Overview
- Resources Minister Madeleine King, who said Friday there is "no change" on gas taxation, indicated the proposed 25% export levy is not being taken forward in the May 12 budget as the prime minister also cooled on the idea.
- At a Greens-led Senate hearing in Perth on Friday, Woodside, Chevron, Santos and INPEX warned a flat 25% charge on revenue would scare off capital and could render projects like Woodside’s $30 billion Browse development unviable.
- Producers said they paid about $21.9–$22 billion in taxes and royalties last year and defended the Petroleum Resource Rent Tax, a profit-based regime that lets large LNG projects carry forward costs before paying more once they mature.
- Senators examined political influence, with Shell disclosing about $1 million toward a $5 million campaign defending gas profits and questions raised over roughly $2.5 million in Woodside donations and companies’ access to senior politicians.
- Campaigners including the Greens, David Pocock and the Australia Institute continue to push the levy, citing modelling of roughly $17 billion a year in revenue, and the inquiry is due to deliver its report next month.