Discuss in full the following:
“These 1000 companies will need to consider the new rules if they have economic activities in Australia but book their Australian sales revenue offshore,” he said.
“With the introduction of this legislation, we are sending a clear message that Australia has no tolerance for tax avoiders. If you are avoiding tax, the Australian Taxation Office will catch you.”
Mr Hockey today said: “Major international companies operating in Australia, but booking profits offshore, have to pay tax here.
“When a company or an individual avoids paying their fair share of tax, it means Australian families and small businesses are forced to carry more than their fair share.”
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