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Opposition considers extending petroleum tax

The federal Coalition is considering extending the petroleum resources rent tax to onshore projects, such as coal seam gas, if it wins government in September.

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(File: AAP)

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Source: AAP


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The federal Coalition is considering extending the petroleum resources rent tax to onshore projects, such as coal seam gas, if it wins government in September.

Shadow treasurer Joe Hockey says the opposition is still committed to abolishing Labor's controversial minerals resources rent tax which so far has failed to garner the revenue forecast by Treasury.

Instead it will look at extending the petroleum resources rent tax to onshore projects, potentially capturing billions of dollars of tax revenue from the expanding CSG industry in Queensland and NSW.

"Those in the industry paying PRRT have been generally comfortable with this," Mr Hockey told the West Australian newspaper on Friday.

Opposition resources spokesman Ian Macfarlane says the coalition has yet to make a formal decision and will consult further with industry if it wins power on September 14.

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He acknowledged support for the extension was not necessarily a "unanimous view" within the industry.

Assistant Treasurer David Bradbury said the change of heart had "exposed the lies" of the coalition over the past few years.

"They have said they will repeal the mining tax and anything related to it," he told ABC radio.

"They've been running around the country telling porkies."


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