Jim Chalmers (Rankin, Australian Labor Party, Shadow Parliamentary Secretary to the Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Minister for Revenue and Financial Services. Last night, for the first time in the history of Federation, an opposition second reading amendment passed the House on a bill the minister was responsible for while the minister was in the chamber. Was that because the minister agrees the government has failed to close tax loopholes or is it because the minister is so incompetent that she pays no attention when revenue decisions are being made?

Mr Pyne interjecting—

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

I have not called the minister yet. The Leader of the House will cease interjecting.

Mr Giles interjecting—

The member for Scullin will cease interjecting.

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

I would like to thank Wayne Swan's former chief of staff for that question.

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

The minister will refer to members by their correct titles.

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

I would like to thank the member for his question.

Honourable members interjecting—

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

The minister will resume her seat.

Mr Dutton interjecting—

The Minister for Immigration and Border Protection will cease interjecting.

Mr Husic interjecting—

The member for Chifley just cannot stop interjecting, so he can go and do it in his office under 94(a).

Mr Husic interjecting—

He will leave immediately.

The member for Chifley then left the chamber.

The level of interjections is far too high.

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

I understand why the member opposite is very sensitive on this point, because it is very embarrassing. But let me say that what is even more embarrassing is the depth that the Labor Party has sunk to and the adolescent games that they continue to play in this parliament, which have no impact on the legislation. That legislation, by the way, has today passed through not only the House but the Senate. It is legislation that helps us to combat multinational tax avoidance through the Australia-Germany tax treaty legislation.

In fact, we are very, very proud on this side of the House of our record on combating multinational tax avoidance. The opposition had six years to do something about this, but they sat on their hands. It takes a coalition government to actually do something about it. Only last year, we passed the multinational anti-avoidance law. The multinational anti-avoidance law is the most significant reform that has been brought into this parliament for decades to stop multinationals profit-shifting offshore. It provides increased penalties to the Australian Taxation Office and gives them increased powers. It means that Australians can have confidence in our Australian tax system. But did we receive help from those opposite? Did they talk the talk and walk the walk? No, every single one of them over there voted against these important reforms.

At the same time, we have increased the resources of the Australian Taxation Office. We have done that by increasing the international division of the ATO. It is much larger than it was under Labor. We also established the Tax Avoidance Taskforce in this year's budget, which will raise $3.7 billion over the forward estimates period. We have introduced country-by-country reporting, which means that our Australian Taxation Office will know the tax that is paid by these multinational companies in every country in which they operate. The Australian Taxation Office will be able to ensure that they can raise tax assessments here in Australia. We have also published tax information for tax transparency, we passed legislation to limit the scope for multinationals to claim excessive debt deductions and we are improving the integrity of the GST regime as well. These are only some of the elements that, on our side of the House, we have passed, no thanks to those opposite. (Time expired)