I don't believe Labor will wait until after June 2012 to see if the tax cuts will turn her fortune. It will happen before that and probably before the May Budget. If it happens after the May Budget, it will be Swan's budget but Swan won't be there to sell it, Tony will have a field day on that one.
Rudd will need as much time and space as possible between his return and the 2013 election to turn the electoral mood.