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

Of course there's a guarantee that businesses around Australia have to pay their tax. It's called the law, and it's called enforcement action by the Australian Taxation Office. If you look at what the tax commissioner, Chris Jordan, told Senate estimates, he's pointed out that the tax office expects to raise $10 billion more, in this coming year, from the high end of town, as you call it—from multinationals—as a result of stronger growth, more jobs and our effective action against multinational tax avoidance. We've passed the multinational tax avoidance laws. We've passed the diverted profits tax laws. We've passed law after law and taken initiative after initiative to ensure that multinationals pay their fair share of tax. This next year, according to the tax commissioner, more than $10 billion more in revenue will be raised as a result of our action in terms of better policy and better enforcement action. Under Labor, higher taxes will mean fewer jobs and lower wages. Under us, lower taxes will mean more jobs and higher wages. (Time expired)