Economy
"Pivotal moment" for LNG tax reform as prices surge globally
A lead analyst at the Institute for Energy Economics and Financial Analysis (IEEFA) has argued that conditions are ripe for an overhaul of how Australia taxes liquefied natural gas (LNG) exports, with gas giants preparing to cash in on another global price surge.
If a tax on Artificial Intelligence is “inevitable” - it will never happen
The head of Artificial Intelligence firm Anthropic said at the beginning of this month that a tax on Artificial Intelligence (AI) is “inevitable”. Ironically, his comment makes it less likely that such a tax will ever happen. In politics, calling something "inevitable" implies that nobody needs to fight to make it happen.
International aid enters historic decline with Australia among lowest contributors
As global crises mount, international aid spending has entered a historic decline, with Australia’s contribution among the lowest in the world. “DFAT must restore its aid budget and shore up the global humanitarian system that faces its most serious crisis in decades,” said Oxfam Australia’s Head of Humanitarian, Lucia Goldsmith.
Beer, HECS and visas: things that raise more revenue than the Petroleum Rent Resource Tax (PRRT)
While the PRRT has collected a fraction of the revenues from oil and gas company profits over the past 10 years, Australians have been contributing more to the government’s coffers in HECS repayments, beer, tobacco and spirits excises, and the Major Bank Levy. Even foreigners have been contributing more in visa application fees.
Santos records nearly $47bn in sales over a decade without paying corporate tax
Corporate tax transparency data shows that for the 10th straight year, Santos has made zero corporate tax payments from nearly $47 billion in sales. This covers the period from 2013-14 to 2023-24 (the most recent data available).
Rare political window opens for government as support surges for 25% gas export tax
Support for a 25% tax on gas exports is surging across Australia: uniting politicians, big business, environmental organisations, and voters in an ever-growing coalition. This rapidly expanding support has created a unique political window, making it easier than ever for the government to act and secure $17 billion annually for essential services like schools and hospitals, and the momentum is only continuing to build.
An economist’s advice on why EV ‘range anxiety’ is overrated
If you are thinking about buying an EV, the faster you can abandon the ‘rational’ way of thinking about ‘filling up’ with petrol, the more relaxed you will be, and the less you will spend, ‘topping up’ with electrons.
Japanese climate coalition joins growing push for 25% gas export tax
Calls for Australia to impose a 25 per cent gas export tax have gained international backing, with a coalition of Japanese climate and advocacy groups urging the Albanese government to act.
Election landslides aren't legacies, but a 25% gas tax could define Albanese's
The decisions made by Anthony Albanese in the next month will likely define Labor’s legacy for decades to come. Surging energy prices give the PM a unique opportunity to tax the gas industry, fund the services Australians are crying out for, improve the budget bottom line and expose the shallowness of Pauline Hanson’s support for ‘ordinary Australians’.
