Retrospective tax cuts could counteract fiscal cliff
Matthew CranstonUnited States correspondent
A retrospective tax cut that would see people's 2020 financial year tax returns adjusted, delivering fresh cash payments to them before July next year, would help the government manage a $73 billion fiscal tailing off.
Treasurer Josh Frydenberg has all but confirmed that personal income tax cuts scheduled to start on July 1, 2022, could be brought forward to boost take-home pay and consumer spending.
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