By failing to introduce into Parliament its Diverted Profits Tax legislation by the end of this year, Treasurer Scott Morrison has broken yet another Turnbull Government promise.
On June 27 this year, Mr Morrison said:
“The DPT will be introduced in the second half of 2016.”
Later in the year, Mr Morrison said:
"We have budget revenue measures which are about improving the integrity of the tax base – there’ll be our diverted profits tax legislation which comes in later in the year.”
– Scott Morrison, 20 October 2016, 3mins 39secs.
However, yesterday Mr Morrison confirmed that the diverted profits tax will not be introduced in 2016.
The delay matters because the Treasurer is still promising his diverted profits tax will commence on 1 July 2017. It will be a huge and complicated impost for businesses to prepare in the short time between its passage through Parliament – if it ever gets there – and its implementation.
WEDNESDAY, 30 NOVEMBER 2016
MEDIA CONTACT: TAIMUS WERNER-GIBBINGS 0437 323 390