On 2 October 2014 the Senate referred an inquiry into corporate tax avoidance to the Senate Economics References Committee for inquiry and report by the first sitting day in June 2015.
On 15 June 2015, the Senate granted an extension to the committee to report by 13 August 2015. On 12 August 2015, the Senate granted an extension to the committee to report by 30 November 2015. On 23 November 2015, the Committee was granted an extension to report by 26 February 2016. On 22 February 2016, the committee was granted an extension to report on 22 April 2016.
On 2 May 2016, the Senate granted the committee a further extension to report by 30 September 2016.
The inquiry lapsed at the end of the 44th Parliament.
On 11 October 2016, the Senate agreed to the committee's recommendation that this inquiry be re-adopted in the 45th Parliament. The committee is to report by 30 September 2017.
All correspondence and evidence previously received for this inquiry has been made available to the new committee. This means that submissions already provided to the committee about this issue do not need to be re-submitted. Submissions to this inquiry received in the 44th Parliament can be accessed here.
The committee intends to refer to all evidence received during the 44th Parliament.
On 1 December 2016, the committee resolved to broaden the scope of the inquiry to include Australia's offshore oil and gas industry.
The committee has asked to receive submissions on the treatment and/or payment of:
- the Petroleum Resource Rent Tax (PRRT);
- deductions; and
- other taxes
by corporations involved in Australia's offshore oil and gas industry, including matters relating to the collection of these moneys by government.
Submissions close on 30 March 2017.