ADVERTISEMENTBut the timing means he probably won’t be able to recall Parliament to pass the tax cuts before July 1 — the date he promised during the election campaign that the lower tax rate would take effect. The tax break was outlined in April in the government’s annual budget blueprint for the next fiscal year, which starts on July 1. “Let me be very clear: The tax relief outlined in the budget will be delivered to millions of Australians,” Frydenberg said. Researchers said the decline was in line with global Chinese investment trends. “It’s very clear that the Australian economy is facing some economic headwinds — economic headwinds globally as trade tensions rise between China and the United States,” Frydenberg said.

Source: Philippine Daily Inquirer May 21, 2019 11:03 UTC