Chris Bowen (McMahon, Australian Labor Party, Shadow Treasurer) Share this | Link to this | Hansard source

My question is to the Prime Minister. Yesterday, coalition senators on the Senate Economics Legislation Committee delivered a report backing the Prime Minister's legislation which ensures that tax paid by private corporations with turnover of over $100 million a year will be kept secret. Given that, according to the tax office, one in five of these companies paid no tax last year, is the Prime Minister concerned about this lack of transparency? Will his government act?

Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

The government has acted and the arrangements that we have set out, the arrangements to get the balance right between disclosure and privacy, are absolutely correct. They have widespread support. Once again, the Labor Party is endeavouring to run a new campaign on the politics of envy and is trying to whip up a class war. The reality is we have a good tax system in Australia. Every Treasurer, including—

Mr Champion interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Wakefield is warned again. That will be his final warning.

Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

the current Treasurer, has been committed to ensuring that tax is paid and that everybody plays their part, and we are doing so. The work on base erosion and profit shifting that was just described a moment ago by the Treasurer is ongoing. The integrity of the tax system is absolutely vital. It will be maintained by my government, just as it has been maintained by governments in the past.