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

Mr Chairman, I rise on a point of order. Senator Conroy is adversely reflecting on the Prime Minister. The Prime Minister has publicly made very clear that he pays tax on all of his income in Australia and, like many industry funds, some of the funds in which Prime Minister Turnbull is invested are based in the Cayman Islands. In an abundance of caution to avoid risk of conflicts, most of his funds are invested overseas. Australian Super, I suspect, is invested in funds through the Cayman Islands. In any event, there is an adverse reflection on Prime Minister Turnbull by Senator Conroy which I would ask him to withdraw. There is an adverse reflection—a suggestion that somehow Prime Minister Turnbull is not complying with his tax obligations in Australia when he has already made very clear that he pays tax on all of his income here in Australia.