ANOTHER YEAR, ANOTHER WIN FROM LABOR’S TAX LAWS
As reported today, last month’s $529 million settlement between BHP and the Australian Tax Office would not have been possible without two bills introduced by Labor in 2012 and 2013.
Labor’s laws closed a multinational tax loophole. The Coalition voted against them on the basis that they claimed they were retrospective.
Labor’s laws were also used in the 2017 Chevron judgement, which added hundreds of millions of dollars to the budget bottom line. With extraordinary chutzpah, then Treasurer Scott Morrison even tried to take credit for that result.
When MYEFO is handed down tomorrow, Australians will know that the budget would have been half a billion dollars worse off if the Coalition had their way on the floor of parliament in 2012 and 2013.
Authorised by Noah Carroll, ALP, Canberra.