Nick Xenophon (SA, Independent) Share this | Hansard source

about how little pharmaceutical companies paid in tax—or if it is Google, Apple, Microsoft, all those companies, or a large Australian company, my understanding is that it will be picked up by this. That is just one question. If it is an Australian company that turns over $1 billion or more, unless it is solely based in Australia, my understanding is that the Australian Greens amendment will pick it up. My understanding is that my amendment would pick it up by virtue of the $1 billion threshold. They are the key differences. I will put some questions in relation to that. I do have a couple of questions to put to the government, because they will be responsible for enforcing this. These are technical questions. The Australian Greens amendment has no requirement for an audit as such, but my first question to the Minister for Finance is: will part 2M.3 of the Corporations Act apply in respect of a requirement for auditing? If it does, then that minimises the differences between the two amendments.