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| Senate passes tax avoidance bill targeting multinationals – as it happened | Senate passes tax avoidance bill targeting multinationals – as it happened |
| (30 days later) | |
| 7.06am GMT | 7.06am GMT |
| 07:06 | 07:06 |
| Night time politics | Night time politics |
| Tomorrow is the last sitting day of the week, before a week’s break. Thanks so much to Shalailah Medhora, Daniel Hurst, Lenore Taylor and Mike Bowers. We did not see as much of Bowers today as he was out on royal watch but he will be back in the house tomorrow. | Tomorrow is the last sitting day of the week, before a week’s break. Thanks so much to Shalailah Medhora, Daniel Hurst, Lenore Taylor and Mike Bowers. We did not see as much of Bowers today as he was out on royal watch but he will be back in the house tomorrow. |
| Thanks for your company and conversation. | Thanks for your company and conversation. |
| Good night. | Good night. |
| 6.51am GMT | 6.51am GMT |
| 06:51 | 06:51 |
| The senate is now looking at the government’s foreign acquisitions and takeovers legislation amendments. | The senate is now looking at the government’s foreign acquisitions and takeovers legislation amendments. |
| These bills relate to rules applying to foreign investors, including foreign government investors and lower the thresholds for investments in agricultural land. | These bills relate to rules applying to foreign investors, including foreign government investors and lower the thresholds for investments in agricultural land. |
| Labor wants to amend the bill to scrap requirements for Foreign Investment Review Board (Firb) screening of agribusiness investments worth more than $55 million. | Labor wants to amend the bill to scrap requirements for Foreign Investment Review Board (Firb) screening of agribusiness investments worth more than $55 million. |
| They will also amend the bill to increase the Firb screening threshold for investment in agricultural land from the government’s proposed $15 million (cumulative) to $50 million (non-cumulative). | They will also amend the bill to increase the Firb screening threshold for investment in agricultural land from the government’s proposed $15 million (cumulative) to $50 million (non-cumulative). |
| Under the Coalition proposal, United States, United Kingdom and Chile would have agriculture land and investment thresholds of $1.094bn. | Under the Coalition proposal, United States, United Kingdom and Chile would have agriculture land and investment thresholds of $1.094bn. |
| Singapore and Thailand would have an ag land threshold of $50m and $55m for agribusiness. | Singapore and Thailand would have an ag land threshold of $50m and $55m for agribusiness. |
| Japan, Korea, China and the rest of the world would have an ag land threshold of $15m (cumulative) and $55m for agribusiness. | Japan, Korea, China and the rest of the world would have an ag land threshold of $15m (cumulative) and $55m for agribusiness. |
| 6.18am GMT | 6.18am GMT |
| 06:18 | 06:18 |
| Shalailah Medhora has pointed me to a story she did a few months ago which has some interesting figures regarding the multinational tax avoidance. | Shalailah Medhora has pointed me to a story she did a few months ago which has some interesting figures regarding the multinational tax avoidance. |
| The kidnapping issue was discussed in a senate hearing and the federal police told the senators that they had never been approached by the tax office over kidnapping fears in relation to publication of tax details. | The kidnapping issue was discussed in a senate hearing and the federal police told the senators that they had never been approached by the tax office over kidnapping fears in relation to publication of tax details. |
| This maybe because all the details are available through an Australian Securities and Investment Commission search for $38. The balance sheets will just not be added together in the same way as it will under the proposed bill. | This maybe because all the details are available through an Australian Securities and Investment Commission search for $38. The balance sheets will just not be added together in the same way as it will under the proposed bill. |
| But the other thing that the Australian Tax Office revealed in the hearing was that one in five privately held companies with a revenue greater than $100m did not pay any tax in 2014. | But the other thing that the Australian Tax Office revealed in the hearing was that one in five privately held companies with a revenue greater than $100m did not pay any tax in 2014. |
| The reasons including companies having different profit cycles and investment initiatives that resulted in them making no profit and therefore being ineligible for paying tax. | The reasons including companies having different profit cycles and investment initiatives that resulted in them making no profit and therefore being ineligible for paying tax. |
