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Articles on Petroleum resource rent tax
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Changes to the petroleum resource rent tax (PRRT) are long overdue, but Labor’s modest attempt at reform represents a missed opportunity.
Grattan Institute estimates point to deficits without end, growing with the need for greater spending on health, defence and natural disasters. We’ve presented the treasurer with 13 costed options.
Australia already imposes a super-profits tax of 40% on gas producers, but very little is paid. Yet we know how to simplify the system, so we’re not gifting billions to multinational companies.
Australia gets less from the petroleum resource rent tax than it did 20 years ago when exports were small.
Top contributors
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Professor, Deakin Law School, Deakin University
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Adjunct Senior Research Fellow, Business Law and Taxation Dept, Monash Business School, Monash University
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Professorial Fellow, University of Canberra
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Deputy Program Director, Budgets and Government, Grattan Institute
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Chief executive officer, Grattan Institute
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Visiting Fellow, Crawford School of Public Policy, Australian National University
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Fellow, Grattan Institute
