What is the PRRT?

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The Petroleum Resource Rent Tax is broken.
The fact is the Australian government collects more money from students paying HECS than it does from gas companies paying the PRRT.
Digital Content Producer Elinor Johnston-Leek explains.
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Опубликовано:

6 май 2024

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Комментарии : 35

@pmcamacho6447 Месяц назад

Thanks for continuing to provide analysis with integrity Australia Institute

@TheAusInstitute Месяц назад

Add your name to the open letter calling for an increase in the PRRT! nb.australiainstitute.org.au/increase_the_prrt

@serena-yu Месяц назад

There was an error with your petition page. It stays on "Saving..." forever and emits browser errors.

@TheAusInstitute Месяц назад

@@serena-yu I just signed myself and it worked for me, maybe try again a bit later or refresh your browser? Thank you for your support either way :)

@MikeKing-cj9cx Месяц назад

I have signed the partition but I do not see why the govt does not do anything about this by default?! Likewise with the subsides to the fossil fuel companies, does the govt seriously need the public to sign partitions pointing out the injustice.

@tomglenn485 Месяц назад

Just a small niggle, could you guy's please do a shot of the book shelves so I can read the tiltles... cheers blokes luv the work.

@dodgygoose3054 Месяц назад

I really hope you guys put all this all on Tick tock ... (In Millennial terms) PS this presenter is brilliant, intelligent is great but intelligent & beautiful is perfect for media.

@Neil-yg5gm Месяц назад

""The fossil fuel industry lobby, the Australian Petroleum Production and Exploration Association (APPEA), estimates the gas sector will pay nearly $14 billion to state and federal governments in the 2022-23 financial year.

@pmcamacho6447 Месяц назад

@@Neil-yg5gmand the federal and state governments subsides their activities by how much?

@Neil-yg5gm Месяц назад

@@pmcamacho6447 ""and the federal and state governments subsides their activities by how much?"" Don't know, you tell me. And i would not trust you or the AI.

@dodgygoose3054 Месяц назад

@@Neil-yg5gm which is way less than what the Saudis receive from exporting less... Australians are getting ripped off... Corporation's are laughing at us all the way to the bank.

@jinnantonix4570 Месяц назад

@@pmcamacho6447 the AI claims that FF subsidies are $11B pa, but that has long been debunked. The liquid fuel excise rebate is not a subsidy.

@RedFrog_191 24 дня назад

Why won’t the government do this? I don’t understand why they don’t :(

@australiansausage2727 20 дней назад

As Mr Crabs once said 'Money'

@RedFrog_191 20 дней назад

@@australiansausage2727 but wouldn’t the government make more money from taxing these companies

@benrose2695 Месяц назад

In my view the PRRT is a crock and impossible to make fair in the short to medium term. I think the answer is to add a modest resource levy like for any other mineral - every cubic metre extracted is charged a levy. On Australia' s 2022 gas production of 150 billion cubic metres, a levy of 2c/ cu m would raise about $3 billion in revenue. This would be less than 5% of value at $12 per GJ (0.47c/ cu m).

@gerardbiddle1808 Месяц назад

💥💥💥💥💥👍👏🌹

@pmcamacho6447 Месяц назад

@Neil-yg5gm I'd trust the Australia Institute before I'd trust you or the APPEA.

@darthex0 Месяц назад

Agree? Nationalise!

@Wayne-ig1il 15 дней назад

Australia people are getting ripped off

@Neil-yg5gm Месяц назад

Firstly you want to get rid of gas. Coal as well. And secondly you are wrong ""The fossil fuel industry lobby, the Australian Petroleum Production and Exploration Association (APPEA), estimates the gas sector will pay nearly $14 billion to state and federal governments in the 2022-23 financial year.

@a0th1ef15 Месяц назад

Good.

@pmcamacho6447 Месяц назад

I'd trust the Australia Institute before I'd trust you or the APPEA.

@strikeforce448 Месяц назад

Neil. Why do you believe the lobby group whose sole purpose is to maximise profits and minimise taxes for the fossil fuel industry over a public think tank that advocates for public policy that benefits consumers and citizens over tax avoiding multinationals that pay a lower tax rate than you on ever increasing profits from our finite resources?

@Markyeef Месяц назад

At least at 2019, the gas sector was generating approx. $60b AUD in revenue annually, which should have generated Aus about $12b AUD in PRRT, however that year the gas sector paid just under $1b AUD in PRRT, around $960m... APPEA estimates the gas sector 'should' pay around $14b in 22-23 financial year as the sector is generating approx. $70b in revenue, however, as explained in this video, it's unlikely that we will see anywhere close to that.

@Neil-yg5gm Месяц назад

@@Markyeef I am not knowledgeable in this field but they pay Company tax as well. But also this. They would have large deductions ""APPEA head Samantha McCulloch said the industry was on track to recover the $300 billion it has invested in gas projects since 2010.

@Wayne-ig1il Месяц назад

🦞Not for the marine life.seismic blasting kills recruitment up to 1’2kms from blast that goes off every 10 seconds 24 hours a day for months on end 🐙🐬🐳🦑🐢🐠🦀