The Japanese Government makes more revenue taxing Australian gas than the Australian Government does taxing our exporters. What’s the scam?
The scam is our gas exports not only keep domestic prices high for Australian electricity consumers, but our failure to impose decent taxes on our (foreign) gas exporters delivers benefits Japanese taxpayers.
The Australia Institute (TAI) reports, “On average, every year, $1.8 billion of Japan’s energy import tax comes from gas imports, substantially more than the $1.4 billion raised by the Australian Government’s Petroleum Resource Rent Tax (PRRT).”
TAI’s Richard Dennis told the Senate Gas Inquiry Committee today, “Australians have been taken for mugs by the gas export industry. And while successive Australian governments have been responsible for causing this mess,
it is the Albanese Government that is responsible for fixing it.
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Kim Wingerei is a businessman turned writer and commentator. He is passionate about free speech, human rights, democracy and the politics of change. Originally from Norway, Kim has lived in Australia for 30 years. Author of ‘Why Democracy is Broken – A Blueprint for Change’.