Crackdown on tax avoidance

New diversified profits tax imposing a 40 per cent penalty on tax-avoiding multinationals is in this year's budget.

BUDGET TARGETS TAX AVOIDANCE

* New diversified profits tax imposing 40 pct penalty on tax-avoiding multinationals

* New tax avoidance taskforce to help ATO crack down on evaders

* Measures forecast to raise $4.3b over four years

* A UK-style "Google tax" to close loopholes on cross-country tax differences

* Tougher fines for tax avoiders and protection for whistleblowers