✍️ SIGN: Demand the gas industry pays its fair share. Fix the PRRT!
In Australia, the gas industry is failing to pay its fair share.
In fact, Australia collects more money from students, nurses and teachers than from the Petroleum Resources Rent Tax (PRRT) – the tax on the super-profits of oil and gas companies.
The tax has extensive loopholes allowing oil and gas producers to minimise or avoid paying it altogether. It means in Australia the government collects more money from students, nurses and teachers than from gas companies paying this tax on their profits.
The PRRT is broken – and it needs to be fixed.
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.
We’re calling on the Australian Government to urgently increase the Petroleum Resource Rent Tax.
✍️ Add your name calling for oil & gas multinational corporations to pay their fair share.
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.