Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

I certainly agree with Senator Di Natale that we have to do everything that we can to ensure that every business that generates profits in Australia pays its fair share of taxes in Australia consistent with the laws of the land. The Treasurer tabled legislation in the House of Representatives yesterday to ensure, where multinational companies enter into contrived arrangements to avoid tax here in Australia, that the tax commissioner has the necessary powers to see through those contrived arrangements and ensure that the appropriate level of tax is paid here in Australia. Having said that, beyond that, of course, in any budget you have to make judgements about what the national interest is. You have to make judgements in the context of a whole series of competing priorities: a lot of meritorious causes that would like to see more money. You have to make judgements about what is affordable. We believe that in this budget we have taken a fair, measured and responsible approach, taking into consideration the particular challenges we are facing as a country right now. (Time expired)