The latest report from The Australian Institute [1] shows Queensland Gas companies pay zero tax. The irony is these global energy corporations exporting coal seam gas from Queensland paid no company tax – again – in 2022-23, on $36 billion of income yet promote themselves as model Australian companies.
These companies have never paid company tax, despite exporting the equivalent of 15 years of gas used by Australians in the eastern states. In the Great Gas Giveaway [2] we see that Australia is one of the largest global gas exporters.
- Australia has ten facilities that export gas as liquified natural gas (LNG).
- Six of these projects pay no royalties. Four of 4 operating in Western Australia, both of the Northern Territory’s facilities
- Neither state or federal collect royalties
- The companies get $149 billion of free gas and pay just $140 million.
These companies have also been exempted from the Petroleum Resource Rent Tax, the tax that is supposed to cover gas production in Australia.
“It is amazing that companies making $36 billion of income exporting Australian gas could pay no company tax, If you paid any tax in 2022-23, you paid more than all these gas corporations combined.
Mark Ogge, Principle Adviser at the Australia Institute.
As Ogge points out, “Australians are missing out on schools, hospitals, housing and cost of living relief because foreign-owned gas exporters are taking us for a ride, and our governments are doing nothing about it.”
Queensland Gas Companies Pay Zero Tax
Total income over 15 years. Total tax paid = 0
| Company | Revenue ($ Billions) | Tax Paid |
|---|---|---|
| Australia Pacific LNG Pty Ltd | $11.3 | $0 |
| Arrow Energy Holdings Pty Ltd | $0.7 | $0 |
| QGC Upstream Holdings Pty Limited | $10.7 | $0 |
| Petronas Australia Pty Limited | $1.9 | $0 |
| Total Energies EP Holdings Australia Pty Ltd | $3.7 | $0 |
| Total energies EP Australia | $0.4 | $0 |
| Total Energies Gas & Power Australia Pty | $0.2 | $0 |
| Kogas Australia Pty Ltd | $1.6 | $0 |
| Santos Limited | $6.3 | $0 |
| Total | $36.5 | $0 |
Not Just Queensland but Also WA Pay Little Tax
The gas fields in Western Australia also contribute little to Australia’s income. There are 2 major fields, Pluto and WA Shelf.
Motorists pay more in WA in vehicle registration fees ($1.2 billion) than royalties and PRRT. The amount is less than 1.4% of government spend.
| Millions Paid | North West Shelf | Pluto Gas Fields |
|---|---|---|
| Royalties | 325 | 0 |
| Petroleum Resource Rent Tax | 114 | 368 |
| Sub Total | 439 | 368 |
References
- Gas companies export $36 billion of gas from Queensland https://australiainstitute.org.au/post/gas-companies-export-36-billion-of-gas-from-queensland-pay-zero-tax-again/
- Great Gas Giveaway https://optimisticstorm.com/great-gas-giveaway/
