Richard Di Natale (Victoria, Australian Greens) Share this | Link to this | Hansard source

My question is to the Leader of the Government in the Senate, representing the Prime Minister. Minister, today the ABC revealed that the Adani Group paid no tax on its Abbot Point coal terminal project for the three financial years until mid-2016. It earned almost $1 billion, and not one cent of that flowed back to the Australian people. To add insult to injury, while Adani pays zero dollars in tax, it's also polluting Australia's coastal waters and wetlands with coal laden stormwater and then refusing to pay a $12,000 fine. In short, it is a disgrace. Minister, can you explain how Adani got away with paying zero tax on $1 billion?

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

I thank Senator Di Natale for that question. I make the same point to him as I made to Senator Watt, and that is that in Australia companies pay tax on their profits, not on their revenue. While I don't comment on the individual tax affairs of individual companies, the general point I would make is that the level of investment that is taking place in the context of opening up the Galilee Basin for increased coal exports of Australia of course provides many benefits to Australia. It generates many jobs, and these jobs, of course, are paid for by businesses investing in Australia. Those employees working for businesses being profitable and successful in Australia themselves pay taxes, and many small and medium sized businesses in Australia provide services to larger businesses in Australia that are making investments in Australia.

If you are suggesting that businesses in Australia should pay tax on their turnover then you should say so clearly—or are you suggesting that any Australian company that makes a loss should pay tax? Allowing losses to be offset against future profits is a standard feature of most income tax systems. Restrictions on the carry-forward of losses used to exist in Australia. However, they were removed by the Labor government back in 1990, and that was a good decision. If the opposition is suggesting that a higher company tax rate will make us more competitive in the future, and if the Greens and the Labor Party think that it will boost investment, jobs, wages and growth in the future, then they should put forward, as a concrete policy proposal, the proposition that tax should be imposed on revenue rather than on profits. I guess that the Greens and the Labor Party may be suggesting that Australian companies like the ones that have been mentioned should pay tax before they pay their employees. That, of course, is the implication of what Senator Di Natale is asking there.

Scott Ryan (President) Share this | Link to this | Hansard source

A supplementary question, Senator Di Natale.

Richard Di Natale (Victoria, Australian Greens) Share this | Link to this | Hansard source

Minister, we've also heard that the environment department found that Adani may have been negligent because it did not disclose its CEO's history of causing serious environmental harm in Zambia. Minister, people right across Australia—and I have to say there are a lot of them in Batman, lots and lots of them—don't want that mine to go ahead. There are a lot of them. The evidence is now overwhelming. Minister, why shouldn't we overturn approval for this dirty, jobs-destroying coalmine?

Honourable Senators:

Honourable senators interjecting—

Scott Ryan (President) Share this | Link to this | Hansard source

Order! Stop the clock. Senator Di Natale, please resume your seat. Senators around the chamber—

Honourable senators interjecting—

Senator Macdonald on a point of order.

Ian Macdonald (Queensland, Liberal Party) Share this | Link to this | Hansard source

I raise a point of order. The Democrats have been known for doing this for a long time, but it is getting worse. They take—sorry, the Greens.

Honourable senators interjecting—

Well, Andrew Bartlett's party.

Honourable senators interjecting—

Scott Ryan (President) Share this | Link to this | Hansard source

Order! Senator Di Natale, I'm hearing Senator Macdonald on a point of order.

Opposition senators interjecting—

Order on my left! It's only Wednesday.

Ian Macdonald (Queensland, Liberal Party) Share this | Link to this | Hansard source

Mr President, the Greens political party are now making a habit, particularly on broadcast day, of having a one-minute exposure of their ridiculous policies, and I do ask you to look into the question of asking questions. The two questions that Senator Di Natale has asked so far could have been asked right at the beginning of the thing, rather than having a one-minute preamble about the Greens political party's ridiculous policies.

Scott Ryan (President) Share this | Link to this | Hansard source

Senator Macdonald, I understand that flexibility has always been given to senators to preface their questions. There was a question at the conclusion of the preface. Senator Di Natale, I'm going to ask you to ask the second half of the question again, because I could not hear it.

