The final report of a Senate inquiry kicked off by the PwC scandal has finally been released.
The inquiry, which began in March last year, looked at how consultancy firms work with the broader Australian public service. It focused initially on claims PwC was party to internal government discussions and used this confidential information to help its clients devise tax minimisation strategies. The shocking revelations, published by the Australian Financial Review, led to the resignation of then-CEO Tom Seymour.
This issue affects every Australian. Corporate tax avoidance hurts the budget bottom line. It means less money for schools, hospitals, pensioners or cost-of-living relief. PwC’s actions potentially allowed private businesses to pay less tax.
