The Prime Minister is currently embroiled in a bitter spat with the Competition Commission over a $100,000 advertising deal he struck with G2.
The Commission, in an order on Wednesday, said it would fine G2 $100m for breaching its advertising terms, and the Prime Minister was entitled to demand a review of the agreement.
“This order will require G2 to pay an amount equivalent to the fair market value of the advertising and other costs of its breach of the Australian Competition and Consumer Act 2010, as determined by the Commission in accordance with the Administrative Procedure Act,” it said.
It added that the penalty should be set at $100 million, “subject to adjustment” if G2 “is found to have breached the Act”.
The order has already led to a backlash, with some in the Prime Minster’s own caucus calling for the Prime Ministers office to be stripped of its superannuation entitlements.
Mr Turnbull told reporters on Wednesday the Coalition would not back down and would continue to fight the case.
“I’m happy to be challenged,” he said.
“We will fight this case.”
G2 has until Thursday to respond to the order, and is due to appear in court on Friday.