Abstract: The common law recognition of native title in the High Court’s Mabo decision in 1992 and the Commonwealth Native Title Act have transformed the ways in which Indigenous peoples’ rights over land may be formally recognised and incorporated within Australian legal and property regimes. The process of implementation has raised a number of crucial issues of concern to native title claimants and other interested parties. This series of papers is designed to contribute to the information and discussion. Some of the issues in the valuation and compensation for loss of native title rights are reviewed in this paper. Insights into and procedural provisions provided through the use of a simple consumer model are achieved through the development and extension of the Indigenous budget beyond monetary or time constraints to include the budgetary effects of native title rights on the choices available.