James Packer's Consolidated Press Holdings is among about 700 private companies that are excluded from having their tax details published by the Tax Office under draft laws released by the Abbott government.

The government has released draft legislation for consultation, after Assistant Treasurer Josh Frydenberg revealed this year that about 700 private companies will be excluded from tax disclosure laws introduced by the former Labor government.

Public companies with more than $100 million turnover will still be required to report taxable income. Credit:Reuters

Public companies with more than $100 million turnover will still be required to report taxable income, total income and tax paid.

On Thursday, Treasury released the government's amendment to Labor's laws to exclude Australian-owned private companies from its scope. Private companies that will now be exempt, apart from James Packer's, also include Adelaide Airport.