00:03As a tax the gas campaign gains attention and momentum, gas giants gear up for a fight.
00:14Frankly, there are absolute lies that are being peddled in some of the social media commentary.
00:21Appearing before a Greenslet inquiry into Australia's gas tax regime to put forward their case.
00:27We are giving fair share to the Australian people.
00:29Well that's debatable.
00:3044 cents in the dollar last year.
00:33We do pay our taxes, we're the fourth largest taxpayer in Australia.
00:36Funding a new ad campaign, the gas industry says it paid a combined $22 billion last year in taxes and
00:43royalties.
00:44Including $1.5 billion in petroleum resource rent tax.
00:48That's a tax on the profits made on offshore oil and gas projects.
00:52But according to critics, it's not raising enough and they want it replaced with a flat 25% tax on
00:59exports.
01:00The current tax regime works.
01:02It balances a fair return to Australians while also encouraging investment.
01:08Additional or new gas taxes risk undermining Australia's reliability as a trusted trading partner.
01:13On that, the federal government agrees.
01:16We're not changing our policies in respect to gas.
01:19I think it just shows how captured the major parties are by the gas industry.
01:25So the Prime Minister has a choice.
01:26Does he stand with the gas industry or does he stand with the Australian people?
01:30The government has examined options for a new profit-based gas tax to raise much needed revenue.
01:36But as revealed by the ABC, the Prime Minister's intervened to kill off any plans in next month's budget,
01:42worried it could anger the very trading partners Australia's relying on for fuel.
01:47Confirmation today, another two shipments of diesel have been secured, most to be sent to regional areas.
01:53More fuel in the national stockpile now than before the war.
Comments