Bill Shorten (Maribyrnong, Australian Labor Party, Leader of the Opposition) Share this | Link to this | Hansard source

Why has the Prime Minister walked away from closing $1.1 billion of tax loopholes for multinational corporations?

Tony Abbott (Warringah, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

In fact, we have not. Curiously, the former government last year announced a crackdown on large foreign multinationals accessing R&D tax concessions. They announced that crackdown last year. They did not actually get around to legislating it. We are now getting around to legislating it. We are doing the work that they said they would do and did not. And do you know what?—they are opposing it. So if there is anyone who believes in foreign companies avoiding tax it is the Leader of the Opposition.