Thursday, 3 December 2015
Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill 2015; In Committee
I move the following amendment:
At the end of the motion, add: 'but agrees to amendments (1) and (3), circulated in my name on sheet 7836, which replaces amendment 3 with which the House has disagreed.'
Australian Greens circulated amendments—
(1) Schedule 1, page 7 (before line 10), before item 5, insert:
4A Paragraphs 3C(1)(a) and (b)
Repeal the paragraphs, substitute:
(a) the entity has total income equal to or exceeding $100 million for the income year and, at the end of the income year:
(i) the entity is not an Australian resident that is a private company for the income year; or
(ii) the entity is a member of a wholly-owned group that has a foreign resident ultimate holding company; or
(iii) the percentage of foreign shareholding in the entity is greater than 50%; or
(b) the entity has total income equal to or exceeding $200 million for the income year and, at the end of the income year, the entity is an Australian resident that is a private company for the income year.
(3) Schedule 1, page 7 (after line 21), at the end of the Schedule, add:
6 Application of amendment—item 4A
The amendment made by item 4A applies in relation to an entity for the 2013-14 income year and each later income year.