Senate Select Committee on the Taxation of Gas Resources (part 2 of 2) — hearing of 22 April 2026: transcript & video · Polyfact

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Senate Select Committee on the Taxation of Gas Resources (part 2 of 2)

22 April 2026

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Contents updated on 21 Oct 2026

Treasury clarifies that PRRT is assessed project by project, so the cited $282 billion in uplift deductions does not need to be exhausted industry‑wide before PRRT is paid, and explains the 90% deductions cap that ensures PRRT is paid on at least 10% of project revenues after seven years of production.

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Treasury and ATO — PRRT structure and reform frameworks

00:00

Treasury — PRRT deductions cap and uplift stock

00:00

Steph Hodgins-May — PRRT take vs Wood Mackenzie

00:55

Mapping oil and gas tax obligations across jurisdictions

02:01

Designing federal tax amid East–West and onshore–offshore differences

04:26

Frameworks for evaluating resource tax reform options

06:50

Tax payments, price impacts and recent PRRT changes

09:53

ATO — correcting 2019 comments on ‘systemic non-payers’

09:53

Oil and gas corporate tax paid and price impacts

13:33

ACCC — domestic gas prices and profiteering concerns

17:25

Treasury — recent PRRT reforms and investment sensitivity

20:00

LNG PRRT transparency, oil‑linked pricing and export tax incidence

23:29

Pocock — transparency of PRRT from LNG vs oil

23:29

Oil‑linked pricing, PRRT forecasts and budget modelling

28:25

Are producers benefiting from high prices at consumers’ expense?

36:10

Gas export tax incidence and PRRT effective take

41:55

Shift to Industry/Climate officials — gas projects, royalties and reservation

44:07

Transition between hearings and departmental witnesses introduced

44:07

Industry — are gas resources ‘given away for free’?

47:16

LNG exports, domestic supply and energy security

53:47

Export taxes, investor certainty and trading partner claims

56:47

North West Shelf and Barrow Island royalties — levels and history

01:00:26

Gas shortfall timelines and reservation scheme design

01:03:41

Pocock — Commonwealth LNG royalties, domestic price rises and CCS liabilities

01:06:26

Pocock — dissecting Commonwealth LNG royalties

01:06:26

Domestic gas prices after East Coast LNG linkage

01:09:10

Future LNG demand, price outlook and CCS liabilities

01:13:29

Senate Select Committee on the Taxation of Gas Resources (part 2 of 2)

22 April 2026

Senate Select Committee on the Taxation of Gas Resources Wed, 22 Apr 2026 Australian Parliament

00:00 - 00:04

Speaker 40

Population to become payable, yes, that amount would need to be.

00:04 - 00:10

Speaker 31

So across the entire industry, $282,000,000,000 before they would have to pay full full PRRT.

00:11 - 00:23

Speaker 13

Senator, sorry. I I might just clarify. Maybe two things there might be helpful to clarify. The first is, as miss Emery said, these are actually assessed on a project by project basis. So

00:23 - 00:24

Yes. Nice. Yeah.

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