The Australian Treasurer Morrison will announce the mid- year fiscal review on December 19 (Mid-year Economic and Fiscal Outlook, aka MYEFO)
I've posted in this and what the implications are last week: ANZ on Australia's credit rating 'in the spotlight as MYEFO approaches'
Treasurer Morrison is desperate to raise more tax revenue to stabilise government receipts, addressing the media this morning:
- Petroleum resource rent tax to be reviewed
- Review triggered by falling revenues
- Review is to ensure resource companies pay 'fair share' of tax
When you see $1 lying on the floor