Hockey still waiting for Labor tax details

Treasurer Joe Hockey has written to Labor's Chris Bowen again asking for details of his anti-avoidance tax proposals.

Treasurer Joe Hockey has again written to his Labor counterpart seeking information on his party's anti-avoidance tax proposals.

In the letter he says shadow treasurer Chris Bowen had previously indicated that revenue estimates from the proposed package of measures are based on detailed, publicly available information.

"I am advised by the Treasury that this is not the case," Mr Hockey says.

He says both sides of politics agree that companies earning money in Australia should pay their fare share of tax and that the Treasury continues to examine additional compliance activity.

But the treasurer believes Labor's focus on further limiting debt deductions by companies does not combat the areas where anti-avoidance action is needed.

Instead, Mr Hockey announced on Sunday he attended to take action on contrived arrangements by foreign multinationals to avoid a taxable presence in Australia.

He intends to do this with the help of a working group with the UK.

He also says Mr Bowen's proposal to bring forward by 12 months the enhanced compliance obligations by business and government entities to the ATO is not feasible and the government is sticking with it its July 1, 2016 start date.


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Source: AAP


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