Sean Edwards (SA, Liberal Party) Share this | Hansard source

In the conduct of tax reform of this nature, no nation can allow itself to be an island. Reform in isolation would only lead to the transfer of our economic activity to other jurisdictions.

Senator Dastyari interjecting—

Have you ever heard of that? That's right, we did that with a carbon tax, didn't we. We had the carbon tax that we were going to lead the world with. Unfortunately, the world did not follow us. So here we are again going to do something in isolation. Come on! It is a globalised place out there now and all we do if we do it in isolation is export the jobs. It is a global issue and that is why it was brought up on the global stage. At least in the contribution that the Leader of the Greens made they did refer to the G20, which is the appropriate global forum for this to be brought up at.

To date the important work of this government covers 15 specific action items to address tax avoidance by multinational companies. I will give some idea to those that may be listening to this contribution. It includes increasing transparency in the tax system through country-by-country reporting, which will provide tax authorities with a clear overview of the location of profits, sales and assets, and where taxes are to be paid and accrued. I hope you are taking note, because this is actually going on. This is not just some empty little thought bubble in the morning: 'What are we going to have an urgency motion about in the chamber today?' The Greens say that businesses are shirking their responsibility and that the tax system is principally funded by the poor, who they say are subsidising the rich, who in turn do not pay their taxes either. That is not just a gross falsehood and intellectually dishonest; it is so easily shot down with the red pen of anyone informed in these matters.

One wonders how such an argument can possibly take flight in the first place. Well, it takes flight because it suits the Greens' politics of envy. This is their special brand of dog whistling. That is why they so eagerly pushed the recent report by the Tax Justice Network. What a lovely cover that is! It sounds nice! The report is a piece of fiscal fiction that should embarrass its supporters as much as its authors. It is claimed that the ATO is missing out on $8 billion in forgone revenues due to tax avoidance. You do not think that we would be onto that? We are all over here playing golf every day that we come to work!

I might note who the authors actually are. The Tax Justice Network consists of such unions and left-wing activist groups as the ACTU, the Australian Education Union, Greenpeace, Oxfam Australia and Victorian Trades Hall.