Corporate whistleblowers will have access to greater protections under draft laws which have cleared federal parliament.
The laws, which were introduced to the Senate in late 2017 and passed the lower house on Tuesday, put protections in place for people who report corruption, fraud, tax evasion or avoidance and misconduct within the corporate sector.
"These reforms help protect whistleblowers who may expose themselves to significant personal and financial risk in return for their critical role in the early detection and prosecution of misconduct in businesses," Assistant Treasurer Stuart Robert said.
Corporate crime costs Australia more than $8.5 billion a year and accounts for 40 per cent of the total cost of crime, he added.
The legislation includes amendments giving whistleblowers the right to go to the media if their complaints are not acted on in 90 days.
It also gives whistleblowers greater ability to conceal their identity, ensuring they are no longer required to identify themselves when making a disclosure.
It also protects whistleblowers from being victimised, adding a civil penalty for prosecution for victimisation.
Labor MP Meryl Swanson shared the story of a friend of hers who blew the whistle at their workplace but was "almost ostracised" professionally and didn't receive any assistance.
"I want more people like my friend to speak up against what is wrong without being labelled a dobber," she said.
"Thank you for doing it and Labor has your back."
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