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The Latest Breaking News from PRRT

Labor and Greens gag debate on fuel efficiency standards in deal on offshore gas bill

Procedural moves outrage Coalition, independent MPs and senator David Pocock, who says government ‘selling us out’

The Guardian - AU

Jim Chalmers’ lucky budget surplus is no comfort to workers whose pay is shrinking

It’s hard to get excited about Myefo figures when median earnings fell, stage-three tax cuts remain sacrosanct and there are no new measures to relieve cost-of-living pressures

The Guardian - AU

Plibersek can’t say why Woodside gets a free pass to dodge petroleum tax

The PRRT hasn’t raised a dime yet, and reforms happen to exclude a major project from Australia’s biggest liquid natural gas producer.

Crikey

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read the most diverse news in one place.

Angus Taylor signals Coalition may reject Labor changes to petroleum resource rent tax

Move may mean government must deal with Greens to pass PRRT reforms as shadow treasurer warns against gas industry’s ‘death by a thousand cuts’

The Guardian - AU

Billions more in petroleum resource rent tax? That’s really just spin

What was touted as a crackdown on big gas doesn’t add up to much when the numbers are crunched.

Crikey

Do the PRRT changes in the budget go far enough to fix a 'broken' Petroleum Resource Rent Tax?

Economists and energy experts say the government is short-changing Australians with planned changes to the Petroleum Resource Rent Tax that will only raise an additional $2.4 billion over five years.

ABC News

Michael Pascoe: Hiding in plain sight, Labor commits to further big fossil fuel projects

The Albanese/Chalmers government went ever so gently with the gas industry because it hopes for more big new fossil fuel extraction projects.

The New Daily

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What Australia's new gas tax will mean for new projects, the economy and the climate

Treasurer Jim Chalmers has announced higher taxes on gas industry profits, which he says will give Australians a “fairer return” on their natural resources.

The Conversation

Labor’s changes to gas tax will deliver little if any extra revenue, analysts say

Greens label move as ‘less than the bare minimum’ while Monique Ryan says Australia remains a ‘global laggard’ on taxing industry

The Guardian - AU

Fears relief could add to inflationary pressures – as it happened

This blog is now closed.

The Guardian - AU

Tasmania pushing to fast-track new AFL stadium; Chalmers slip hints at budget surplus – as it happened

This blog is now closed.

The Guardian - AU

Millions to receive up to $500 in energy bill relief at federal budget, as Treasurer flags broader cost of living support

In this week's federal budget, up to $500 in assistance will go to millions of households to help pay energy bills as part of a wide-ranging cost of living package.

ABC News

Federal budget: Labor to collect billions more in petroleum resource rent tax

Treasurer Jim Chalmers and finance minister Katy Gallagher announce changes ahead of budget tipped to be at or near surplus

The Guardian - AU

Tax shield on super gas profits leaves Australians looking like 'chumps', economist says

It was once described as world-leading, but calls are growing louder for changes to Australia's super gas profits tax amid claims it is collecting "beer nuts".

ABC News

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ABC News

Tax from gas industry forecast to double as industry pushes back on calls for tax changes

Economists say gas producers have got off too easy for too long when it comes to tax but the industry itself is fighting to stave off change.

The New Daily

Michael Pascoe: The darling buds of May promise the flowering of reforms

There are drums beating in the policy jungle that the first days of May might see Australia commit to taking on necessary economic reform.

The Guardian - AU

From stage-three tax cuts to welfare relief: what’s on Australia’s 2023 budget wishlist?

Jim Chalmers is under pressure to deliver for those doing it tough – but inflation and national debt pose serious obstacles

The Guardian - AU

Changes to petroleum resource rent tax estimated to net Australian government $94.5bn

Greens to use Parliamentary Budget Office costing to push Labor to clamp down harder on tax concessions for gas producers

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Crikey

Latham marked for life

NSW One Nation Leader Mark Latham has been slammed by all and sundry over a ‘disgusting’ homophobic tweet, and patients have been denied nearly $4 billion in Medicare rebates.

ABC News

The federal government already has a windfall tax on gas profits. But while gas prices soar, is the tax doing its job?

Australia is one of the world's largest LNG exporters, and those companies selling gas to the world are in a prime position to capitalise. So how much are Australian taxpayers making from the sale of Australian gas?

The Guardian - AU

Almost a third of Australia’s large companies pay no income tax

Tax Office finds more than half major mining, energy and water companies paid nothing in 2020-21, a three-year high

Crikey

Why isn’t Labor fixing fossil fuel taxes? Because of bad memories and bad politics

While voters cop higher energy prices, resource companies are pocketing billions. Labor needs to act, but remains scarred by the past.

The New Daily

Michael Pascoe: The budget without reply

Next Thursday the Sydney Liberal Party faithful are being invited to pay $880 a seat for lunch and to listen to a budget reply.

Crikey

Petroleum Resource Rent Rip-Off — fossil fuel rent taxes to fall amid global price surge

Like the Coalition before it, Labor refuses to do anything to fix the broken PRRT scheme.

ABC News

How your spiking energy bills are making foreign investors rich

Australia's oil and gas resources are overwhelmingly exploited by global multinationals and most of these corporations pay no tax.

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