The Coalition did not receive any advice from security agencies before agreeing to shield 700 of the nation's largest private companies from disclosing their tax affairs on the basis that the information could endanger the personal security of the wealthy individuals behind them.

The Abbott government's plan to rescind parts of Labor's tax transparency laws was justified in large part on the fears of company owners that they could be targeted for kidnap and extortion if they were forced to divulge how much tax their companies pay.

Assistant Treasurer Josh Frydenberg. Credit:Sean Davey

But documents requested under Freedom of Information show Assistant Treasurer Josh Frydenberg did not ask for or receive any advice from the government's own security experts, including the Australian Federal Police, to confirm those fears were real.

University of NSW financial disclosure expert, accounting lecturer Jeffrey Knapp, has called the decision "the stupidest excuse for non-disclosure I've ever heard".