Thursday, 13 May 2021
Questions without Notice
I know, I know. My question is to Senator Birmingham, representing the Prime Minister and the Treasurer. The State Grid Corporation of China is a 60 per cent shareholder in a foreign owned company trading as Jemena. Jemena owns electricity-generation assets and is the second-largest owner of Australia's gas pipelines, including gas pipelines in Queensland. Jemena pays no tax in Australia, because it says it has borrowed at 10.5 per cent from its parent company. Jemena says it is subject to an ATO audit for transfer pricing because of this arrangement. Despite a serious trade war with China, Jemena is seeking funding from the Northern Australia Infrastructure Facility for a proposed pipeline from Mount Isa through the Galilee Basin to Roma. My question is: how much money is the federal government planning to loan to the Chinese government so China can own critical infrastructure assets in Australia?