The Great Gas Rort: Fixing the Petroleum Resources Rent Tax
Every year, the Commonwealth collects more revenue from HECS than it gets from the Petroleum Resource Rent Tax. The PRRT is so weak that gas companies love it!
Mark Ogge explains the Government’s proposed changes, and how we can fix it to tax our gas companies fairly.
This was recorded on Tuesday 6th February 2024 and things may have changed since recording.
australiainstitute.org.au // @theausinstitute
Guest: Mark Ogge, Principal Advisor, the Australia Institute // @MarkOgge
Host: Ebony Bennett, Deputy Director, the Australia Institute // @ebony_bennett
Producer: Jennifer Macey // @jennifermacey
Edited by: Emily Perkins
Theme Music: Pulse and Thrum; additional music by Blue Dot Sessions
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Yes, the government collects more money from HECS than it does from the petroleum resource rent tax.
We need to tax things we want less of and subsidise things we want more of. Right now with PRRT and HECS, we’re doing it the wrong way round.