#prrt — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #prrt, aggregated by home.social.
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Norway has a $3.2 trillion sovereign wealth fund — more than $500k per citizen — built on a 78% petroleum tax and the simple principle that resources belong to the public. Australia had a mining boom too. We got a baby bonus, some tax cuts, and a prime minister knifed by a $22 million industry ad campaign. The PRRT now collects less revenue than the beer tax. Less. Than. Beer. Albanese has ruled out any gas export tax changes, of course. Because why would we want Norway's problem of being obscenely wealthy?
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Nationals senator Matt Canavan and LNP's Lou O'Brien tried to defend foreign gas companies and trash David Pocock in their own social posts, only to get absolutely demolished in the comments by their own voters demanding the 25% gas export tax Albo refuses to pass — the same tax that would return $17 billion to Australia every year.
#gaxtax #prrt #gas #gaslevy #gaslobby #auspol #santos #chevron #taxgas
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Australians are losing out to the gas export scam.
Australia Institute research shows that beer drinkers pay more tax than gas export companies pay in PRRT.
Meanwhile, multinational gas companies get 56% of our gas exports for free.
Since our governments allowed these gas exports, our gas bills have tripled and our electricity bills have doubled.
Big gas is taking the piss and Australian governments are letting them. It has to stop.✍️ Add your name to the petition
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@earthmothering9 For decades, mining giants extracted billions from Country while Traditional Owners were expected to be grateful for scraps. Good to finally see the Yindjibarndi people win recognition and compensation after standing up to one of Australia’s richest corporations. Justice should never depend on how long communities can afford to fight.
#yindjibarndi #firstnations #auspol #mining #socialjustice #prrt #greed
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Australia Institute research shows that Japan collects more tax from Australian gas than Australia.
Japan, a country with no gas, oil or coal reserves of its own, collected almost $40 billion over the last five years while the Australian PRRT provided only $7 billion to Australians.
✍ Join 95,000+ Australians and sign the petition demanding gas companies hand over our fair share now!
#taxgas #prrt #gastax #gas #gaslobby #auspol #gascartel
https://nb.australiainstitute.org.au/fix_gas_export_problem_b?
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@ApaulD
Excellent. Watched the whole thing & he nailed it. His last point, that politicians should NOT take jobs in the industries they regulate, who could disagree with that? Also loved Richard Dennis’ killer line that gas companies pay more in PR than they do in PRRT (the gas windfall profits tax). All that wining & dining & political donations don’t come cheap either… they’re playing us for mugs. -
@gusseting Funny how the best way to 'save the planet' and protect our kids is apparently letting Santos & co. keep pocketing $47 billion in revenue with basically zero company tax for a decade.
Ken Henry says hit the war-driven windfall profits with ~100% tax instead. That money could actually fund the transition, hospitals, or schools — rather than just foreign dividends while Aussies pay sky-high bills.
Or we could keep the current 'give it away tax-free' model and feel virtuous about the hottest summers. Your call. #prrt #gas #auspol #gastax -
If #Albo really wants a legacy, it won’t come from another landslide, it’ll come from finally making the gas giants pay their share. With energy prices soaring and foreign‑owned exporters paying next to nothing for Australian resources, a 25% gas export tax could fund childcare, dental care, and real cost‑of‑living relief. The move would expose the gap between Hanson’s rhetoric about ordinary Australians and her alignment with billionaire interests. This is Labor’s moment to show what democracy can deliver for people, not corporations.
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How stupid is the Australian government? THIS stupid!
#Australia #AnthonyAlbanese #resourcetax #PRRT #FossilFools #globalwarming #climateemergency #environment
https://thepoint.com.au/explainers/260323-the-case-for-a-gas-export-tax-explained -
RE: https://newsie.social/@ZhiZhu/116286411303642681
This is exactly what happens when corporations run a nation.
Massive welfare for the rich — trillions in bailouts, subsidies, tax loopholes and sweetheart deals — while they pay basically zero effective tax. The result? A country bled dry, with working people left holding the bag for endless deficits and crumbling services.
Sound familiar, Australia? Our mining multinationals, Big Tech giants and foreign-owned energy firms do the same thing here: rake in billions from our resources and markets, dodge tax through havens and loopholes, then lecture us about "budget emergencies" when it's time to fund Medicare, NDIS or affordable housing.
Corporate capture isn't just an American disease — it's global. Time to tax the bastards properly and put people and planet before profit.
