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More from this Tax Bill:The fact that Australia is now the...

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Apolloz

1,079 Posts.

137

18/03/24

13:58

Post #: 72941363
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More from this Tax Bill:

The fact that Australia is now the world’s largest exporter of LNG underscores the
increasing significance of the Callaghan Review’s finding, and thus the central premise
of this Review: to advise on options for ensuring the PRRT’s application to integrated
LNG projects is fit-for-purpose into the future.

Originally posted by Apolloz: ↑

House is debating the Treasury Laws Amendment (TAX ACCOUNTABILITY AND FAIRNESS) BILL 2023

https://parlinfo.aph.gov.au/parlInfo/download/legislation/ems/r7107_ems_cd4d34d0-6892-41e0-8d14-1b62e0e316f5/upload_pdf/JC011436.pdf;fileType=application%2Fpdf#search=%22legislation/ems/r7107_ems_cd4d34d0-6892-41e0-8d14-1b62e0e316f5%22

In this bill there is this: Chapter 5: Petroleum Resource Rent Tax (PRRT) where they are changing the PRRT to GET more taxes on GAS!

Forgetting the fact the Govt is looking for more income from LNG - on Page 85 of this Tax Bill says this (final paragraph):

There have been significant developments in global energy markets and local energy
demand since the commencement of the Review, including the increasing importance
of gas in supporting the transition to low-emissions energy generation and the changing
role of LNG in supplying gas to Western Australia and the Northern Territory

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BPH Price at posting: 2.2¢ Sentiment: Hold Disclosure: Held
3 Upvote

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