Labor promises to end up companies and individuals using overseas tax havens

The pledge is contained in a raft of measures Labor says would add $ 4.8 million to tax revenue over 10 years by targeting the practices of multinationals and wealthy individuals.

One of the practices it is taking care of

They reduce their Australian payments by using the off-shore facilities, but that's not the only saving they make.

They can claim an Australian tax deduct for the expense in going overseas to inspect their accounts.

Labor has pledge to scrap the deduction to ensure multinationals pay their own way.

The Opposition is announcing the day of the day, but it is also important to pay a little more attention.

It also says that in government it would be a big deal, but it would be a big deal.

"Working Australians pay their taxes – it's only fair that multinationals pay their fair share too," Labor will argue.

"Labor will also close a loophole that makes it easy for companies to make a deal."

The tax proposals released today include:

• An increase in penalties for tax evasion and avoidance;

• A tax-down on the status of the taxpayer and the tax evasion of the Australian Taxation Office.

Introduction of public reporting of country-by-country reports, ensuring the release of high-level information;

• Provide protection for whistleblowers who report to entities evading tax to the Australian Taxation Office and, where whistleblowers' information results in more tax being paid, allow them to collect a share of the tax penalty (a reward of up to $ 250,000).

Introduction of a publicly accessible registry of the beneficial ownership of Australian companies and trusts, allowing the public to find out who really owns our firms.

Introduction to mandatory shareholder reporting of tax haven exposures, requiring companies to disclose to shareholders to a Material Tax Risk if the company is doing business in a tax haven.

• Appointment of a community sector representative to the Board of Directors.