Stuart Robert (Fadden, Liberal Party, Minister for the National Disability Insurance Scheme) Share this | Hansard source

I thank all those members who've contributed to the debate. I especially thank the member for Macnamara. That was an excellent speech and contribution. The Treasury Laws Amendment (International Tax Agreements) Bill 2019, by amending the International Tax Agreements Act 1953, gives effect to a new tax treaty between Australia and Israel. It also introduces a new deemed-source-of-income rule for the purpose of the new tax treaty and for any future Australian tax treaties. The new treaty is the first of its kind between Australia and Israel and will provide an avenue to support closer linkage between Australia and Israel. The new treaty will create new trading opportunities for Australian businesses and will encourage trade and investment that is critical for our businesses to export, expand and employ more Australians. The new treaty will also help ensure that multinational corporations pay their fair share of tax and further demonstrates Australia's resolve to stamp out international tax avoidance. I commend the bill to the House.

See this speech in context