Green’s Dictionary of Slang

1. the stomach.

1922		Truth (Brisbane) 21 May 8/5: As Wally was walloping away at the smothered head of the Greek gladiator, one of the back-scaters bawled, ‘Not there, you fool; ’it ’im in the comic cuts’ - wherever that may be.
1927		Brisbane Courier 20 Aug. 23/7: Remember Billo? Just before he snuffed it - he got it straight in the comic cuts - he tried to sing, ‘Pack, all yer troubles in yer ole kit-bag’ - strike me pink, if anyone'd call them blokes ‘glorious’ they would have sworn at ’em - not ’arf!'.
1933		Nowra Leader (NSW) 28 Apr. 1/3: These darned old wounds keep me from hopping around as frisky as I used to, and then the old comic cuts plays queer pranks. Could eat anything once.
1950		S.J. Baker in Sun. Herald (Sydney) 8 June 9/5: Detective Doyle has about a dozen rhyming slang words in his list. For example: ‘comic cuts,’ guts.
1953		T.A.G. Hungerford Riverslake 195: ‘Struth, I’m crook.’ Mancin rubbed his stomach, tenderly. ‘In the comics – something I ate, yesterday.’.
1967		‘Whisper All Aussie Dict.’ in Kings Cross Whisper (Sydney) xxxiii 4/4: comic cuts: Guts.
1971		F.J. Hardy Outcasts of Foolgarah (1975) 82: Do you get a burning pain that starts in your comic cuts and rises to your throat?
1983		R. Aven-Bray Ridgey-Didge Oz Jack Lang 7: ‘What is the ask?’ he said as he lamped her pointed brace and bits poking out from the skimpy dicky dirt showing her bare comic cuts.
2002		Pete’s Aussie Sl. Home Page 🌐 comic cuts: the guts.

2. in two-up, the ‘guts’, i.e. the centre of the betting circle into which the money bet is tossed.

1948		Pittsworth Sentinel (Qld) 13 Feb. 2/3: The Judge revealed that his knowledge of the game had been obtained as a member of the 1st A.I.F. in France. However, [...] [h]e had to ask the Crown Prosecutor (Mr. Flood-Nagle) to interpret the meaning of ‘A pound wanted in the comic cuts.’ Mr. Nagle explained that it meant the ring keeper wanted another pound bet, before he would allow the spinner to spin.
1951		(con. 1941) E. Lambert Twenty Thousand Thieves 154: Gentlemen, I require two fiddleys in the old comic cuts.

3. the truth.

1999

G. Seal Lingo 91: comic cuts for guts means the truth, the guts of something and may be rendered just as comics.