Madeleine King (Brand, Australian Labor Party, Minister for Northern Australia) Share this | Hansard source

I thank the member for her question. Just to clarify, the budget will be delivered in May, and I'm not going to comment on any processes in the meantime. I would just clarify that the oil and gas industry contributed almost $12 billion in taxes in 2023-24. We reformed the petroleum resources rent tax to deliver a fairer return to the Australian community from their natural resources. These changes to the PRRT ensure that offshore gas companies pay more tax sooner and, as I said, deliver a greater return to the Australian people. These changes provide industry and investors policy certainty to allow sufficient supply of domestic gas and to ensure Australia remains a reliable international energy supplier and investment partner. As everyone would imagine—everyone knows here—that's very important and important now more than ever.

We are working to ensure multinationals, including gas companies, pay their fair share of tax in Australia. Obviously, the PRRT only applies to offshore tax exporters, as opposed to those that onshore in Queensland, which is a different matter. Nonetheless, all of the gas companies do pay a significant amount of tax in this country. They also employ over 80,000 Australians and contribute quite heartily to the regions right around the country. I thank the member for her question.

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