‘Not one cent’ in PRRT: Labor signs off on Liberal plan to allow companies free access to hundreds of billions of dollars of petroleum resources
The Senate Inquiry into Corporate Tax Avoidance report released today reveals the Labor Party is signing off on the Liberals' policy not to touch the tax system for existing petroleum resource projects. The Australian Greens said that this will allow hundreds of billions of dollars of petroleum resources to be extracted without a cent in royalties or taxes paid under the Petroleum Resource Rent Tax for decades to come.