Home
/
Posts
/
News
/
Wealthy business owners get tax shield as PM talks up ‘have a go’ society

Wealthy business owners get tax shield as PM talks up ‘have a go’ society

Tax paid by companies controlled by Australia's richest business people, including Gina Rinehart, James Packer and Lindsay Fox, will remain secret after the Coalition succeeded in exempting private companies from new tax disclosure requirements.

by Shared by The Sydney Morning Herald | 19 Oct, 2015

The exemption, which followed a low-profile lobbying push by wealthy business owners against obligations due to take effect in December, passed the Senate on Thursday as Prime Minister Malcolm Turnbull hit back against Labor’s “smear” on his personal wealth and offshore investments.

Read the full story at The Sydney Morning Herald.