Hockey still announcing policy

Treasurer Joe Hockey announced the new bill, despite widespread reports that Scott Morrison has already been offered his portfolio by Prime Minister Malcolm Turnbull. But the positions have not yet been officially confirmed.

The number of homes under the microscope has increased since Mr Hockey announced in June that the FIRB was probing 195 home purchases for allegedly breaking Australia’s foreign investment rules.

Cabinet reshuffles almost always occur when a new leader is appointed – the question is how far Turnbull will go to freshen up his front bench. “That’s why I’m doing my job, that’s what I’m here for”, he said.

“No, no I am not going to speculate on it, calm down”.

Treasurer Joe Hockey on September 15 introduced new laws in Parliament that are created to crack down on tax avoidance by multinational companies having operations in Australia.

Even though the tax laws in Australia are amongst the toughest in the world, several multinational companies continue to successfully avoid taxes. This is holding back closer economic and financial links between our countries”, the announcement continued, “A tax treaty with Israel would reduce the incidence of double taxation, provide greater tax certainty for businesses and enhance the integrity of both countries’ tax systems.

The measures will apply to more than 1000 large multinationals operating in Australia with annual global revenue of $1 billion or more.

Mr Hockey said he had been working with the United Kingdom government and the OECD to bring in the new laws from January 1, 2016.

‘These companies represent the highest risk to Australia’s tax base, ‘ Mr Hockey said.

“The purchase prices of the properties range in value from A$265,000 to A$8.1 million”, Mr. Hockey told reporters in Canberra.

The 500 investigations are the result of “dob-ins” from the community, Tax Commissioner Chris Jordan said.

You know that. And I see the job that I have as one being loyal to the Australian people.

“He’s talking in the parliament, he’s getting impassioned, he wants people to listen to him and no one’s paying attention”, he told reporters.

“The time-honoured tradition is for the FBO to be released publicly and the Treasurer and Finance Minister to hold a press conference to explain and answer questions on the outcomes”, Mr Bowen said.

“It is absolutely appropriate… and I’m sure they will be very good decisions”, Josh Frydenberg told Sky News.

They were prepared to restructure their business to pay a fair share of taxes, Mr Hockey said.

Asked on Wednesday if he wants to stay in his current job, Hockey said: “I have had discussions with the Prime Minister about that and I will leave it to those discussions”.