The biggest settlement in Australian tax history - Transcript, FIVEaa

E&OE TRANSCRIPT

RADIO INTERVIEW

FIVEAA MORNINGS

THURSDAY, 21 JULY 2022

Subjects: ATO settlement with Rio Tinto, JobKeeper

LEON BYNER, HOST: The Australian Government has welcomed the settlement reached between the ATO and Rio Tinto, which will pay approximately - listen to this - $1 billion, in one of the largest tax settlements in our tax history in this country. Now this represents, as I understand it, quite a drawn out - and we're talking here drawn out in years - hard work by the Tax Office. It's a significant win for everybody, because the community will ultimately benefit in terms of lower taxes. But that's a lot of money. $1 billion. Let's talk to a bloke who is, I think, one of the most qualified economics experts in the Australian Parliament. Highly revered, both by universities and economics experts. I'm talking about the federal Assistant Minister for Treasury, Dr Andrew Leigh. Andrew, thank you for coming on today.

ANDREW LEIGH, ASSISTANT MINISTER FOR COMPETITION, CHARITIES AND TREASURY: Pleasure, Leon. Great to be with you.

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$1 billion ATO settlement shows the importance of ensuring multinationals pay their fair share - Media Release

The Hon Stephen Jones MP
Assistant Treasurer and Minister for Financial Services

The Hon Andrew Leigh MP
Assistant Minister for Competititon, Charities and Treasury

$1 billion ATO settlement shows the importance of ensuring multinationals pay their fair share

The Australian Government welcomes the settlement reached between the Australian Tax Office and Rio Tinto, which will pay approximately $1 billion in one of the largest tax settlements in Australia’s tax history.

This announcement represents years of hard work by the Tax Office. It is a significant win for everyday Australians, who will ultimately benefit in terms of lower taxes, better services and/or less government debt.

It is also a significant win for Australia’s commitment to tax fairness, and the Albanese Government’s pledge to levelling the playing field for Australian businesses. Labor took to the election substantial commitments to close tax loopholes exploited by multinational companies, cutting off their ability to shift profits to low or no tax jurisdictions.

The Government will continue working alongside the Tax Office to create a system that is fair, transparent, and consistent in holding even the biggest companies to account.

“Our tax system relies on everyone paying their fair share, no more and no less”, said Stephen Jones, Assistant Treasurer.

“This result is a win for confidence in our system and I applaud the ATO’s efforts.

“More importantly, it is a win for taxpayers big and small as the Government continues to manage the current budget situation.”

“This is a big win for the Australian Tax Office, and for Australians. It means more money in the public purse, and more big multinationals agreeing to work with us to make the system fairer”, said Andrew Leigh, Assistant Minister for Competition, Charities and Treasury

“Expecting local firms to compete against tax‑dodging multinationals is like asking them to fight with one hand tied behind their backs. It’s just not fair. Closing multinational tax loopholes will create a better environment for productive firms to flourish, and add to the public confidence in our tax system.

“The Labor Government will move to implement the specific profit‑shifting measures we took to the election. We are also working closely with likeminded countries to implement the OECD/G20 Two Pillar Agreement as swiftly as possible.”

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Tackling multinational tax avoidance a matter of fairness - Transcript, Sky News

E&OE TRANSCRIPT

RADIO INTERVIEW

SKY NEWS FIRST EDITION 
THURSDAY, 21 JULY 2022
Subjects: ATO settlement with Rio Tinto; Reserve Bank review; foot and mouth disease

PETER STEFANOVIC, HOST: Rio Tinto has settled running disputes with the Australian Tax Office, agreeing to pay another lump sum. Almost a billion dollars has been paid, money the ATO claims the mining giant owed. Settlements include a dispute over whether the company should have deducted interest payments from money borrowed from itself to pay its UK arm and an argument over alleged transfer pricing through its controversial Singapore hub. Rio Tinto has paid 78 per cent of the total load. The ATO says it's a good outcome for the Australian tax system. And joining us live now is the Assistant Minister for Competition, Charities and Treasury, Andrew Leigh. Good morning, Andrew. Good to see you. That’s quite the amount to cough up.

