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Former Australian of the Year and serial entrepreneur Dick Smith has slammed the Turnbull government over proposed changes to tax disclosure laws, accusing the Coalition of caving in to the big business lobby.
Wealthy individuals are arguing reform to forthcoming Australia’s tax disclosure rules is necessary because the proposed laws apparently leave chief executives vulnerable to kidnapping.
Smith told Fairfax it was “absolute rubbish” that wealthy individuals would be at risk if their companies were forced to keep disclosing how much tax they pay.
“They do it themselves… they buy waterfront properties, big boats and big planes,” Smith said.
“I’m really disappointed in the Coalition on this, I think it is very important they don’t change this and I am asking the Prime Minister not to change this. Otherwise he will be ratting on typical Australians who pay their tax.”
The bill to alter Australia’s tax disclosure laws is currently before the Senate.