| 6.03am GMT | 6.03am GMT |
| 06:03 | 06:03 |
| Coalition's Hobson's choice on multinational tax avoidance | Coalition's Hobson's choice on multinational tax avoidance |
| So now the government faces Hobson’s choice on multinational tax avoidance. The general thrust of the original bill was a great thing, tightening the rules for multinational companies to ensure they don’t skip paying Australian tax. But by making the exemption for wealthy private companies (earning more than $100m a year), it created weakness in the legislation which has now been exploited by their opposition. | So now the government faces Hobson’s choice on multinational tax avoidance. The general thrust of the original bill was a great thing, tightening the rules for multinational companies to ensure they don’t skip paying Australian tax. But by making the exemption for wealthy private companies (earning more than $100m a year), it created weakness in the legislation which has now been exploited by their opposition. |
| When the bill goes to the lower house, which it must, the government must either drop the bill altogether, thereby letting multinationals off the hook on tax - or accept the amendments which make private companies publish details. Labor did include a provision which allows private companies to opt out if they put their case to the tax commissioner. For example, on the grounds of market changes or sales etc. | When the bill goes to the lower house, which it must, the government must either drop the bill altogether, thereby letting multinationals off the hook on tax - or accept the amendments which make private companies publish details. Labor did include a provision which allows private companies to opt out if they put their case to the tax commissioner. For example, on the grounds of market changes or sales etc. |
| Greens senator Peter Whish-Wilson moved this and Sam Dastyari followed up, with Nick Xenophon. They were supported by Lambie and Lazarus. They needed one more. John Madigan abstained. Then Ricky Muir came in, headed for the government benches but then turned toward Greens/Labor with dramatic flourish. Muir is now confident enough to make senate LOLs. | Greens senator Peter Whish-Wilson moved this and Sam Dastyari followed up, with Nick Xenophon. They were supported by Lambie and Lazarus. They needed one more. John Madigan abstained. Then Ricky Muir came in, headed for the government benches but then turned toward Greens/Labor with dramatic flourish. Muir is now confident enough to make senate LOLs. |
| 5.39am GMT | 5.39am GMT |
| 05:39 | 05:39 |
| The Greens/Labor/Xenophon multinational tax avoidance amendment passes the senate with support of Ricky Muir, Glenn Lazarus and Jacqui Lambie. | The Greens/Labor/Xenophon multinational tax avoidance amendment passes the senate with support of Ricky Muir, Glenn Lazarus and Jacqui Lambie. |
| It still needs to pass the house. | It still needs to pass the house. |
| Updated | Updated |
| at 5.40am GMT | at 5.40am GMT |
| 5.34am GMT | 5.34am GMT |
| 05:34 | 05:34 |
| Back to the senate. | Back to the senate. |
| Nick Xenophon is supporting the most recent changes to the multinational tax avoidance bill, which would overturn the provisions to protect large private companies from publishing tax details. | Nick Xenophon is supporting the most recent changes to the multinational tax avoidance bill, which would overturn the provisions to protect large private companies from publishing tax details. |
| So the Greens, Labor and Xenophon voting for the amendment. A division is called and we shall see who else comes out. | So the Greens, Labor and Xenophon voting for the amendment. A division is called and we shall see who else comes out. |
| 5.30am GMT | 5.30am GMT |
| 05:30 | 05:30 |
| Daniel Hurst | Daniel Hurst |
| The government has agreed to continue briefing Labor on the amendments to the citizenship legislation, so the parliamentary debate is not likely to resume until tomorrow. The latest meeting was due to begin a short time ago. | The government has agreed to continue briefing Labor on the amendments to the citizenship legislation, so the parliamentary debate is not likely to resume until tomorrow. The latest meeting was due to begin a short time ago. |
| As I reported earlier, Labor had called for a delay in the parliamentary debate on the citizenship revocation laws, arguing it was being put in the “impossible position” of having to discuss the bill in the chamber today before it had been fully briefed. | As I reported earlier, Labor had called for a delay in the parliamentary debate on the citizenship revocation laws, arguing it was being put in the “impossible position” of having to discuss the bill in the chamber today before it had been fully briefed. |
