Is the resource industry paying their fair share? The Petroleum Resource Rent Tax (PRRT) explained

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Image: 'Energy in Australia' on Wikipedia

The Petroleum Resource Rent Tax (PRRT) is a profit-based tax which is levied on petroleum projects.

It was introduced by the Hawke-Keating Government in 1998.

Australia is experiencing a natural gas export boom, but a tax meant to share the profits with the community is failing to raise any new revenue.

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