Australian Treasurer Frydenberg: Tax cuts to come into effect in December
|The tax cuts announced in Australia’s annual budget will not come into effect until December this year, said the Treasurer Josh Frydenberg in a press briefing in Canberra on Wednesday.
Key quotes
“The stimulus would not be seen in the incomes of Australians until December.”
“The advice to us ... is that people will receive the money at the end of the year.”
On Tuesday, Frydenberg presented the annual budget for the fiscal year 2020-21 along with the economic forecasts, projecting a budget deficit of AUD213.78 billion.
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