It is one of Melbourne's grand mansions - a sprawling century-old stately home that will be a new boarding school for Australia's aspiring ballerinas - and it has just been purchased with $1 million of taxpayer money granted under Joe Hockey's tough budget.

More than a few eyebrows were raised when young ballerinas emerged as rare winners on budget night, especially after the federal Treasurer declared, ''The age of entitlement is over.''

The $4.7 million mansion in Parkville that has been purchased with the help of $1 million of taxpayer money.

Tucked away in the budget papers was a $1 million grant for the Australian Ballet School, to help with its purchase of a new boarding residence. Armed with that taxpayer money, the school has spent more than $4.7 million on a mansion.