The new ATO data has prompted renewed calls for the introduction of a flat 25% gas export tax, which Australia Institute research estimates would raise $17 billion a year.
Just last week, The Australia Institute released a sequel to its popular Big Gas Is Taking The Piss ad campaign. Today, the ATO underlined the failure of the existing tax arrangements on gas exports.
Today’s ATO data reveals:
- Santos Limited has racked up an 11th straight year of paying zero corporate tax payments from a total of nearly $52 billion in sales.
- Darwin’s Ichthys LNG Pty Ltd paid zero corporate tax or PRRT for the 7th year running, from a total of $53 billion in sales.
- Petroleum Resource Rent Tax (PRRT) revenue was a mere $1.8 billion, down from a peak of $2.0 billion in 2021-22.
“Every Australian should be furious that they are getting nothing in return for the sale of their resources,” said Greg Jericho, Chief Economist at The Australia Institute.
“How on earth can a company like Santos sell nearly $52 billion worth of Australian gas yet, for an 11th year in a row, pay not a single cent in corporate tax?
“It’s a similar story with Japanese entity, Ichthys. More than $50 billion in sales but, for a 7th straight year, not a single cent paid in corporate tax or petroleum resource rent tax (PRRT), the very tax which is designed to get Australians a fair share for the sale of their gas.
“Despite all the rhetoric about the PRRT building over time, PRRT revenue was lower in the latest year of data (2024-25) than in 2021-22, even though the federal government introduced reforms, promising they’d bring in ‘more revenue sooner’.
“These multinational companies are taking us for a ride. They’re playing us all for fools. While so many Australians are struggling they are just taking the piss. And yet our governments are doing absolutely nothing to stop them.”
