Joe Hockey says AAA credit rating safe for now, signals crackdown on tax diversion

By James Massola
Updated May 5 2015 - 4:11pm, first published April 28 2015 - 9:45am
Treasurer Joe Hockey has confirmed new measures will be introduced to target profits diverted overseas by big companies to avoid paying taxes on profits in Australia. Photo: Alex Ellinghausen
Treasurer Joe Hockey has confirmed new measures will be introduced to target profits diverted overseas by big companies to avoid paying taxes on profits in Australia. Photo: Alex Ellinghausen
Treasurer Joe Hockey has confirmed new measures will be introduced to target profits diverted overseas by big companies to avoid paying taxes on profits in Australia. Photo: Alex Ellinghausen
Treasurer Joe Hockey has confirmed new measures will be introduced to target profits diverted overseas by big companies to avoid paying taxes on profits in Australia. Photo: Alex Ellinghausen
Treasurer Joe Hockey has confirmed new measures will be introduced to target profits diverted overseas by big companies to avoid paying taxes on profits in Australia. Photo: Alex Ellinghausen
Treasurer Joe Hockey has confirmed new measures will be introduced to target profits diverted overseas by big companies to avoid paying taxes on profits in Australia. Photo: Alex Ellinghausen
Treasurer Joe Hockey has confirmed new measures will be introduced to target profits diverted overseas by big companies to avoid paying taxes on profits in Australia. Photo: Alex Ellinghausen
Treasurer Joe Hockey has confirmed new measures will be introduced to target profits diverted overseas by big companies to avoid paying taxes on profits in Australia. Photo: Alex Ellinghausen

Treasurer Joe Hockey has conceded Australia's AAA credit rating is at risk if the federal budget is not on a credible trajectory back to surplus, but he has insisted "we are a long way off that at the moment".