Australia has been leading the hunt for the plane which was carrying 239 people when it disappeared on March 8 en route from Kuala Lumpur to Beijing.
It is believed to have crashed into the southern Indian Ocean but despite a massive air and sea search, including underwater using a US navy submersible, no sign of any wreckage has yet been found.
"The government will provide up to Aus 89.9 million USD over two years from 2013-14 as part of Australia's commitment to the search for Malaysia Airlines flight MH370," the papers stated.
"Further funding of up to Aus 60 million USD over two years from 2013-14 will be provided to the Australian Transport Safety Bureau for Australia's contribution to the next phase of the search," the papers said.
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Australia has been coordinating the search for the plane, thought to have gone down in its search and rescue zone in consultation with China, from where two-thirds of the passengers came, and Malaysia.
While the aerial and sea surface searches have been scaled down, Australia is now working on the next phase which will involve using sophisticated equipment to scan the unmapped ocean bed some 4.5 kilometres (2.8 miles) below the surface.
Negotiations are underway to engage contractors to do this work which Abbott has previously said could cost Aus 60 million USD.