Australia could rake in $1.5 bln per year via tax on LNG

Australia’s federal government could reap $1.5 billion per year in tax revenue if the country’s new LNG projects are included in a 10% commonwealth royalty proposed by the Tax Justice Network.
By Staff reporter 10 February 2017 0 23944

Australia’s federal government could reap $1.5 billion per year in tax revenue if the country’s new LNG projects are included in a 10% commonwealth royalty proposed by the Tax Justice Network, according to the Illawarra Mercury.

The organisation submitted its findings to Treasurer Scott Morrison’s review of the petroleum resource rent tax. The 10% royalty is paid by onshore developments in Queensland and the 33-year-old North West Shelf project in Western Australia, but new LNG projects have largely been exempt.

Talk to us
Natural Gas Daily welcomes your comments. Email us at comments@interfax.co.uk.