The scheme was designed to be remarkably generous, with interest of up to roughly 18 per cent applied to different elements of a project's costs, and allowed to compound.
With the PRRT's deductions scheme in place, there have been suggestions the project may never pay the resources tax.It seems increasingly likely the PRRT is set to change, in an effort to capture some more tax revenue from the sector. The Morrison government ordered its own review of the PRRT in 2017, and made a few changes basically reducing the deductions available — but they only applied to new projects, not those already underway and benefiting from the current boom.
So gas is becoming expensive Lets tax it more so prices increase even sharper as gas suppliers try to recoup their losses. Lets hurt small business, the working class and those with mortgages even harder Enjoy the kill the poor ride that is the climate scam
What tax
that would be correct, it is not working. There is evidence that a reservation policy, price caps and a far higher rate of tax is workable - Norway. Only Australia would be dumb enough to let this mess continue. For australianlabor this is a monumental test. auspol ausbiz
Charge a wellhead royalty and let them credit it back against the prrt, when/if paid.
Last week in Perth Chalmers said he’d referred this to Treasury. No balls, just do it.
Cut the augmentation rates and back date the cut to 2005 - catches Ichthys, Prelude, Gorgon, Wheatstone and reduces their compounding. No carry forward past year 10 on historical exploration. Get real people…
Taxes can always be avoided so long as they are charged on profits. The only way to prevent taxes being avoided is to charge them on turnover. Simple really.
Regulate prices. Taxing steadily increasing prices that have no merit swells Government’s coffers. It doesn’t remove any strain from users.
How about Australia purchasing it's domestic gas before it puts it on the international market. We are the only gas producing country in the world purchasing at international prices.
Taxes work just fine It's government spending that's out of control.
the resource rent tax is not working
why do our governments write contracts that exclude the domestic users...........quick money?
Australia remains a colony of US and UK. Our masters have created the perfect system to steal from the masses. We will continue to see a rise in: homelessness, food banks, deterioration of public healthcare, education and welfare system Crime rate will rise and police state
It can’t be right then! They need investigating.
But gas companies donate to both political parties, ensuring this won't happen
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