By Situation Theatre 04/04/16
For six months we’ve wondered how the Prime Minister got so good at making taxes disappear. Now with the leak of the Panama Papers and the many ways law firm Mossack Fonseca helps disappear taxation for thousands of powerful individuals and companies around the world, the inspiration for the PM’s approach to taxation has come to light.
First the GST went missing after a couple of months of debate, then the state income tax plan vanished after only a couple of days. All signs also point to an upcoming budget which will further reduce company tax, disappearing yet more money from public coffers.
The Panama Papers spotlight the operations of shell companies: empty vessels which serve as nothing more than a vehicle for business transactions.
The leak also helps shine a light on Australia’s first shell Prime Minister.