Division
Mathias Cormann Here we are. We have 20 minutes to deal with a piece of tax legislation that has massive implications for our economy, that has massive implications for our attractiveness as a destination for investment, that has not properly been thought through, that has massive potential for unintended consequences and that has not gone through proper processes. And here we are: we have a long list of coalition senators who are here ready to make a meaningful contribution, led by the coalition chair of the Senate references committee, Senator David Bushby, who was part of an inquiry into this particular bill, the Tax Laws Amendment (Countering Tax Avoidance and Multinational Profit Shifting) Bill 2013. But we will not have the opportunity to do proper justice to actually airing all the arguments against this bill so that, in particular, Greens senators might be persuaded of the merits of the very sound arguments that will be put forward by the coalition in this very short debate. Let me just say up-front that the coalition will be opposing this bill, and we will be opposing it strongly, because we think it is not in our national interest. It is a bill that is undermining our national interest. The coalition will always support well-considered, carefully drafted and appropriately targeted amendments to strengthen anti-tax-avoidance measures and counter multinational profit shifting. But we do not support Labor Party knee-jerk overreactions in the face of yet another desperate attempt to raid more cash to feed its spending addiction, which has been well demonstrated in recent years. In fact, the coalition in government has a long and proud record of improving and upholding the integrity of our business tax system and international taxation arrangements. However, we are very concerned that the amendments in this bill are in fact an overreaction. They go too far and should be subjected to more consultation and proper road-testing to avoid unintended consequences. Alo
Senate, 2013-06-25. affirmative: ayes 36, noes 30.
Question
Mathias Cormann Here we are. We have 20 minutes to deal with a piece of tax legislation that has massive implications for our economy, that has massive implications for our attractiveness as a destination for investment, that has not properly been thought through, that has massive potential for unintended consequences and that has not gone through proper processes. And here we are: we have a long list of coalition senators who are here ready to make a meaningful contribution, led by the coalition chair of the Senate references committee, Senator David Bushby, who was part of an inquiry into this particular bill, the Tax Laws Amendment (Countering Tax Avoidance and Multinational Profit Shifting) Bill 2013. But we will not have the opportunity to do proper justice to actually airing all the arguments against this bill so that, in particular, Greens senators might be persuaded of the merits of the very sound arguments that will be put forward by the coalition in this very short debate. Let me just say up-front that the coalition will be opposing this bill, and we will be opposing it strongly, because we think it is not in our national interest. It is a bill that is undermining our national interest. The coalition will always support well-considered, carefully drafted and appropriately targeted amendments to strengthen anti-tax-avoidance measures and counter multinational profit shifting. But we do not support Labor Party knee-jerk overreactions in the face of yet another desperate attempt to raid more cash to feed its spending addiction, which has been well demonstrated in recent years. In fact, the coalition in government has a long and proud record of improving and upholding the integrity of our business tax system and international taxation arrangements. However, we are very concerned that the amendments in this bill are in fact an overreaction. They go too far and should be subjected to more consultation and proper road-testing to avoid unintended consequences. Alo
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Related bills
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