The evidence is now in. Australia's Petroleum Tax is giving away resources to Multinationals for free.
Shortly, Australia will overtake Qatar as the world’s biggest gas exporter. Qatar collects $26.6 billion in federal royalties from their gas exports every year – yet Australia’s Petroleum Resource Rent Tax (PRRT) will see no revenue from LNG for decades, if ever.
The case for reforming taxes covering oil and gas multinationals has never been clearer.
With the government handing down the budget in May, we have a window of opportunity to pressure both our local MPs, and the Treasurer Scott Morrison, to ensure that multinational corporations pay their fair share for our natural resources, and that Australia reaps the benefits from the coming gas boom.