Petroleum Resource Rent Tax Review 2017: Split Priorities Found in Public Submissions

35 Pages Posted: 30 Jul 2018

See all articles by Diane Kraal

Diane Kraal

Monash University - Monash Business School

Date Written: March 21, 2018

Abstract

Falling revenues led to the Turnbull Government review of the petroleum resource rent tax (PRRT) and related resource taxes. This research draws on data from public submissions to the review and enquires into the central concerns of industry and community submitters. The research framework of grounded theory has been selected as appropriate to the research aims of discovering the drivers around certain observed (social) phenomena and building a new and substantive theory/s in explanation. Findings show the petroleum industry has closed ranks around “no change”, while regional shire councils want PRRT revenue placed in a future fund. A coterie of trade unions, social justice groups and individuals pressed for the re-introduction of Commonwealth royalties for offshore gas projects that are currently only subject to the PRRT. Theories grounded in the data are presented to explain the impasse found in the submissions. This article is significant for its insights into the first government review of petroleum taxation since the 1980s.

Suggested Citation

Kraal, Diane, Petroleum Resource Rent Tax Review 2017: Split Priorities Found in Public Submissions (March 21, 2018). Australian Tax Forum, Vol. 33(2), 2018, Available at SSRN: https://ssrn.com/abstract=3216312

Diane Kraal (Contact Author)

Monash University - Monash Business School ( email )

26 Sir Monash Drive
Caulfield East
Melbourne, 3145
Australia
03 9903 2144 (Phone)

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