Taxes on sugar, salt, saturated fats and sugary drinks, alongside new subsidies for fruit and vegetables, could save Australia's health budget $3.4 billion, a study has found.

University of Melbourne research found introducing a series of the controversial taxes would see an average change of about 10 per cent to the cost of some products high in unhealthy ingredients, but add an extra 2.1 years of healthy life for every 100 Australians.

New taxes on confectionery and ice cream would add 1.2 years to healthy life to every 100 people, based on 2010 populations, the Centre for Public Health Policy report said.

It estimated the costs of implementing the scheme at about $22 million, while recommending any changes be timed to coincide with future changes to the GST, to limit food and drink price changes.