People who supported the transparency provisions voted "no" and people who wanted to get rid of the provisions voted "yes".
What are the transparency provisions?
The bill requires the Commissioner of Taxation to publish certain tax information of corporations that have a total annual income of $100 million or more. That tax information includes the corporation's:
- name and ABN;
- total income;
- taxable income; and
- tax payable.
See Chapter 3 of the explanatory memorandum for more information.