BY PATRICK COMMINS
ECONOMICS CORRESPONDENT/THE AUSTRALIAN
10:03PM FEBRUARY 9, 2020
A failure to modify outdated gas royalty tax rules means Australia is “giving away for free” the world’s largest supply of liquefied natural gas to multinational corporate giants such as Chevron and Exxon, an expert says.
Australia has been transformed into the world’s largest exporter of LNG, with industry revenues
passing $50bn a year.
Despite this boom, the government’s tax take from the industry is set to fall $450m over the fouryear
budget estimates, from $1.4bn annually today.
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