Gas tax: How beer fuelled a debate on Australia's energy giants
Summary
Australia makes more money from taxing beer than from its large gas exports. There is a growing debate about introducing a 25% tax on gas exports to raise government revenue, but the prime minister has rejected this idea so far.Key Facts
- Australia earns more tax revenue from beer excise than from offshore gas exports.
- Senator David Pocock highlighted this fact during a senate hearing, which became widely viewed online.
- A proposed 25% tax on gas exports could raise about A$17 billion a year.
- The current Petroleum Resource Rent Tax (PRRT) on gas is expected to raise A$1.5 billion in 2025-26.
- Beer tax revenue is expected to be A$2.7 billion in the same financial year.
- Australia's domestic gas prices have risen, while exports have grown, sparking calls for new taxes.
- Former treasury secretary Ken Henry supports a gas export tax, saying it would have earned billions for Australia.
- Japan collects more revenue by taxing Australian gas imports than Australia raises through its own gas taxes.
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