The federal Senate has passed a motion requiring detailed disclosures of major contracts. The motion mandates that the Finance Minister provide Parliament with comprehensive reports on all government contracts exceeding $2 million. 

These reports are to be submitted twice a year, detailing crucial information such as the AusTender contract notice identification number, contract value, subject matter, duration, contracting government agency, and the firm or entity providing the work.

In addition to these core details, the reports must include any changes or extensions to contracts and any conflicts of interest that may have arisen during the engagements. 

Furthermore, the Finance Minister is required to disclose the total amount of all current consultancy contracts entered into by each agency or department.

The motion faced an attempt by the Australian Greens to lower the reporting threshold to $500,000 for all government contracts. 

However, this amendment was not passed, garnering support from only 12 out of 49 senators who voted on the motion.

The move comes in response to recommendations from the Finance and Public Administration References Committee, which was partly motivated by the controversy surrounding the tax leaks scandal involving PwC Australia and former partner Peter Collins, which led to disciplinary actions by the Tax Practitioners Board (TPB).

Reports say the TPB is currently conducting nine ongoing investigations related to this scandal, with two expected to conclude before the end of the year.