Peter Whish-Wilson (Tasmania, Australian Greens) Share this | Hansard source

We do have one amendment to the schedule, which I foreshadowed in my speech on the second reading. I move Greens amendment (1) on sheet 8098 to the Treasury Laws Amendment (Combating Multinational Tax Avoidance) Bill 2017:

(1) Schedule 1, item 13, page 9 (line 26), omit "80%", substitute "90%".

I just want to briefly speak to this and ask Senator Cormann a couple of very quick questions. I understand that the current threshold of diverted tax that the ATO commissioner will use is 20 per cent of diverted tax. My question, Senator Cormann, is: why was 20 per cent chosen? I understand that the commissioner still has discretion, even at 20 per cent or above, as to whether they will pursue a tax ruling or an investigation, if you like. Could you please just briefly explain to me why 20 per cent was chosen?