Overview
- The Greens-led Senate inquiry, which opened Tuesday, heard economists and advocates back a flat 25% export levy they say could raise about $17 billion a year.
- Former Treasury secretary Ken Henry and The Australia Institute said the current Petroleum Resource Rent Tax lets companies carry costs forward, which keeps near-term tax receipts low.
- The government has asked Treasury to model options and ministers say policy has not changed as the May 12 budget approaches.
- Industry groups including Australian Energy Producers and the Business Council warned higher export taxes would deter investment and could strain energy supply ties, noting the sector paid about $21.9 billion in 2024–25.
- Fuel-security pressures from the Iran conflict and reliance on partners such as Japan, Malaysia and South Korea are complicating tax decisions after the prime minister sought “no surprises” assurances on LNG during recent visits.