Cayman blasted down under

While conceding the investments were “all legal and disclosed”, Labor senator Sam Dastyari questioned whether they were appropriate for the Prime Minister.

“There’s a world of difference between putting your money in a super fund and letting them choose their investment, and deliberately choosing to buy in to particular structured investment vehicle in the Cayman Islands”, he said.

Labor has justified its two-day attack on Malcolm Turnbull’s investments in Cayman Islands-registered funds in part by pointing to Coalition legislation winding back transparency rules for private Australian companies.

Prime Minister Malcolm Turnbull said in a meeting in Canberra on Thursday that the Australian security system needs to be more agile to deal with violent extremism and with people who are turning children into terrorists.

“The effect of that arrangement is that all of that income that accrues to my share of the investment is brought to account fully – and tax is paid on it – fully in Australia”, Mr Turnbull told Parliament. “I think people know that”.

He said to avoid conflicts of interest, nearly all of his financial investments are in overseas managed funds, which means he has no say what companies they invest in.

The prime minister also said that Australia has diverse mix of population and the only objective of the extremist is to turn one community against another.

One of Mr Turnbull’s Cayman Island funds was registered in “Ugland House” a building that is home to about 19,000 companies, and one shrouded in controversy.

We’re hoping our politicians develop the same love for the Giphy roulette as we at HuffPost Australia – and no doubt countless workplaces across the globe – have, so for Malcolm, Julie Bishop, Christopher Pyne, Warren Truss, Scott Morrison, George Brandis and the rest, we plugged into Slack a bunch of words that would often crop up in a cabinet meeting, to see what came up.

“This technological transformation has been remarkable but it poses great challenges for security”, Mr Turnbull said.

Mr Turnbull used humour to dismiss his “crude smears”.

“I’ll save the honourable member a few trouble – the fact is that Lucy and I have been very fortunate in our lives”.

“We’re shocked that a 12-year-old is on police radar for these types of matters”, Australian Federal Police Commissioner Andrew Colvin told the Australian Broadcasting Corporation (ABC). “That is absolutely true”, he said.

The Prime Minister said he did not believe his wealth was entirely the product of hard work.