Kelly O'Dwyer (Higgins, Liberal Party, Minister for Revenue and Financial Services) Share this | Hansard source

Firstly, I would like to thank those members who have contributed to this debate. This bill by amending the International Tax Agreements Act 1953 gives the effect to a new tax treaty between Australia and Germany. This new treaty modernises the existing bilateral tax arrangements to bring them into the 21st century. This new treaty will create new training opportunities for Australian businesses and will encourage trade and investment that is critical for our businesses to export, expand and employ more Australians.

This new treaty will also help ensure that multinational corporations pay the tax that they should be paying and further demonstrates Australia's resolve to stamp out international tax avoidance. I commend the bill to the House.

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