On 23 March 2026, I asked a Question on Introducing a Gas Tax.
Transcript:
Ms WATSON-BROWN (Ryan)
My question is to the Prime Minister. Corporate profiteering by big gas corporations skyrocketed after the invasion of Ukraine, causing rising power bills. It's happening again thanks
to Trump and Netanyahu's war on Iran, which you support. These corporations literally take Australian gas for free
and make obscene profits from it. Will you put a 25 per cent tax on gas exports?
Minister King:
I thank the member for her question. Just to clarify, the budget will be delivered in May, and I'm not going to comment on
any processes in the meantime. I would just clarify that the oil and gas industry contributed almost $12 billion in
taxes in 2023-24. We reformed the petroleum resources rent tax to deliver a fairer return to the Australian
community from their natural resources. These changes to the PRRT ensure that offshore gas companies pay more
tax sooner and, as I said, deliver a greater return to the Australian people. These changes provide industry and
investors policy certainty to allow sufficient supply of domestic gas and to ensure Australia remains a reliable
international energy supplier and investment partner. As everyone would imagine—everyone knows here—that's
very important and important now more than ever. We are working to ensure multinationals, including gas companies, pay their fair share of tax in Australia.
Obviously, the PRRT only applies to offshore tax exporters, as opposed to those that onshore in Queensland, which
is a different matter. Nonetheless, all of the gas companies do pay a significant amount of tax in this country. They
also employ over 80,000 Australians and contribute quite heartily to the regions right around the country. I thank
the member for her question.