ANDREW LEIGH, ASSISTANT MINISTER FOR COMPETITION, CHARITIES AND TREASURY: It certainly is. And it's a testament to the corporate tax inquiry headed by Labor Senators in 2015, which first flagged the issue of marketing hubs. I think it was pretty odd that you have resources companies digging up resources in Australia, selling them to a second country, and yet the payments are being routed through a third country. Four years ago, BHP reached a half billion dollar settlement. And this billion dollar settlement from Rio doesn't just cover past tax payments, but also says that going forward taxes on Australian commodities be paid in Australia, which is the way it should be.

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Paying tax not an optional extra - Transcript, ABC News Radio

E&OE TRANSCRIPT

RADIO INTERVIEW

ABC NEWS RADIO

THURSDAY, 21 JULY 2022

Subjects: ATO settlement with Rio Tinto; the budget outlook; COVID payments; Reserve Bank review; Labor’s positive agenda for a better future

THOMAS ORITI, HOST: First this half hour, the multinational mining giant Rio Tinto has settled a decade long tax dispute with the Australian Tax Office. It’s handed over almost a billion dollars in unpaid taxes after an investigation of its Singapore marketing hub. The settlement’s one of the largest in Australian tax history, with the mining giant following in the path of other multinationals forced to pay up. Let's get more on this now. We're joined by the Assistant Minister for Competition, Charities and Treasury Andrew Leigh. Andrew, good morning to you.

ANDREW LEIGH, ASSISTANT MINISTER FOR COMPETITION, CHARITIES AND TREASURY: Morning, Tom. Great to be with you.

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Rio Tinto settlement great news for taxpayers - Transcript, 2GB

E&OE TRANSCRIPT

RADIO INTERVIEW

2GB MONEY NEWS

WEDNESDAY, 20 JULY 2022

Subjects: ATO settlement with Rio Tinto, ANZ and SunCorp, foot and mouth disease

BROOKE CORTE, HOST: We've had some breaking news late today of one of Australia's biggest tax settlements. Rio Tinto has settled a $1 billion tax bill with the ATO after agreeing to pay back additional tax between 2010 and 2021. So the company will now have to fork out $613 million to the Tax Office, having already paid $378 million. The Assistant Minister for Competition, Charities and Treasury is Andrew Leigh. He joins us on the line. Minister, a very warm welcome to Money News.

ANDREW LEIGH, ASSISTANT MINISTER FOR COMPETITION, CHARITIES AND TREASURY: Thanks, Brooke. Great to be with you.

 

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Multi million dollar boost to Australia’s charities - Media Release

MULTI MILLION DOLLAR BOOST TO AUSTRALIA’S CHARITIES

The charity sector will save millions of dollars every year as reforms to reduce the burden on the sector take effect today, allowing more money to go towards supporting Australians and building stronger communities.

Charities under the small charity and medium charity thresholds are subject to lower reporting burdens, so raising the thresholds reduces the compliance burden for charities.

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Government helping drive down costs for car owners - Transcript, Doorstop

E&OE TRANSCRIPT

DOORSTOP

QUEANBEYAN

THURSDAY, 30 JUNE 2022

SUBJECT: Government helping drive down costs for car owners.

ASSISTANT MINISTER FOR COMPETITION, CHARITIES AND TREASURY ANDREW LEIGH: My name is Andrew Leigh, the Assistant Minister for Competition, Charities and Treasury. I'd like to thank Clem Camage Motors - Craig and his team - for having us here today for an enormously exciting announcement.

