Treasurer Jim Chalmers’ hopes of raising an extra $2.4 billion from the oil and gas industry are under further threat.
through changes to the PRRT after years of investigation by Treasury and the Morrison government.
But Bandt said details of the Treasury report used to support the changes showed they carved out a special arrangement for the North West Shelf, which is part-owned by five energy firms including operator Woodside. “Instead of making big gas corporations like Woodside pay their fair share of tax, Labor’s giving them a free pass.”A Woodside spokesperson said the company was a significant taxpayer, shelling out $2.7 billion in Australian tax and royalties last year of which $720 million was in PRRT and $926 million in federal royalties and excise.
While the Greens are demanding an expansion of the tax, the Coalition – which initially signalled opposition to the government’s changes – has suggested it could support Chalmers’ proposal in return for a streamlining of gas project approvals.
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