An analysis of ATO data on company tax paid, PRRT revenue from the federal budget papers, excise data from the ATO, Commonwealth royalties from the federal budget papers and State royalties reported by relevant jurisdictions suggest the gas industry is significantly overstating the total tax it pays and may have misled a senate inquiry.
The oil and gas industry’s peak lobby group, Australian Energy Producers (AEP), in its Submission to the Select Committee on the Taxation of Gas Resources claimed the industry “paid a record $21.9 billion in taxes and royalties in 2024-25.” They cite a Financial Survey 2025 as the source for this data which simply links through to an AEP media release rather than any survey findings or other reliable data.
Relying on official government data sources reveals that tax, excise and royalty revenue collected from oil and gas in Australia in 2022-23 was $19 billion, and indicative figures for 2023-24 were $15 billion, with all relevant data from 2024-25 not yet available.
It shows Petroleum Resource Rent Tax receipts falling from $1,725m in 2022-23 to $1,483m in 2024-25, Commonwealth Royalties falling from $2,079m in 2022-23 to $933m in 2024-25 and even Queensland State Royalties from $2,350m in 2022-23 to $1,689 in 2024-25.
Every tax, excise and royalty figure in every jurisdiction with reported data over the three financial years was trending down.
Australian Energy Producers and their members who fronted the inquiry have also refused to disclose who has sponsored their access-all-areas passes to Parliament House.
ACT Independent Senator David Pocock said more transparency and greater accountability was needed in the figures being used to prosecute arguments in this tax debate.
“The Coalition, the oil and gas industry, the Prime Minister and even some in the media have been levelling accusations of misinformation at the community-backed campaign pushing for a fair return on the export of our gas resources without fact checking their own figures first,” Senator Pocock said.
“As I've repeatedly said, the gas industry makes a contribution, but nowhere near enough. What I am arguing for - reflecting the view of the majority of Australians - is that we should get a fairer return on the export of a finite resource.
“While countries like Norway have built a $3 trillion dollar sovereign wealth fund, Australia has a trillion dollars of national debt.
“Australians are constantly told we live in one of the wealthiest nations on earth but for more and more people it doesn’t feel like that. Getting a fair return for the export of our finite natural resources can help fund the services Australians rely on, especially in times of global conflict that drive up cost-of-living, while paying down debt and putting some into a sovereign wealth fund for our future.”