| The government rejects any suggestion it has rushed the process, saying multiple briefings about the citizenship proposals have been held over the course of the year. | The government rejects any suggestion it has rushed the process, saying multiple briefings about the citizenship proposals have been held over the course of the year. |
| But the 13 pages of amendments to the original bill (to reflect the bipartisan security committee’s recommendations) were released only yesterday, after they were signed off by the Coalition party room, and the government offered Labor’s immigration spokesman, Richard Marles, a briefing on Tuesday. | But the 13 pages of amendments to the original bill (to reflect the bipartisan security committee’s recommendations) were released only yesterday, after they were signed off by the Coalition party room, and the government offered Labor’s immigration spokesman, Richard Marles, a briefing on Tuesday. |
| Marles, wrote to the minister, Peter Dutton, earlier today saying that briefing lasted only 35 minutes and he had only had the chance at that meeting to explore 12 of the 27 recommendations. He also wanted the shadow, attorney general, Mark Dreyfus, to attend the next briefing. Both were expected to go to the subsequent briefing, scheduled for 4.10pm. | Marles, wrote to the minister, Peter Dutton, earlier today saying that briefing lasted only 35 minutes and he had only had the chance at that meeting to explore 12 of the 27 recommendations. He also wanted the shadow, attorney general, Mark Dreyfus, to attend the next briefing. Both were expected to go to the subsequent briefing, scheduled for 4.10pm. |
| Marles has emphasised that Labor is simply checking that the amendments to the bill give “proper legislative expression” to the committee’s recommendations. It’s unclear whether there’s anything in the detail on which Labor is now having second thoughts.More details about the tussle in my earlier story. | Marles has emphasised that Labor is simply checking that the amendments to the bill give “proper legislative expression” to the committee’s recommendations. It’s unclear whether there’s anything in the detail on which Labor is now having second thoughts.More details about the tussle in my earlier story. |
| 5.27am GMT | 5.27am GMT |
| 05:27 | 05:27 |
| Helen Davidson reports the high court’s decision to uphold the Northern Territory’s controversial paperless arrest laws could result in more Indigenous deaths in custody, federal senator Nova Peris fears. | Helen Davidson reports the high court’s decision to uphold the Northern Territory’s controversial paperless arrest laws could result in more Indigenous deaths in custody, federal senator Nova Peris fears. |
| 5.23am GMT | 5.23am GMT |
| 05:23 | 05:23 |
| Hello. There is a new amendment to the multinational tax avoidance bill, agreed to by Greens, Labor and some of the crossbenchers. | Hello. There is a new amendment to the multinational tax avoidance bill, agreed to by Greens, Labor and some of the crossbenchers. |
| A fix maybe in. | A fix maybe in. |
| 5.20am GMT | 5.20am GMT |
| 05:20 | 05:20 |
| The senate is now back on the multinational tax avoidance bill - and specifically the Greens amendment to publish tax details of private companies which earn more than $100m. (see post 10.01am) | The senate is now back on the multinational tax avoidance bill - and specifically the Greens amendment to publish tax details of private companies which earn more than $100m. (see post 10.01am) |
| Labor senator Sam Dastyari and Greens senator Peter Whish-Wilson are playing tag team to extract information on why the government is shielding wealthy private companies from tax rules which would be applied to other large companies. | Labor senator Sam Dastyari and Greens senator Peter Whish-Wilson are playing tag team to extract information on why the government is shielding wealthy private companies from tax rules which would be applied to other large companies. |
| The fifth minister is now answering questions on this bill as the finance minister Mathias Cormann not in the senate. | The fifth minister is now answering questions on this bill as the finance minister Mathias Cormann not in the senate. |
| New minister, Queensland LNP senator James McGrath says the government will not make large private companies disclose their tax details because it would “impose greater red tape on business”. | New minister, Queensland LNP senator James McGrath says the government will not make large private companies disclose their tax details because it would “impose greater red tape on business”. |
| 5.05am GMT | 5.05am GMT |
| 05:05 | 05:05 |
| The senate has passed a motion to urge the government to return to 100% recycled paper in government departments and agencies. | The senate has passed a motion to urge the government to return to 100% recycled paper in government departments and agencies. |
