Those providers of capital have kicked us in the face with their abuse of the tax rules.
Anyone trying to argue they are dealing in good faith has not seen the obscene lengths they have gone to, and the many, many millions of dollars spent, to avoid paying tax.
Just look at Chevron's $1bn settlement with the ATO last year. That was a drop in the ocean compared to their other efforts.
They have been taking the piss for a long time, and the rules had to change.
Anyway, right call by Frydenberg as far as I'm concerned. The price wasn't anywhere near high enough to justify this sale, and then there's the security implications on top.
Ann: ACCC will not oppose acquisition of APA, page-34
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