Dumb but legal clears Taylor but blames Joyce (ODT)

The most controversial buybacks were in 2017, in the so-called “watergate” deals worth $80 million with Eastern Australia Agriculture, in Queensland’s Condamine Balonne Catchment.

The buybacks were executed under then-water minister Barnaby Joyce, who faced criticism because the parent company Eastern Australia Irrigation was domiciled in the Cayman Islands, a known tax haven, and recorded a $52 million profit from the sale.

The watergate scandal featured during last year’s federal election campaign, with speculation over Energy Minister Angus Taylor’s role in the deal with Eastern Australia, where he was co-director until 2013 when he was elected to Parliament.

via Auditor-General ‘watergate’ report finds buyback scheme didn’t ensure value