Outdated tax ‘gives LNG away for free’ to multinationals

Outdated tax ‘gives LNG away for free’ to multinationals

BY PATRICK COMMINS ECONOMICS CORRESPONDENT/THE AUSTRALIAN @ComminsP 10:03PM FEBRUARY 9, 2020 A failure to modify outdated gas royalty tax rules means Australia is “giving away for free” the world’s largest supply of liquefied natural gas to multinational corporate...
The shine is coming off the golden age of gas

The shine is coming off the golden age of gas

Updated Friday at 16:10 First posted Friday at 15:47 Expires:  Saturday 9 March 4757 8:02pm The profits based petroleum resources rent tax is only paid by a handful of oil and gas projects as resource giants claim more than $300 million in tax credits.The federal...
Tax credits for oil and gas giants rise to $324 billion

Tax credits for oil and gas giants rise to $324 billion

By business reporter Nassim Khadem, ABC Oil and gas giants operating in Australia may not have to pay tax for years to come, as they accumulated $324 billion worth of tax credits in 2017-18. Australian Taxation Office (ATO) statistics show the amount of tax credits,...