Confusion over cost of company tax cuts

The Turnbull government's company tax cuts will cost the budget $65.4 billion by mid-2027.

But confirming that figure took Labor a handful of questions to the Prime Minister Malcolm Turnbull and Treasurer Scott Morrison in parliament on Thursday.

Initially, Mr Turnbull - in answer to a question from Opposition Leader Bill Shorten - said the total cost of the 10-year plan was $26 billion.

Mr Morrison clarified that to say it was $36.5 billion although he also mentioned the figure $35.6 billion.

Later the treasurer said the cost over the "next" 10 years would be $65.4 billion.

Mr Turnbull attempted to unravel the confusion, saying the government's plan actually began in July 2016 and the total cost of legislated cuts over 10 years was $24 billion.

The cost of yet-to-be-legislated cuts - for companies with an annual turnover above $50 million - was $26 billion.

Put the two together and the total cost 10 years from now is $65.4. billion.

After that convoluted explanation, Mr Turnbull accused Mr Shorten of revealing his "desperate manner" of misrepresenting everything he was told.