Jess Walsh (Victoria, Australian Labor Party) Share this | Hansard source

Yes, I repeat: it was left up to the Labor government many years later to implement your commitment in 2016-17 MYEFO to actually implement what we have done with schedule 5 on franked distributions funded by capital raisings, and we are proud to do so to add integrity and transparency to our tax system and to the way that those measures operate. It is extraordinary that we are going to have so much opposition to, as I understand it, schedule 4 and schedule 5, again, when the opposition does not even have a person who is empowered to speak on these issues, does not have a shadow minister. We know that they're all here auditioning for the role. We look forward to all of the contributions to audition for the role which has been left vacant for six months while you show your complete disregard for integrity in our financial system by refusing that position.

But what we have in front of us is actually a straightforward TLAB bill. It is a straightforward bill that's gone through the usual processes. It's been consulted a lot. It's gone through the Senate committee. Perspectives have been sought. Amendments are being put. This bill gets the balance right. We are not wasting any time, unlike those opposite, delivering on transparency and integrity. Australians have voted for government that will deliver transparency and integrity, and that is exactly what we are doing with this bill. I commend it to the Senate.