Aussies pay more tax on a stubby than the gas barons pay on billions in exported LNG.
Senator Pocock is spot on: time to end the great gas giveaway. Slap a flat 25% tax on exports, rake in billions for housing, health, & renewables instead of letting multinationals leach our resources for peanuts.
Beer taxes > PRRT? That’s not a policy, that’s a scam. Fix it now!
Sign the petition & spread the word.
#Auspol #GasTax #EndTheScam #TaxTheRich #AustraliaInstitute #ResourceTax
@ApaulD Absolutely infuriating. While Norway built a $350B sovereign wealth fund by taxing gas at 78%, we let Inpex extract $36 billion in revenue and pay basically nothing. They literally admitted to "optimising" tax through corporate restructuring—ie, deliberately dodging obligations—while we subsidised their infrastructure with billions in public money.
This is extractive capitalism at its worst: socialise the risk and costs, privatise the profits, export the resources that belong to all of us, and leave Australians with crumbs. The PRRT is a complete joke—no gas company has ever paid it on exported gas.
We desperately need a resource super profits tax modeled on Norway, not this neoliberal giveaway to foreign multinationals.
#auspol #taxjustice #corporategreed #gascartel #extractivecapitalism #prrt #inpex #norway #resourcetax #australia #multinationaltax #anticapitalism
If Australia had implemented a resource tax regime similar to Norway’s — particularly Norway’s sovereign wealth fund model built on high taxes and royalties from oil and gas — the country would likely be substantially wealthier and more economically resilient today. Here’s a breakdown of the key differences and what Australia might look like under such a model:
⸻
What Norway Did Right
Norway’s approach to resource wealth is often cited as world-leading. Key features include:
1. High Resource Rent Tax: Norway imposes a 78% effective tax on oil company profits (including corporate tax and a special petroleum tax).
2. Sovereign Wealth Fund (The Government Pension Fund Global):
• Started in the 1990s.
• Now worth over US$1.6 trillion.
• Invests globally for long-term returns.
• Explicitly designed to benefit current and future generations.
3. Strict Regulation & Transparency: The system is managed transparently, with strong public oversight and limited corruption.
#australia #norway #resourcetax #sovereignwealthfund #oilandgas #economicresilience #wealthmanagement #resourcerenttax #governmentpensionfund #transparency #publicoversight #longterminvestment #economicpolicy #resourcewealth #taxreform
The Japanese government is exploiting Australia's gas #resources, leaving #Aussies with exorbitant #gas prices while #Japan profits by reselling the gas, and the Australian government is complicit in hiding this #scam from the public. #auspol #fossilfuels #ResourceTaxation #resourcetax
For decades #multinationals companies like #CocaCola have been taking #water out of the ground for free in #WestenAustralia and bottling it up to sell. But residents in the Perth Hills are calling for the practice to end.
#australia #resourcetax #WaterResources
The 59 leading economists surveyed by Economic Society of #Australia were asked to pick from a list of options. How top economists would raise $20 billion per year.
#landtax #resourcetax #InheritanceTax #negativegearing #taxtherich #auspol
Asked to choose the fairest ways to raise billions, half of the economists backed introducing inheritance taxes. Around a third chose winding back super tax concessions and increased resource taxes.
Mojo ♻️
Morpheus Being