The Petroleum Resource Rent Tax fiasco

The Petroleum Resource Rent Tax fiasco

Yesterday the Australian National Audit Officepublished a bombshell report into the collection of North West Shelf royalty revenue. ANAOfound that $5 billion worth of deductions were claimed by oil and gas companies despitemany of these deductions not being permitted on the Commonwealth royalty schedule. Theyalso found that it had been 17 years since the department …

Continue reading →