Just before Christmas, the Albanese government released its wet lettuce East Coast gas reservation policy, which has arrived too late and will do little to improve gas supply and affordability. The main problem with the policy is that it will apply only to new gas projects from 2027 and will require exporters to set aside
From the article: the gas corps “transfer their profits offshore to minimise their tax and pay no royalties”.
But that is a conservative paper. The reality is even worse.
AGL has been listed in Australian Taxation Office (ATO) transparency reports as one of the large companies that paid zero income tax in certain periods, such as the 2021-22 and 2023-24 financial years.
https://www.thenewdaily.com.au/finance/finance-news/2023/11/09/corporate-tax-bill-2021-2022