Treasury’s mission is to improve the wellbeing of the Australian people by providing sound and timely advice to the Government, based on objective and thorough analysis of options, and by assisting Treasury Ministers in the administration of their responsibilities and the implementation of Government decisions.

The Commonwealth Treasury began operations in Melbourne in January 1901, the smallest of the seven Commonwealth departments established with Federation. The original five members of the department were bookkeepers. Over time, the department was required to establish policy in areas such as public service pay and conditions, bank notes, the taxation system including land and income tax, pensions and other welfare payments, postage stamps and the collection of statistics. Today, the department focuses primarily on economic policy.   More detail...