BP have correctly uncovered that a tax on gas exports would raise more revenue than the Petroleum Resource Rent Tax (PRRT). However, some of their other claims in their submission to the Senate Select Committee on the Taxation of Gas Resources were misleading...
Yes, they do. Polling surveys consistently show that Australians support strengthened gun control.
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Liberal leader Angus Taylor claims that expanding Parliament “could cost taxpayers more than $620 million”. This figure is misleading, relying on unclear assumptions and omitting important context.
A "25% tax on gas export would make “17 billion dollars a year”, and, as ARIA-award-winning musician Montaigne claims, “if even a fraction of [that money] was directed to music and the arts, it could change the game”. They're right — if less than one fiftieth of the potential annual revenue from the 25% gas exports tax went to arts funding, that alone could be transformative.
Economists and other inflation watchers are claiming that the cut in the fuel excise will be inflationary. This is not true, as this claim ignores everything else that is happening in the economy right now.
In a new ad campaign, a mining lobby group claims that mining companies pay “enough tax to fund Medicare.” This is not true. Over the past ten years, the total cost of Medicare was $322 billion, while the mining industry paid $228 billion in tax, a gap of some $94 billion.
Shadow Treasury spokesperson, Tim Wilson, was on Triple J’s Hack yesterday and he made some interesting statements and claims about gas tax. To set the record straight: royalties are not tax, Australia does not have a gas shortage, and beer drinkers do pay more, than gas companies pay the PRRT.
On the 18th of March, the High Court released its judgment on EGH19 v Commonwealth of Australia, ruling that conditions requiring a curfew and ankle-bracelet monitoring on someone released from indefinite immigration detention were not compatible with the Constitution.
On Monday, journalists asked if a 25% export tax that helped pay for cost-of-living relief would “just increase demand and worsen inflation”. No, it will lower inflation.
The claim is true. Japanese companies are on-selling a lot of Australian LNG and making a lot of profit while doing it.
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