Australia Institute analysis also shows:
- Gas exports worth $170 billion paid no royalties and no PRRT over the last 4 years.
- Australians pay 4 times more in HECs /Help repayments than the gas industry pays in PRRT.
- Australian nurses pay more tax than the gas industry.
- Many gas exporters continue to pay no tax and PRRT payments are at a 3 year low.
- The Australian government gives gas exporters more than half the gas they export royalty free.
"A 25% gas export tax would go a long way towards solving the nation's housing crisis and the self-inflicted 'gas crisis' in one fell swoop," said Rod Campbell, Research Director at The Australia Institute.
"It is extraordinary that Australia raises so little money from gas exports, despite being one of the world's largest producers.
"This is an opportunity for the Albanese government to implement progressive patriotism and put the interests of Australian households and businesses ahead of gas industry greed.
"The time for tinkering with the PRRT is long gone. Every time the government tries to reform it, the gas industry runs rings around them, and the end result is that companies pay little if any tax. The PRRT is broken and needs to be replaced.
"The ACTU's proposal for a flat 25% tax to replace the PRRT would give Australians a far fairer return on the sale of our gas resources, bringing us closer to countries like Norway and Qatar.
"This proposal provides the opportunity for a fresh start and a fairer Australia."
