Business
Tax cuts to flow within weeks after ATO receives assurance of Labor’s support – Sydney Morning Herald
Tax officials have begun work to implement tax cuts this month, but it will take a further 6 to 8 weeks for the changes to flow into workers’ pay packets.
In a contrast with the long political fights over previous budgets, Labor leader Anthony Albanese and his shadow cabinet gave the priority measures their support in principle ahead of his budget reply speech on Thursday night.
Treasurer Josh Frydenberg defended the record budget spending despite criticism of a budget that will take Commonwealth gross debt to $1.7 trillion by 2031 after another decade of deficits.
“You cannot have a budget repair strategy without having a jobs recovery,” Mr Fry…
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