Senate debates

Thursday, 3 December 2015

Bills

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

6:43 pm

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

I just wanted to make it very clear, after Senator Conroy's rant, about what is one of the most substantial parts of the legislation we are dealing with here tonight, which is getting the application of general purpose accounting to significant global entities. We heard all the evidence in our Senate inquiry about the biggest potential tax avoiders, who may be getting away without paying their fair share of tax. They are the ones who are going to be required to meet this level of reporting. That is why this is so significant. I just want to get on record that the Greens have worked this afternoon—and I thank the minister and his staff here from Treasury, who have been very helpful in going through this in significant detail, with not just me and other people within the Greens but also Senator Xenophon and others—and we have looked at this very closely. As much as Labor have tried to pick holes in this, because it suits their argument, what we are seeing is not any weakening of Senator Xenophon's amendment. We have clarified some issues around Senator Xenophon's amendment, but we are convinced from what we have heard—

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