Overview
- The Department of Prime Minister and Cabinet asked Treasury to cost new levy options on gas and thermal coal profits and to examine further PRRT reforms ahead of May.
- Energy Minister Chris Bowen declined to rule out a windfall measure, noting tax decisions sit with Treasurer Jim Chalmers as budget work continues.
- The Greens offered votes to pass a flat 25% export levy, citing roughly A$17 billion a year for cost‑of‑living relief, after a recent Senate vote saw Labor, the Coalition and One Nation block a Greens amendment.
- Industry groups and majors warned a levy would deter investment and threaten supply, with the sector pointing to A$21.9 billion in taxes and royalties paid in 2024–25.
- Context for the push includes surging LNG prices after Middle East disruptions, Australia’s A$65 billion in annual LNG exports, and PRRT receipts of roughly A$1.5 billion a year that critics say fall short.