The 1953 International Taxation Bill has worked against the Australian economy for the past four decades. The tax revenue loss would have been sufficient to finance any and all, industry, business and farming, and capital works etc. without the need for foreign investment.

Generally known as the Double Taxation Bill, it is best summed up in the words of the Hon. Clyde R. Cameron, "A government worth its salt would repudiate the 1953 decision to allow foreign countries to repatriate their profits to their parent companies without having to pay a proper share of their tax burden".

It is also worth reading the initial criticism at the bill's inception, see Hansard, HR, 26 Nov.1953, page 601.

Commonwealth Consolidated Acts INTERNATIONAL TAX AGREEMENTS ACT 1953