Andrew Hastie open to 25% tax on gas profits and says multinationals have ‘had a really good run’ on Australian wealth

Exclusive : Speaking with the Australian Politics podcast, the Liberal frontbencher says a sovereign wealth fund would set Australians up for generations to come Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast Liberal frontbencher Andrew Hastie says he is open to a new 25% tax on soaring gas profits as part of a Scandinavian-style

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Background

sovereign wealth fund to strengthen the federal budget amid the global energy crisis. Budget leaks suggest the Albanese government is modelling the effects of placing a flat 25% tax on gas profits, as well as possible further changes to the petroleum resource rent tax (PRRT) and corporate income tax. Continue reading... Exclusive: Speaking with the Australian Politics podcast, the Liberal frontbencher says a sovereign wealth fund would set Australians up for generations to come Follow our Australia news live blog for latest updates Get our breaking news email, free app or daily news podcast Liberal frontbencher Andrew Hastie says he is open to a new 25% tax on soaring gas profits as part of a Scandinavian-style sovereign wealth fund to strengthen the federal budget amid the global energy crisis. Budget leaks suggest the Albanese government is modelling the effects of placing a flat 25% tax on gas profits, as well as possible further changes to the petroleum resource rent tax (PRRT) and corporate income tax. Continue reading...

Why it matters

Understanding these updates helps stakeholders anticipate shifts in implementation, enforcement, and public debate.