Key Facts

• David Pocock, an independent senator from the ACT, is campaigning for a 25% tax on gas exports through changes to the petroleum resource rent tax (PRRT).
• The proposed gas export tax could raise up to $17 billion for the federal budget.
• Social service and charity groups want the government to use funds from taxing property investors and gas exporters to improve welfare, housing, and renewable energy projects.
• The current Labor government is under pressure to reduce tax breaks for property investors, such as negative gearing and the capital gains tax discount.
• The Australian Council of Social Service and 50 other organizations highlight increasing hardship among low-income Australians, with people skipping meals and delaying medical care.
• A survey by the Australian National University found life satisfaction in Australia is lower than during Covid-19 lockdowns, scoring 6.22 out of 10, the lowest recorded.
• About 35% of Australians report difficulty living on their income, with most having taken significant financial coping steps in the past year.
• The drop in life satisfaction reflects a gradual and ongoing decline, not a sudden change like during pandemic lockdowns.