Savings worth $2.4 billion are set to the pass the Senate after Labor announced its support for five major budget proposals from the Abbott government.
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They include increasing income tax charges on backpackers who work on their holidays, abolishing a bonus for large families, removing tax breaks for fly in and fly out workers and withdrawing family benefits from parent who refuse to vaccinate their children.
Labor frontbencher Chris Bowen revealed the opposition's support for the measures during the shadow treasurer's traditional budget reply to the National Press Club.
He also hinted the opposition would reinstate cuts to parental leave if they were to pass the Senate, which he strongly doubted.
Mr Bowen said Labor's constructive approach to opposition is in stark contrast to the Coalition's stance under Tony Abbott.
"Where a measure is sensible and doesn't offend the principle of fairness, we will facilitate its passage, even if the government hasn't gone about it in the way we would in office," Mr Bowen said.
Labor will also consider supporting the pension asset test, which would make it harder for wealthier seniors to access the pension. The savings are on top of the $7.2 billion Labor has already pledged in savings over the next 10 years by ending tax perks for wealthy superannuants.
Prime Minister Tony Abbott has said he will not cut superannuation tax breaks and warned Opposition Leader Bill Shorten is planning on "attacking people's savings".
"He regards your super as his piggy bank to break open whenever he needs money and I just think that's dead wrong," Mr Abbott said in Brisbane.
Mr Bowen said Labor would outline its economic vision through a "decade-long prism" instead of the usual four-year budget period and promised there would be more savings than new spending, saying the commitment would "guide" budget making.
"The commitment to more saving than spending over the decade is an important one for Labor. It will be an important one for us in office, as well as opposition," he said.
However Mr Bowen - who decried Treasurer Joe Hockey and Mr Abbott for returning the amount of tax being collected as a proportion of GDP to Howard-Costello levels, which he said was well above Labor's - refused to set his own target.
He said taxes collected should fund important government services and no more and was similarly non-committal when asked if he would reinstate hospitals funding.
However he explicitly ruled out a mining tax but said a carbon price would be part of Labor's election policy.
Government MP Ewen Jones immediately tweeted "Chris Bowen confirms new carbon tax".
