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Thursday, 3 December 2015
Page: 9898

Senator CORMANN (Western AustraliaMinister for Finance and Deputy Leader of the Government in the Senate) (18:42): If 100 per cent of an Australian company's income is generated in Australia, then that 100 per cent of income generated in Australia is 100 per cent of their global income. What matters is, as soon as you generate more than $1 billion in global income, you get captured, even if all of that income is generated in Australia.