#ClassWar #TaxTheRich #Auspol #gas #gastax #gastaxnow #prrT -
@leechindustries
The point was never beer tax. The point is why ordinary consumers reliably pay up, while the PRRT somehow manages to underperform in a country swimming in LNG profits. -
We are one of the world’s biggest gas exporters, yet the federal government collects more from taxing beer drinkers than from the Petroleum Resource Rent Tax on offshore gas. Ordinary Australians pay more for a slab than multinationals pay for extracting our shared resources. If that is not a broken system, what is? Time for a proper inquiry and a fair return to the public.
#taxjustice #auspol #prrt #fairshare #costofliving #energyprofits
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There's no way the major parties will allow this to happen, because they don't want rocks turned over that might show where the money for donations comes from and why we're failing to tax resource extractors properly. But, suffice to say, Senator David Pocock is both right here, and has become a first class troll of the major parties. He's an itch they hate having to scratch and he won't go away because they have nothing he wants - he's there for the people, not for power.
https://www.davidpocock.com.au/new_senate_inquiry_proposed_to_examine_the_great_gas_giveaway
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This PRRT mess? Blame the Howard Coalition gov. In 2004 they gifted gas giants a 150% uplift on exploration deductions—letting them rack up massive carry-forward credits that wipe out super-profits tax for decades. Result: LNG boom, but zero/few royalties + minimal PRRT while we export billions.
Hawke/Keating set PRRT up fairly in '87; Howard handed multinationals the keys to dodge it. Time to reverse the corporate welfare & tax our resources properly—like Norway does. -
Aussies are stunned: Treasury just confirmed we’ll rake in $2.7B from beer excise in 2025-26… but only $1.5B from PRRT on our massive offshore gas exports. We’re one of the world’s biggest LNG exporters, yet multinational gas giants pay less tax than punters pay on a slab.
This is broken. Gas companies dodge super-profits tax with endless deductions while everyday drinkers get slugged. Time to fix PRRT, slap on real royalties or a flat export tax, and build a proper sovereign wealth fund for future generations—not corporate handouts.
Why are we taxing beer harder than billion-dollar gas rip-offs? Tax the extractors, not the exhausted.
#PRRT #GasTax #ResourceRent #AustraliaInstitute #TaxJustice #EndCorporateWelfare -
@ApaulD Absolutely infuriating. While Norway built a $350B sovereign wealth fund by taxing gas at 78%, we let Inpex extract $36 billion in revenue and pay basically nothing. They literally admitted to "optimising" tax through corporate restructuring—ie, deliberately dodging obligations—while we subsidised their infrastructure with billions in public money.
This is extractive capitalism at its worst: socialise the risk and costs, privatise the profits, export the resources that belong to all of us, and leave Australians with crumbs. The PRRT is a complete joke—no gas company has ever paid it on exported gas.
We desperately need a resource super profits tax modeled on Norway, not this neoliberal giveaway to foreign multinationals.#auspol #taxjustice #corporategreed #gascartel #extractivecapitalism #prrt #inpex #norway #resourcetax #australia #multinationaltax #anticapitalism
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This might be the biggest piss take.
You could do things like free childcare if you collected appropriate royalties for taking the gas that belongs to the Australian people.
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Alaskan residents get given an oil dividend from the government's oil profits #auspol #prrt #taxdodging
https://www.instagram.com/reel/DRWAie1CRGd/?igsh=aXY4MHBhemdiNjVi
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Norway taxes its oil wealth heavily, owns a share of production, and invests the proceeds for future generations. Australia, by contrast, practically gives its resources away.
The ABC story notes the contrast — but misses the deeper rot: our tax system was designed by and for the resource giants. The PRRT barely touches gas profits, and the Minerals Resource Rent Tax was killed off by mining lobbyists and their political mouthpieces. The result? Billions in exports, next to nothing returned to the public.
Norway treats its resources as a national inheritance; Australia treats them as a private loot. Offshore LNG producers have paid almost no PRRT, iron ore and coal escape rent taxes altogether, and companies exploit endless deductions to avoid paying their share. The so-called “reform” talk is theatre — the same oligarchs who own the mines own the media, shaping the story to make looting sound like patriotism.
