$324 billion reasons the PRRT is a joke
Treasury spokesperson, Senator Peter Whish-Wilson, today commented on new tax statistics released by the ATO revealing tax credits to oil and gas giants have ballooned to $324 billion.
"The PRRT is the most egregious rort in the Australian tax code.
"The failure of successive Liberal and Labor governments to address this problem has resulted in oil and gas companies accumulating a whopping $324 billion worth of tax offsets.
"This equates to around 70% of the Commonwealth Government’s total revenue.