WATCH: Kevin Hogan endorses Diverted Profits Tax
PAGE MP Kevin Hogan delivered a speech to Parliament regarding the crackdown on multi-national tax avoidance at on Wedensday.
Here is the speech in full:
"Deputy Speaker. Multinationals need to pay their fair share of tax. The new Diverted Profits Tax announced last night will make sure large multinationals are paying the tax they should on profits made in Australia.
"I have always believed, as does my community, that if you make a profit in Australia, that profit should be taxed in Australia. The people in my community of Page, work hard and pay their taxes - so should the large multinationals.
"This new Diverted Profits Tax will return many billions of dollars to the Australian community. I'm proud that this Government will close the loopholes that allow large corporations to exploit the differences between Australia and other countries tax rates.
"The Diverted Profits Tax will start on July 1 next year. We will provide the ATO with much greater powers to deal with multinationals, and those which are found rorting the system will be slugged with a 40 per cent tax rate.
"These billions of dollars will be returned to our communities to build more hospitals and schools.
"This new Diverted Profits tax will re-inforce Australia as having one of the toughest laws in the world to combat corporate tax avoidance. A title which we should all be proud."
Who will you vote for in the electorate of Page?
This poll ended on 10 May 2016.
Kevin Hogan - National
Janelle Saffin - Labor
Kudra Falla-Ricketts - Greens
This is not a scientific poll. The results reflect only the opinions of those who chose to participate.