Updated
Labor cracks down after PwC scandal
Consulting firms caught promoting tax exploitation schemes will be fined up to $780 million, a 100-fold increase, under the Albanese government’s sweeping response to the PwC tax leaks scandal.
A two-year Treasury review of the regulation of all professional firms; the removal of secrecy laws hampering the Tax Office and more power for regulators are also part of changes designed to fix a system deemed “not fit for purpose”.
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