The landmark 2021 federal budget is all about business productivity and jobs to drive the post-pandemic economic recovery.

In terms of the headline numbers, federal treasurer Josh Frydenberg announced a budget deficit of $106.6 billion for 2021-22, which was little changed from the $108.5 billion deficit the federal government forecast at the December 2020 mid-year economic and fiscal outlook.

A huge emphasis on infrastructure spending is set to buoy property development while funds allocated to the aged sector are likely to spearhead investment in aged care homes.