Christine Milne (Tasmania, Australian Greens) Share this | Hansard source

I seek leave to amend business of the Senate notice of motion No. 2 standing in my name for today, proposing a reference to the Economics References Committee of matters relating to Australia's tax system, before asking that the motion be taken as a formal motion. The amendments, as circulated in the chamber, are highlighted in bold text:

That the following matter be referred to the Economics References Committee for inquiry and report by the first sitting day of June 2015:

Tax avoidance and aggressive minimisation by corporations registered in Australia and multinational corporations operating in Australia, with specific reference to:

(a) the adequacy of Australia's current laws;

(b) any need for greater transparency to deter tax avoidance and provide assurance that all companies are complying fully with Australia's tax laws;

(c) The broader economic impacts of this behaviour, beyond the direct effect on government revenue;

(d) the opportunities to collaborate internationally and/or act unilaterally to address the problem;

(e) the performance and capability of the Australian Taxation Office (ATO) to investigate and launch litigation, in the wake of drastic budget cuts to staffing numbers;

(f) the role and performance of the Australian Securities and Investments Commission in working with corporations and supporting the ATO to protect public revenue;

(g) any relevant recommendations or issues arising from the Government's White Paper process on the 'Reform of Australia's Tax System'; and

(h) any other related matters.

Leave granted.

I move the motion as amended:

That the following matter be referred to the Economics References Committee for inquiry and report by the first sitting day in June 2015:

Tax avoidance and aggressive minimisation by corporations registered in Australia and multinational corporations operating in Australia, with specific reference to:

(a) the adequacy of Australia's current laws;

(b) any need for greater transparency to deter tax avoidance and provide assurance that all companies are complying fully with Australia's tax laws;

(c) the broader economic impacts of this behaviour, beyond the direct effect on government revenue;

(d) the opportunities to collaborate internationally and/or act unilaterally to address the problem;

(e) the performance and capability of the Australian Taxation Office (ATO) to investigate and launch litigation, in the wake of drastic budget cuts to staffing numbers;

(f) the role and performance of the Australian Securities and Investments Commission in working with corporations and supporting the ATO to protect public revenue;

(g) any relevant recommendations or issues arising from the Government's White Paper process on the 'Reform of Australia's Tax System'; and

(h) any other related matters.

Question agreed to.