The budget confirmed that the discount on interest from savings will take effect from July 1. The measure was first announced in last year's budget, but implementation was delayed.Savers will receive a 50 per cent discount on up to $1000 of interest, including interest earned on deposits, bonds, debentures and annuities. The Government estimates that 5.7 million depositors will benefit from the discount. It will undertake consultation on implementation in the lead-up to the new financial year.