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.

14,795 signatures
Goal: 15,000 signatures

Will you sign?

: :

:

:

:

:

: :

: :

:

:

: :

:

:

: :

Latest supporters

Lee-Anne Molony signed 2024-04-24 21:20:36 +1000
Jenny Forster signed 2024-04-24 21:12:15 +1000
Maureen Doyle signed 2024-04-24 21:03:33 +1000
Amanda Sutherland signed via Cath Murray 2024-04-24 20:47:04 +1000
Sarah Avery signed 2024-04-24 20:45:43 +1000
Dan Victor signed via Heidi Berger-Bartlett 2024-04-24 20:45:05 +1000
Paul Whiting
Paul Whiting signed 2024-04-24 20:41:31 +1000
Debby Myers signed 2024-04-24 20:35:20 +1000
Naomi Seng signed via Ann Huynh 2024-04-24 20:29:47 +1000
Paul Hallett signed via Eri Kashima 2024-04-24 20:28:10 +1000
Eri Kashima signed 2024-04-24 20:20:45 +1000
Meagan Mannix signed 2024-04-24 20:18:41 +1000
Sara Gerdsen signed 2024-04-24 20:17:14 +1000
Hein Lambrechts signed 2024-04-24 20:14:05 +1000
Ben McGowan signed via Mitch Morfea 2024-04-24 20:11:57 +1000
Louise O'Neil signed 2024-04-24 20:09:37 +1000
John Stephens signed 2024-04-24 20:01:23 +1000
Angela Hill signed via Wendy Tubman 2024-04-24 19:59:00 +1000
Matt Arbon signed 2024-04-24 19:54:41 +1000
Selma Richter signed 2024-04-24 19:43:29 +1000
Carmel Noyce signed 2024-04-24 19:43:26 +1000
Sarah Smith signed 2024-04-24 19:23:06 +1000
Carol Lee signed 2024-04-24 19:22:08 +1000
Ayman Seror signed 2024-04-24 19:17:12 +1000
C S Hughes signed 2024-04-24 19:15:14 +1000
Toni Robertson signed 2024-04-24 19:11:04 +1000
Lucas Wilson Harrison signed 2024-04-24 19:00:10 +1000
Petrina Slaytor signed 2024-04-24 19:00:04 +1000
Ron Jones signed 2024-04-24 18:37:08 +1000
Jillian Verhardt signed 2024-04-24 18:26:51 +1000