| In July, the government withdrew a commitment to supply 100% recycled paper to government departments, as outlined in the Australian Government ICT Sustainability Plan 2010-2015. | In July, the government withdrew a commitment to supply 100% recycled paper to government departments, as outlined in the Australian Government ICT Sustainability Plan 2010-2015. |
| Greens senator Janet Rice said Australian industry groups supported the move. | Greens senator Janet Rice said Australian industry groups supported the move. |
| While the motion succeeded, it does not compel the government. | While the motion succeeded, it does not compel the government. |
| 4.58am GMT | 4.58am GMT |
| 04:58 | 04:58 |
| Malcolm Turnbull is off tonight on his first overseas trip as PM. The wonderful Murpharoo is in the luggage and she has prepared this report. | Malcolm Turnbull is off tonight on his first overseas trip as PM. The wonderful Murpharoo is in the luggage and she has prepared this report. |
| Trade and economic ties are expected to be the focus of Malcolm Turnbull’s first visit to Jakarta as prime minister on Thursday. | Trade and economic ties are expected to be the focus of Malcolm Turnbull’s first visit to Jakarta as prime minister on Thursday. |
| The prime minister will miss the final sitting day of parliament to hold the first face-to-face meeting with the Indonesia president, Joko Widodo, since the execution by firing squad in April of the Bali Nine duo, Andrew Chan and Myuran Sukumaran. | The prime minister will miss the final sitting day of parliament to hold the first face-to-face meeting with the Indonesia president, Joko Widodo, since the execution by firing squad in April of the Bali Nine duo, Andrew Chan and Myuran Sukumaran. |
| 4.15am GMT | 4.15am GMT |
| 04:15 | 04:15 |
| With a final Dixer on private health insurance, question time is over. | With a final Dixer on private health insurance, question time is over. |
| Now the prime minister heads off to government house to meet with Prince Charles and Camilla. | Now the prime minister heads off to government house to meet with Prince Charles and Camilla. |
| 4.13am GMT | 4.13am GMT |
| 04:13 | 04:13 |
| 4.09am GMT | 4.09am GMT |
| 04:09 | 04:09 |
| Jenny Macklin asks Christian Porter a question about a grandparent carer who has written to her. | Jenny Macklin asks Christian Porter a question about a grandparent carer who has written to her. |
| Rita writes: “I feel highly insulted by the condescending attitude of the minister for social services.” Rita will be 78 when her granddaughter turns 13 when she will face cuts to family benefits. She writes, “I do not wish to complain as I love having this little girl in my life, but how could anyone possibly think an employer would take me on. | Rita writes: “I feel highly insulted by the condescending attitude of the minister for social services.” Rita will be 78 when her granddaughter turns 13 when she will face cuts to family benefits. She writes, “I do not wish to complain as I love having this little girl in my life, but how could anyone possibly think an employer would take me on. |
| Porter wants to know what savings Labor will make to rein in expenditure. | Porter wants to know what savings Labor will make to rein in expenditure. |
| 4.04am GMT | 4.04am GMT |
| 04:04 | 04:04 |
| Liberal Reid MP Craig Laundy asks Malcolm Turnbull about the friendship between Australia and Turkey and the upcoming G20. | Liberal Reid MP Craig Laundy asks Malcolm Turnbull about the friendship between Australia and Turkey and the upcoming G20. |
| 4.02am GMT | 4.02am GMT |
| 04:02 | 04:02 |
| Labor’s Jenny Macklin asks social services minister Christian Porter: Michelle writes, “I work full-time and I’m a single parent of a10-year-old and a 17-year-old. Your cuts will hit families like mine and it is offensive to hear you selling the families package by demeaning recipients of these tax benefits as being unwilling to work.” Why does the minister think it’s fair to take thousands of dollars from the pockets of families like Michelle’s? | Labor’s Jenny Macklin asks social services minister Christian Porter: Michelle writes, “I work full-time and I’m a single parent of a10-year-old and a 17-year-old. Your cuts will hit families like mine and it is offensive to hear you selling the families package by demeaning recipients of these tax benefits as being unwilling to work.” Why does the minister think it’s fair to take thousands of dollars from the pockets of families like Michelle’s? |
| Porter suggests it’s a bit rich, given “she removed 77,000 single mothers from parenting payments who were previously grandfathered, those single mothers lost $150 a fortnight, $4,000 a year. | Porter suggests it’s a bit rich, given “she removed 77,000 single mothers from parenting payments who were previously grandfathered, those single mothers lost $150 a fortnight, $4,000 a year. |
| 3.57am GMT | 3.57am GMT |
| 03:57 | 03:57 |
| Talk to the hand. | Talk to the hand. |
| 3.55am GMT | 3.55am GMT |
| 03:55 | 03:55 |