Richard Di Natale (Victoria, Australian Greens) Share this | Link to this | Hansard source

Could I take a point of order on that: could you ask the senator from the United Australia Party for a translation of what just transpired here?

Scott Ryan (President) Share this | Link to this | Hansard source

That's not a point of order, Senator Di Natale. Can you ask the second part of your question again, because I got as far as the word 'Batman'?

Senator Wong interjecting—

Senator Wong, please.

Richard Di Natale (Victoria, Australian Greens) Share this | Link to this | Hansard source

Should I take it from the top?

Scott Ryan (President) Share this | Link to this | Hansard source

No. I need to take note for subsequent points of order. I got as far as that. Please continue the second part of your question.

Richard Di Natale (Victoria, Australian Greens) Share this | Link to this | Hansard source

I was reminding the minister of the many thousands of people in the seat of Batman, along with people right across Australia, who don't want the Adani coalmine to go ahead. Now that we have overwhelming evidence—

Ian Macdonald (Queensland, Liberal Party) Share this | Link to this | Hansard source

Ask a question!

Scott Ryan (President) Share this | Link to this | Hansard source

Senator Macdonald!

Richard Di Natale (Victoria, Australian Greens) Share this | Link to this | Hansard source

of the overt corruption and environmental vandalism that the Adani company is responsible for—

Scott Ryan (President) Share this | Link to this | Hansard source

Return to the question, Senator Di Natale!

Richard Di Natale (Victoria, Australian Greens) Share this | Link to this | Hansard source

why won't the minister now overturn—

Government senators interjecting—

Scott Ryan (President) Share this | Link to this | Hansard source

Colleagues on my right! There was so much noise in the chamber that I could not hear Senator Di Natale. I gave you some liberty, Senator Di Natale. You were taking slight advantage of it. Please return to the last phrase of your question, which commenced 'why'.

Richard Di Natale (Victoria, Australian Greens) Share this | Link to this | Hansard source

Sure. Batman, Batman, Batman—

Scott Ryan (President) Share this | Link to this | Hansard source

No, Senator Di Natale! I will move on if you do not return to your question.

Richard Di Natale (Victoria, Australian Greens) Share this | Link to this | Hansard source

Okay. Why won't the minister overturn this mine, given what we know about Adani?

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

Firstly, the issues—

Ian Macdonald (Queensland, Liberal Party) Share this | Link to this | Hansard source

Why would anyone vote for you in Batman!

Scott Ryan (President) Share this | Link to this | Hansard source

Order, Senator Macdonald!

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

that Senator Di Natale raises in relation to Zambia were assessed and considered by the department of the environment, and the department of the environment and the minister are satisfied that, with the strict environmental conditions that have been imposed, this project should proceed. It's a high-quality project and a great example of our capacity in Australia to balance environmental protection with important economic development, and job creation where that can be done. What I would also say is that opening up the Galilee Basin to boost the production and export of coal—better coal out of Australia than is available in other parts of the world, from an environmental point of view—is manifestly in the interests of the people of Queensland and the people of Australia. We'll continue to support this very important project.

Scott Ryan (President) Share this | Link to this | Hansard source

Senator Di Natale, a final supplementary question.

Richard Di Natale (Victoria, Australian Greens) Share this | Link to this | Hansard source

Minister, you've come to the nub of my next question, which is: this isn't about Adani as much as it is about the huge pollution that will result from a new coalmine in the Galilee Basin—something that the Labor Party refuses to acknowledge. Can you please tell the Australian community, especially the people of Batman, how our commitments under the Paris climate agreement are compatible with your plans and the Labor Party's plans to keep expanding our coal industry and build new coalmines?

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

Australia has a proud record of meeting its international emissions reduction targets. We met and, indeed, exceeded our emissions reduction targets under the Kyoto protocol. We are committed, and we believe we will equally meet our emissions reduction targets that were agreed in Paris. In fact, exporting more high-quality Australian coal and displacing dirtier coal from other sources will actually help to reduce global greenhouse gas emissions. I just remind Senator Di Natale that our second biggest export earner nationally is the sale and export of coal. The Australian government absolutely remains committed to continuing to support the very important coal production and export sector in Australia, particularly when it can supply— (Time expired)