gas export tax

Australian Prime Minister Anthony Albanese has ruled out a proposed 25% tax on existing gas export contracts in next month’s federal budget, citing concerns over damaging partnerships with Asian trading partners during a global fuel crisis. He criticized the 'populist' campaign advocating for the tax, emphasizing the importance of maintaining international energy supply relationships.

ACT independent David Pocock is advocating for a 25% tax on gas exports to fund welfare and housing, as the Albanese government faces pressure to reform property investment tax concessions and tax commodity export profits. A survey highlights worsening economic hardship, with low-income Australians skipping meals and delaying medical care.