Modern cars are computers on wheels, and yet independent mechanics have struggled to get the digital files and codes they need to fix your car. When independent mechanics can't get access to the data they need, consumers pay more and don't have the choice that they require. We’re about to go into school holidays and many Australians will be taking that road trip, going up the coast maybe. And if you break down on a road trip, you might not find that there's a dealer nearby who specialises in the vehicle you're driving. But you'll probably find an independent mechanic round the corner. If that independent mechanic can get access to the digital files they need, they can get you back out on the road and enjoying your school holidays.

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Australian government driving down the cost of car repairs - Media Release

AUSTRALIAN GOVERNMENT DRIVING DOWN THE COST OF CAR REPAIRS

Australian drivers will soon have the freedom to have their vehicle serviced by any mechanic, meaning more choice for repairs and more cash in their pocket.

New cars are computers on wheels. Real-time access to vehicle information such as digital files and codes vary from car to car but are needed to complete many aspects of a repair or service. Car manufacturers generally own and control this technical information and in many cases only share it with their dealership’s networks and affiliated repairers, making it difficult for independent repairers to effectively compete for business.   

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Multiculturalism makes us more dynamic, interesting, and affluent nation - Transcript, ABC Radio Brisbane

E&OE TRANSCRIPT

RADIO INTERVIEW

ABC BRISBANE DRIVE

WEDNESDAY, 29 JUNE 2022

SUBJECT: Census.

STEVE AUSTIN, HOST: What is an Australian today? What do we look like? What do we present as, given the census data? I want to do this with my guest who is, as a result of the federal election, now an Assistant Minister. Andrew Leigh is Assistant Minister for Competition, Charities and Treasury. That's not the real reason why I wanted to speak with him. He's also a prolific writer of honest and interesting books, and most recently wrote the book ‘What's the Worst That Could Happen? Existential Risk and Extreme Politics’. Andrew, thanks for joining me today. Have any of your scenarios in that book come true yet?

ASSISTANT MINISTER FOR COMPETITION, CHARITIES AND TREASURY ANDREW LEIGH: Pleasure, Steve. It’s fortunate to say that the world has not ended yet, and long may that continue.

AUSTIN: Give me your just general overview, first of all. What stands out to you? What do you think, Andrew Leigh, as someone who's got a PhD in economics and writes prolific, as a prolific book writer, what stands out to you in the census data about who we are?

LEIGH: Two big things, Steve. One is that almost half of Australians have a parent born overseas, and it really does speak to the multicultural success story that is modern Australia. The other is the significant decline in the share of Australians expressing a religious affiliation. There's now almost as many people who profess to having no religion as there are Christians in Australia. So a big change in the way in which the nation engages with religion.

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Canberra tops country in population growth - Transcript, ABC Radio Canberra

E&OE TRANSCRIPT

RADIO INTERVIEW

ABC CANBERRA MORNINGS

WEDNESDAY, 29 JUNE 2022

SUBJECTS: Census; Canberra’s population and political representation; Staffing.

ADAM SHIRLEY, HOST: A day after his self-described Christmas, Assistant Minister Andrew Leigh is with us on Mornings. He is the Member for Fenner, and Assistant Minister for Competition, Charities and Treasury. Dr Leigh, a very good morning to you.

ASSISTANT MINISTER FOR COMPETITION, CHARITIES AND TREASURY ANDREW LEIGH: Good morning to you, Adam. Great to be with you and your listeners.

SHIRLEY: How was Christmas and the unwrapping of all your presents?

LEIGH: It's fascinating to get a bit of a picture of the ACT, to get a sense that we're volunteering at higher rates than the national average. An 18 per cent volunteering rate here in the ACT compared to 14 per cent nationally. It reminded me too what a strong Defence community we have here in the ACT, something maybe we don't talk about very much. Canberrans are five times as likely as the average Australian to be currently serving, and much more likely to be veterans. And that veteran community is a really vital part of Canberra.

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Cnr Gungahlin Pl and Efkarpidis Street, Gungahlin ACT 2912 | 02 6247 4396 | [email protected] | Authorised by A. Leigh MP, Australian Labor Party (ACT Branch), Canberra.