I agree.And the Comm collects very little Offshore PRT...

  1. 23,205 Posts.
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    I agree.

    And the Comm collects very little Offshore PRT anyway
    because Woodside and others have cut deals whereby
    they don't pay any PRT until they have recovered their
    initial investments with interest.

    For example Shell doesn't pay tax until 2026; some 30 years
    after its original investment and 15 years post revenue stream.

    https://hotcopper.com.au/data/attachments/6369/6369107-913b298fd146f7781a9f3bed30485105.jpg
    Given that the Comm Government earns bugger all PRRT , then
    one has to assume that the Howard Government was primarily
    acting deviously in the interests of Woodside and the associated
    Multinational Oil Companies and against the interests of East Timor.

    PRRT= Petroleum Resource Renta; Tax which only applies to
    offshore resource exploitation; onshore is the responsibility of the States.

 
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