Gas Companies In Australia Pay Bugger All Tax
Many Australians are becoming aware that gas companies in Australia pay bugger all tax. This situation is pretty incredulous. Santos has not paid any corporate tax for 10 years, whilst it has generated revenue in excess of $50 billion. In addition, the PRRT does not raise much revenue from LPG in Australia because of the way it is structured.
Indeed, even more amazingly the royalties paid to the states on LPG is proportionately underwhelming as well. Gas is ripping off Australia!
PRRT Raises Very Little From Gas Industry In Australia
Aussies who study higher education contribute more than double the amount of revenue to the federal government annually than the gas industry does. Losing gamblers in WA and Queensland pay more in gambling taxes than the gas sector pays in taxes. It begs the important question – why is this so? I am waiting for a government resource minister to tell me why this is? Indeed, I am waiting for the PM to tell me why this is so? Could it be to do with the fact that every resource minister from the last 20 years bar one has gone to work in the mining industry post-political career? Corruption via the revolving door is endemic downunder. Donations to political parties from this sector are also constant and this lacks scrutiny too. Gas companies in Australia pay bugger all tax. Why????
Gas Companies Pay Far Less Royalties Than You Might Imagine
Gas Companies and Australian governments are treating us all like idiots. It is about time that we start asking for answers and solutions to this huge black hole problem. We could be raising about $15 billion per year if we taxed the gas companies properly. To make matters worse, we are paying really high prices for gas domestically. Indeed, it is killing our manufacturing industry. Australia is one of the largest nations exporting LPG and Australians are not benefitting from this at all. It is a ridiculous situation and it is about bloody time that this Labor government did something about this exploitation of our resources by foreign multinationals.
Gas Is Taking The Piss, Australia
The gas sector does not employ a lot of Australians. More Aussies work at Bunnings. There is no rational justification for the current financial arrangements with these gas companies. Yes, GDP figures look good, but bugger all of those billions benefit Australians. We are, in reality, fools and soft targets for a rapacious foreign owned sector. Dumb Australians or corrupt ministers or a combination of both are making us all look like gullible morons.
We need to make this $15 billion eye sore a priority. Talk to your MP about it, ask questions and demand answers. Gas companies in Australia pay bugger all tax, so, let’s do something about it, before it is too late. Resources once they are gone, are gone forever.
Zombie Neoliberalism
“Paul Keating tells us that Australia is on its way to becoming the unofficial 51st state of America. The former PM is not being complimentary in his assessment of our current defence policies when saying this. No, Keating is issuing a warning about our docile behaviour in this space. The truth is that Australia does follow the United States in many ways when it comes to economic and political trends. Especially, those on the conservative side of politics are constantly looking to take our country down well-trodden American roads. Financialization and zombie neoliberalism is where the US finds itself with private equity investment firms gobbling up all areas of life and business in America.”
Robert Sudha Hamilton is the author of What Price Life?; The Stoic Golfer; Money Matters and America Matters: Pre-apocalyptic Posts & Essays in the Shadow of Trump.
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