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

I thank Senator Watt for that question. No wonder the Labor Party are so shocking at managing the economy when they are in government, because they clearly don't understand that company tax, business tax, is imposed on profits, not revenue. Let me tell you, the consequences for investment, jobs, wages and the future prosperity of Australian families will be devastating. If Labor want to introduce a tax on revenue, they should say so. If Labor's policy is to introduce a tax on revenue, they should say so.