Increase the Petroleum Resource Rent Tax

Australians are missing out on a fair share of revenue while fossil fuel companies are making record profits and worsening the climate crisis.

The fact is the Australian government collects more money from students paying HECS than it does from gas companies paying the Petroleum Resource Rent Tax (PRRT).

The Petroleum Resource Rent Tax is broken. 

Australia Institute research shows that increasing the PRRT will raise billions of dollars in revenue that can be spent on essential public services and help Australia deal with the costs and impacts of the climate crisis, driven by Australia's massive fossil gas export industry.

The Parliament of Australia needs to urgently increase the Petroleum Resource Rent Tax.

Increasing the PRRT is necessary to ensure the Australian people get a fair share of the windfall profits from our own natural resources.

The PRRT is a tax on super-profits, sometimes called “resource rents”, made by multinational oil and gas companies operating in Australia.

These are profits well above the returns that could ordinarily be expected and result from global price increases rather than any change in productivity by the companies themselves.

The tax has extensive loopholes due to an extremely complex design that allows oil and gas producers to minimise— or avoid paying it altogether.

Proposed changes to the PRRT, limiting the extent to which gas companies can reduce their liabilities, are so incremental they were actually welcomed by the industry.

The Parliament of Australia needs to urgently increase the Petroleum Resource Rent Tax.

Add your name to the petition >

PRRT_Share.png

To the Parliament of Australia --

Australians are missing out on a fair share of revenue while fossil fuel companies are making record profits and worsening the climate crisis.

Failures and loopholes mean the Petroleum Resource Rent Tax is failing to collect reasonable levels of tax revenue from fossil fuel companies.

Current proposed changes to the PRRT, limiting the extent to which gas companies can reduce their liabilities, are so incremental they were actually welcomed by the industry.

The Parliament of Australia needs to act.

Repairing and increasing the PRRT is necessary to address this imbalance and ensure the Australian people get a fair share of the windfall profits from our own natural resources.

Australia Institute research shows that strengthening this tax will raise billions of dollars for essential public services and provide support as we deal with the increasing impacts of the climate crisis.

We urge you to amend and increase the Petroleum Resource Rent Tax to ensure it delivers for all Australians.

13,838 signatures
Goal: 15,000 signatures

Will you sign?

: :

:

:

:

:

: :

: :

:

:

: :

:

:

: :

Latest supporters

Daniela Gallo signed 2024-04-16 16:15:11 +1000
Marianne Lee signed 2024-04-16 14:03:36 +1000
Connor Sweeney signed 2024-04-16 08:49:28 +1000
Libby Porter signed via Bernd Heubeck 2024-04-15 15:43:35 +1000
Mitchell Hand signed 2024-04-15 08:56:08 +1000
James Keski-Nummu signed 2024-04-15 08:26:49 +1000
Sally Fisher signed 2024-04-14 20:39:44 +1000
Chara Meredith signed 2024-04-14 16:14:59 +1000
Bettina Bettington signed 2024-04-14 13:16:39 +1000
Bernd Heubeck signed 2024-04-14 12:15:15 +1000
Christian Taylor signed 2024-04-14 10:45:57 +1000
Anthony Doig signed 2024-04-14 10:33:53 +1000
Dale Butler signed 2024-04-14 08:52:12 +1000
Megan Kwee signed 2024-04-14 07:23:17 +1000
Klaire Somoray signed 2024-04-14 02:34:06 +1000
Yana Wilson signed 2024-04-13 21:01:47 +1000
Zachariah Keirsten-Wakefield signed 2024-04-13 10:56:32 +1000
Jambo Coles signed 2024-04-13 02:32:40 +1000
Kevin Clark signed 2024-04-12 14:09:46 +1000
Ronald Cronin signed 2024-04-12 14:02:38 +1000
Michael Clarke signed 2024-04-12 13:29:27 +1000
Peter Eggler signed 2024-04-12 10:03:28 +1000
Alison Gibberd signed 2024-04-12 09:24:20 +1000
Ros Blackwood signed 2024-04-12 06:46:55 +1000
Katrin Gustafson signed 2024-04-12 05:03:36 +1000
douglas miller signed 2024-04-12 04:47:07 +1000
Jennifer Strauss
Jennifer Strauss signed 2024-04-11 23:43:08 +1000
Andrew Dillon signed 2024-04-11 22:11:00 +1000
Peter Liversidge signed 2024-04-11 21:56:16 +1000
Sher Canny signed 2024-04-11 18:59:12 +1000