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Politics

Jacob Shteyman

Small beer: revenue from gas export tax set to plummet

Labor David Pocock Petroleum

Income from the petroleum resource rent tax has been revised down for the current financial year. (Richard Wainwright/AAP PHOTOS)

Australia's gas export tax take is set to crater, despite a surge in liquefied natural gas prices driven by the Iran war.

Higher commodity prices are set to boost company tax receipts by $6.7 billion in 2026/27, according to fresh estimates released in the federal budget on Tuesday.

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