Published: November 02, 2018
Government will raise an extra $6bn in revenue with surprise change to petroleum resource rent tax
The booming offshore gas industry will be hit with an unexpected tax hike after the Morrison government revealed plans to change the tax treatment for some existing oil and gas projects.
Treasurer Josh Frydenberg says the government hopes to raise an extra $6bn in revenue over the next 10 years by changing the settings of the petroleum resource rent tax (PRRT).
Continue reading...from The Guardian https://ift.tt/2qoJDR5
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