Maybe you could explain how the petroleum industry is being subsidised first? Otherwise they probably wouldn’t understand the question.
~42cpL fuel excise ~15cpL GST (4.2cpL being a GST on the excise!) >$1Bpa PRRT for Australian produced oil + ??? state royalties
plus of course all the normal company, stamp duty, rates, land taxes and payroll taxes.
Personally I can’t think of a more heavily taxed industry in Australia. Please enlighten me on how the oil industry is being “subsidised”.
Maybe consider the current subsidies in place for EVs in Australia by comparison (no excise, no GST on electricity, reduced/eliminated luxury car tax, various solar incentives, etc). The Fed and state Govts should be thinking about how they replace this revenue as the economy moves towards EVs.
Please think before posting.
PLS Price at posting:
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