After Mr Morrison`s re-election, he shifted his focus to economic matters. (SBS pictures)
The tax cuts promised by Prime Minister Morrison (Scott Morrison) will be implemented in fiscal year 2019.
Australian Inland Revenue Department (ATO) said that if the Labour Party agrees, the Bureau will be able to implement the relevant commitments.
According to the Australian newspaper and the Australian news agency, on May 21, there was media speculation that the tax cuts would not be implemented in the new fiscal year because Morrison had said that the parliament was unlikely to resume before June 30.
However, Morrison`s speaker said: "tax breaks will be implemented in fiscal year 2019, 2020, as the media speculated today (May 21), and parliament will have to be postponed for a year if it does not sit in June."
On the morning of the 21st, the Inland Revenue Department speaker also said that if the necessary law amendments can be passed after June, track back can manage tax relief; If Labour agrees to reforms before the parliament resumes, the Inland Revenue Department will be able to implement tax breaks immediately.
"with regard to media comments, we would like to clarify that while we do need law revisions to the announced tax breaks, we can also do something administrative," speaker said. For example, if the Labour Party agrees to support the tax cuts announced by the Unionparty, then we can update the tax withholding arrangements to reflect the tax cuts in the people`s real salary. However, we will not be able to release an assessment based on the tax cuts until the formal legislation. "
On May 21 th, (RBA) Governor of the Reserve Bank of Australia, Lowe (Philip Lowe), delivered an important speech on Australia`s prospects.
Morrison and fiscal minister Fredenberg (Josh Frydenberg) also met to discuss economic and tax cuts. It was the first time the two men had met since the Unionparty victory. Fredenberg also held a meeting with Treasury officials in Canberra to discuss Unionparty`s budget arrangements.
The counting of votes in the general election has not yet been completed, and the victory or defeat of the existing three electoral districts is difficult to divide. If you need to finish counting all the votes, parliament will be postponed to resume the meeting. In addition, the key independent senator has yet to say whether it supports the tax cuts.
In this general election, the Green Party occupies six seats in the Senate. Green Party leader Dinatale (Richard Di Natale) said the Green Party will not support income tax relief measures. (Zhai Longwei)