Every tonne extracted should fund schools, hospitals and the energy transition, not private jets and political donations. Until we have a national resource rent tax and a sovereign wealth fund that captures super-profits for the public, we’ll keep being a quarry masquerading as a country.#taxjustice #australia #resources #inequality #climate #auspol #PRRT #fossilfuels #gascartel #sovereignWealthFund
https://www.abc.net.au/news/2025-11-05/lessons-for-australia-from-norways-tax-on-resources/105939048
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Nice one #punterspolitics 😀
Love the question about foreign multinational companies getting our gas for basically free
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@amyremeikis.bsky.social
#TaxTheRich instead. Close #TaxLoopHoles. Massively increase #PRRT. Renounce #StateCapture. Cap #CEORemuneration. Break up #MonopoliesGood gracious, our Govt is ‘owned’! By #CorporateAustralia
#AusPol -
@Alpha1Nine #Dutton caves to gas giants instead of making them pay their fair share! Instead of taxing gas companies properly and ensuring they contribute via a resource tax, Peter Dutton is fast-tracking Woodside’s North West Shelf expansion—a project that would:
- Lock in decades of free gas for Woodside (worth hundreds of billions!)
- Drive up WA gas & electricity prices (already tripled since exports began)
- Risk draining WA’s domestic gas reserves
- Destroy sacred Murujuga rock art
- Blow out Australia’s emissions (equal to 12 coal power stations every year!)A National Interest Test? This project would fail miserably. But Dutton’s priority isn’t Australians—it’s propping up foreign-owned gas corporations raking in record profits while we pay the price.
#Auspol #LNPFail #PRRT
#MakeThemPay #GasTaxNow #DuttonFailsTheTest #Gas -
@gnoll110 Totally agree with your sentiments. It’s alarming how much wealth is being generated for a select few through #mining and #gas extraction while the broader Australian public sees so little benefit. The lack of a proper Petroleum Resource Rent Tax (#PRRT ) or equivalent on many of our natural resources is shocking, especially given how much profit these companies are extracting from our land. The idea of drastically increasing resource taxes makes perfect sense. Not only would it curb unsustainable production, but it would also ensure we’re not draining our finite resources for short-term profits. The gas and #coal industries, in particular, are responsible for immense environmental and social costs, yet they continue to influence government policy to avoid proper regulation. We absolutely need to model and plan a sustainable approach to #resourceextraction, one that benefits the whole nation, not just a privileged few.
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@Susan60 Better idea, instead of making our money importing cheap labour, how about taxing our resources properly ? #auspol #freeeducation #PRRT
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Norway's smart management of oil and gas wealth has made its citizens the richest in the world—a title Australia could have claimed with proper resource taxation. Instead, we've lightly taxed our resources and rapidly increased population through immigration, diluting our wealth. Australia should be thriving. #Australia #ResourceTaxation #WealthManagement #Norway #EconomicGrowth #Auspol #PRRT #Gas
https://www.macrobusiness.com.au/2024/08/australia-should-be-swimming-in-money/
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@petros @feather1952 It's alarming how Australia's mainstream media, especially outlets like the Herald Sun, often overlooks crucial issues like this. The fact that many people remain unaware or misinformed is a significant problem, exacerbated by the fact that media ownership is heavily concentrated. It's no surprise when we see Murdoch-owned outlets ignoring or downplaying such stories—after all, the interests of fossil fuel companies and their shareholders are closely tied to these media giants. It's a sad reality that you have to turn to international sources like The Guardian to get a more accurate picture of what's really going on in Australia. #MurdochRoyalCommission #PRRT #Auspol #gas #FossilFuelIndustry
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Don’t know how many times we need to be told this. But here we go again. We need our govt to stop subsidising extractive industries and to tax their profits equitably. What’s the holdup here?
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Norway’s Sovereign Wealth Fund is now valued at almost $340,000 per person, showcasing a robust strategy to support its ageing population.
If Australian policymakers properly taxed our resources, we wouldn't need to worry about federal budget debt. We wouldn't have to rely on #massimmigration to fill budget gaps, passing costs to states and residents.
#Australia needs a smart, sustainable approach—not a #Ponzischeme masked by record population growth.
Unfortunately, the Albanese Government has embraced a “ #BigAustralia ” model, launching one of the world’s largest immigration programs. As a result, Australians will face a crowded, high-rise future in a deteriorating environment.
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Australia Institute research has found that 73% of #gas exported from #WA attracts zero royalty payments. Gas royalties make just 1% of WA Government revenue, less than motorists contribute through vehicle registration. #auspol #PRRT #climate #fossilfuels #GasCrisis #Santos #woodside