Senate debates

Thursday, 3 December 2015

Bills

Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill 2015; In Committee

6:42 pm

Photo of Mathias CormannMathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

If 100 per cent of an Australian company's income is generated in Australia, then that 100 per cent of income generated in Australia is 100 per cent of their global income. What matters is, as soon as you generate more than $1 billion in global income, you get captured, even if all of that income is generated in Australia.

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