Oil & gas profits need to be on tax table: Greens

In response to reports today that revenue from the Petroleum Resource Rent Tax is flat-lining despite the industry booming, Greens Treasury spokesperson Adam Bandt MP today called on the government to put resource taxation on the tax reform table.

Mr Bandt will write to Treasurer Scott Morrison to request the government’s tax green paper includes resource taxation.

“Today we’ve heard further reports of overseas companies ripping off Australians by aggressively minimising the tax that they pay,” Mr Bandt said.

“These gas companies are behaving like pirates instead of doing the right thing and making a proper contribution to the public purse from their super profits.”

“You can only dig up our resources and sell them once and the Petroleum Resource Rent Tax was meant to make sure that Australians get some benefit from the companies bringing in huge profits.”

“The reports today suggest concessions secured from Labor by the resources industry as part of the mining tax debacle is exacerbating the problem. Again we’re seeing the consequences of Labor having caved into a fear campaign run by the resource sector.”

“If the government says everything is on the table when it comes to tax reform, then they must put resource taxation on the table too.”

“I will write to Treasurer Scott Morrison requesting he include resource taxation in his upcoming tax green paper.”

Media contact: Adam Pulford, 0429 109 054