Wayne Swan (Lilley, Australian Labor Party) Share this | Hansard source

The G20 Leaders' Summit will convene in my home town of Brisbane in fewer than four weeks. One of the critical issues on the agenda will be tackling tax base erosion and profit shifting. In our host year, it is incumbent upon Australia to lead the pack on this very important issue.

But nothing could be further from the truth. The reality is that the Abbott government is one of the best supporters multinational tax evaders could ever have. This can be seen in their decision to ditch Labor measures tackling transfer pricing and improving transparency, effectively handing $1.1 billion back to big global firms.

Joe Hockey has also made Australia a laggard on implementing the common reporting standard for financial accounting information by pushing back the start date to 2018. In contrast, other countries around the world are taking action. Just last week, as the member for Canberra said—

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