Senate debates

Wednesday, 16 October 2019

Bills

Offshore Petroleum and Greenhouse Gas Storage Amendment (Miscellaneous Amendments) Bill 2019, Offshore Petroleum and Greenhouse Gas Storage (Regulatory Levies) Amendment Bill 2019; In Committee

9:42 am

Photo of Matthew CanavanMatthew Canavan (Queensland, Liberal National Party, Minister for Resources and Northern Australia) Share this | Hansard source

I must say I can't go into individual taxation issues here. I don't have that information. Obviously, it's a matter for the Australian Taxation Office, but my general understanding is that the ATO don't discuss individual taxation matters. We're talking about a framework. I think the government have clearly outlined in the contributions on this bill, in the EM and in the second reading speech that we take seriously the importance of having a consistent framework in place for these matters. As I said, I have taken on notice the question about the discovery process, but there is no information before me that says there is any issue currently with any of these deductions in the past being challenged directly, but we obviously have discovered that there was a mistake made in 2005. In most areas of life, when you find you have made a mistake you're best to correct it as soon as you can, and that's what we're doing today.

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