days
7	Alexander Poynton			National Labor		14 November 1916 (1916-11-14)	17 February 1917 (1917-02-17)	95 days
(3)	Sir John Forrest			Nationalist		17 February 1917 (1917-02-17)	27 March 1918 (1918-03-27)	1 year, 38 days
8	William Watt					27 March 1918 (1918-03-27)	28 July 1920 (1920-07-28)	2 years, 123 days
9	SirJoseph Cook					28 July 1920 (1920-07-28)	21 December 1921 (1921-12-21)	1 year, 146 days
10	Stanley Bruce					21 December 1921 (1921-12-21)	9 February 1923 (1923-02-09)	1 year, 50 days
11	Earle Page			Country	Bruce	9 February 1923 (1923-02-09)	22 October 1929 (1929-10-22)	6 years, 255 days
12	Ted Theodore			Labor	Scullin	22 October 1929 (1929-10-22)	9 July 1930 (1930-07-09)	260 days
13	James Scullin1					9 July 1930 (1930-07-09)	29 January 1931 (1931-01-29)	204 days
(12)	Ted Theodore					29 January 1931 (1931-01-29)	6 January 1932 (1932-01-06)	342 days
14	Joseph Lyons1			United Australia	Lyons	6 January 1932 (1932-01-06)	3 October 1935 (1935-10-03)	3 years, 270 days
15	Richard Casey					3 October 1935 (1935-10-03)	8 April 1939 (1939-04-08)	3 years, 187 days
					Page	7 April 1939 (1939-04-07)	26 April 1939 (1939-04-26)
16	Robert Menzies1				Menzies	26 April 1939 (1939-04-26)	14 March 1940 (1940-03-14)	323 days
17	Percy Spender					14 March 1940 (1940-03-14)	28 October 1940 (1940-10-28)	228 days
18	Arthur Fadden1			Country		28 October 1940 (1940-10-28)	30 August 1941 (1941-08-30)	344 days
					Fadden	29 August 1941 (1941-08-29)	7 October 1941 (1941-10-07)
19	Ben Chifley1			Labor	Curtin	7 October 1941 (1941-10-07)	6 July 1945 (1945-07-06)	8 years, 73 days
					Forde	6 July 1945 (1945-07-06)	13 July 1945 (1945-07-13)
					Chifley	13 July 1945 (1945-07-13)	19 December 1949 (1949-12-19)
(18)	Sir Arthur Fadden			Country	Menzies	19 December 1949 (1949-12-19)	10 December 1958 (1958-12-10)	8 years, 356 days
20	Harold Holt			Liberal		10 December 1958 (1958-12-10)	26 January 1966 (1966-01-26)	7 years, 47 days
21	William McMahon				Holt	26 January 1966 (1966-01-26)	18 December 1967 (1967-12-18)	3 years, 290 days
					McEwen	19 December 1967 (1967-12-19)	10 January 1968 (1968-01-10)
					Gorton	10 January 1968 (1968-01-10)	12 November 1969 (1969-11-12)
22	Les Bury					12 November 1969 (1969-11-12)	10 March 1971 (1971-03-10)	1 year, 130 days
					McMahon	10 March 1971 (1971-03-10)	22 March 1971 (1971-03-22)
23	Billy Snedden					22 March 1971 (1971-03-22)	5 December 1972 (1972-12-05)	1 year, 258 days
24	Gough Whitlam1			Labor	Whitlam	5 December 1972 (1972-12-05)	19 December 1972 (1972-12-19)	14 days
25	Frank Crean					19 December 1972 (1972-12-19)	11 December 1974 (1974-12-11)	1 year, 357 days
26	Jim Cairns					11 December 1974 (1974-12-11)	6 June 1975 (1975-06-06)	177 days
27	Bill Hayden					6 June 1975 (1975-06-06)	11 November 1975 (1975-11-11)	158 days
28	Phillip Lynch			Liberal	Fraser	11 November 1975 (1975-11-11)	19 November 1977 (1977-11-19)	2 years, 8 days
29	John Howard					19 November 1977 (1977-11-19)	11 March 1983 (1983-03-11)	5 years, 112 days
30	Paul Keating			Labor	Hawke	11 March 1983 (1983-03-11)	3 June 1991 (1991-06-03)	8 years, 84 days
31	Bob Hawke1					3 June 1991 (1991-06-03)	4 June 1991 (1991-06-04)	1 day
32	John Kerin					4 June 1991 (1991-06-04)	9 December 1991 (1991-12-09)	189 days
33	Ralph Willis					9 December 1991 (1991-12-09)	20 December 1991 (1991-12-20)	18 days
					Keating	20 December 1991 (1991-12-20)	27 December 1991 (1991-12-27)
34	John Dawkins					27 December 1991 (1991-12-27)	23 December 1993 (1993-12-23)	1 year, 361 days
(33)	Ralph Willis					23 December 1993 (1993-12-23)	11 March 1996 (1996-03-11)	2 years, 79 days
35	Peter Costello			Liberal	Howard	11 March 1996 (1996-03-11)	3 December 2007 (2007-12-03)	11 years, 267 days
36	Wayne Swan			Labor	Rudd	3 December 2007 (2007-12-03)	24 June 2010 (2010-06-24)	5 years, 206 days
					Gillard	24 June 2010 (2010-06-24)	27 June 2013 (2013-06-27)
37	Chris Bowen				Rudd	27 June 2013 (2013-06-27)	18 September 2013 (2013-09-18)	83 days
38	Joe Hockey			Liberal	Abbott	18 September 2013 (2013-09-18)	15 September 2015	2 years, 3 days
					Turnbull	15 September 2015 (2015-09-15)	21 September 2015
39	Scott Morrison					21 September 2015 (2015-09-21)	24 August 2018 (2018-08-24)	2 years, 337 days
40	Josh Frydenberg2				Morrison	24 August 2018 (2018-08-24)	23 May 2022 (2022-05-23)	3 years, 272 days
(39)	Scott Morrison12					6 May 2021 (2021-05-06)		1 year, 17 days
41	Jim Chalmers			Labor	Albanese	23 May 2022 (2022-05-23)	Incumbent	2 years, 322 days

¹ Treasurers Watson, Fisher, Scullin, Lyons, Fadden, Menzies, Chifley, Whitlam, Hawke and Morrison were alsoPrime Minister during some or all of their period as Treasurer.

² Morrison was appointed as Treasurer by the Governor-General on Morrison's advice in May 2021, with both Morrison and Frydenberg holding the position of Treasurer until May 2022. However, theappointment of Morrison was not made public until August 2022.

As of 10 April 2025, there are ten living former treasurers of Australia, the oldest beingRalph Willis (served 1991, 1993−1996, born 1938). The most recent treasurer to die wasBill Hayden (served 1975) on 21 October 2023. The most recently serving treasurer to die wasJohn Kerin (served 1991) on 29 March 2023.^[8]

• Assistant Treasurer of Australia
• Minister for Financial Services
• Minister for Consumer Affairs
• Assistant Minister to the Treasurer

Wikimedia Commons has media related toTreasurers of Australia.

• Official website

• Lists of government ministers of Australia
• Treasurers of Australia

• Articles with short description
• Short description matches Wikidata
• Use dmy dates from September 2022
• Use Australian English from September 2022
• All Wikipedia articles written in Australian English
• Commons category link is on Wikidata
• Official website not in Wikidata