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The Latest Breaking News from PRRT

Pressure to fix gas tax raising less revenue than beer

Senator David Pocock will ramp up pressure on the government to re-examine a fossil fuels tax that raises less money than beer thanks to a "fatal mistake".

AAP

PM declines to comment on reports of other attacks orchestrated by Iran; Israel praises Australia for ‘principled stand’ – as it happened

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The Guardian - AU

Australia budget 2025: the seven graphs you need to see

These are pure Labor tax cuts – just what the ALP should be all about – but why are we still letting gas companies get off scot-free?

The Guardian - AU

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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

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

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

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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

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

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The Guardian - AU

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

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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

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ABC News

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

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

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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

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

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.

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.

The New Daily

Michael Pascoe: Mates rates, or how the Coalition sat on a $100-billion gas-tax rort

Treasury officials are "briefing the new government on a number of matters, including the PRRT gas transfer price review”.

The Guardian - AU

Overhaul on offshore gas mega-projects could reap almost $90bn in decade

Greens release costings to support 10% levy as part of policy package to increase tax on big companies and super-rich

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