Joe hockey getting on with the job as treasurer however long he may have it

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JOE Hockey seems to be enjoying getting on with the job in his position as treasurer, however long he may still have it.

Announcing a major crackdown on multinationals, the still-treasurer put on a strong performance, batting off questions about his tenure in the role, and refusing to comment on cabinet leaks.

I am not going to answer that question and no, no, I am not going speculate on it, he said when questioned whether Social Services Minister Scott Morrison might be elevated to the role.

The ABC this morning reported Scott Morrison had been offered the Treasury role, with Mr Hockey expected to be offered the Communications portfolio. But the positions have not yet been officially confirmed.

I am continuing to do my job to the best of my ability, Mr Hockey said.

He refused to comment on leaks about new Prime Minister Malcolm Turnbulls performance in his first cabinet meeting, or how he felt about the new leader.

I am instinctively a loyal person, you know that, and I see the job that I have as one of being loyal to the Australian people. Thats why Im doing my job, thats what Im here for, he said.

I have always been loyal to leaders and thats not going to change.

Keen to get on with the job amid speculation of a reshuffle, Mr Hockey announced he had introduced to parliament a package of draft laws to target multinational tax avoidance.

Despite Australia having some of the toughest tax laws in the world, a few multinationals continued to avoid paying tax on Australian profits, he said on Wednesday.

This undermines the public faith in the tax system and that leaves families and small businesses to unfairly carry the taxation burden.

His legislation would implement a new multinational anti-avoidance law, stronger penalties for large companies that engaged in tax avoidance and profit-shifting, and country-by-country reporting to give authorities a greater visibility into international structures.

The measures will apply to more than 1000 large multinationals operating in Australia with annual global revenue of $1 billion or more.

The treasurer also revealed he had ordered a number of foreign buyers of Australian real estate to sell their properties within a year.

Mr Hockey said the properties, in NSW, Western Australia, South Australia and Queensland, had values ranging from $265,000 to $8.1 million and involved buyers from Singapore, Indonesia, the United Kingdom and China.

The crackdown of the coalition government in relation to foreign investment continues, he said, adding there were more than 500 investigations underway into more than $1 billion worth of properties.

Mr Hockey indicated his willingness to continue in the role, admitting he could always do more to better sell his policies.

And you can always do more to strengthen the Australian economy, he said.

Labor says Mr Turnbull should be making a decision about who he wants as treasurer now, rather than waiting until the weekend. Opposition MP Ed Husic likened Mr Hockey to actor Bruce Willis in the movie Sixth Sense.

Hes talking in the parliament, hes getting impassioned, he wants people to listen to him and no ones paying attention, he told reporters.

Its like hes just standing there and no one notices hes there any more.

But Mr Hockeys assistant minister said it was right for Mr Turnbull to be taking his time to decide on his new frontbench.

It is absolutely appropriate ... and Im sure they will be very good decisions, Josh Frydenberg told Sky News.

Mr Hockey won high praise from his tax commissioner Chris Jordan for leading the international effort against multinational corporate tax evasion.

The treasurer should be acknowledged for his personal leadership of this issue, he said.