Turnbull brushes off Panama papers links

PRIME Minister Malcolm Turnbull has rebuffed Labor attempts to discredit him over his investment in a company that is listed in the Panama Papers.

Mr Turnbull and the late former New South Wales premier Neville Wran both held shares in the company, Star Technology Systems Ltd, for about two years to September 1995.

The company was incorporated by Mossack Fonseca - the Panamanian law firm from which 11.5 million documents, related to more than 210,000 offshore entities, were leaked.

Mr Turnbull said yesterday that there was "no suggestion of any impropriety whatsoever" on the matter. He said had the company made any profits - which it "regrettably" did not, it would have paid tax in Australia.

Opposition Leader Bill Shorten said he believed Mr Turnbull had more questions to answer about his investment, and the PM's comments were not "a full explanation".