A Labor backbencher has renewed calls for a gas tax, saying the existing tax regime "is kind of like Old Yeller …. it's time to say goodbye".
Speculation the ALP would debate amendments on a new tax regime for the gas export industry in its party platform at the first day of its national conference in Adelaide on Thursday proved incorrect.
Speaking outside the conference, NSW backbencher Ed Husic said in taxation terms, the current Petroleum Resource Rent Tax was "kind of like Old Yeller - it's had its day, it's time to say goodbye".
That tax raises only modest annual revenues each year, easing to $1.5 billion more recently after peaking at about $2.2 billion.
"We need to shape something new, something fairer, something better and frankly, something with teeth, that makes a lot of these companies genuinely pay up," Mr Husic said.
Companies had shifted their costs offshore, denying the PRRT "the ability to do its job and I think we've got to be able to do something stronger," he said.
"There are a lot of delegates who have a lot of strong views that reflect the position of the public on this.
"I think there is an expectation that we do need to move on bringing in a tax on gas exports because it reflects a view that we are missing out on a fair and proper deal."
There had been speculation the conference would debate calls from delegates for a gas export tax, but instead the draft platform retained wording calling for Australians to receive a "fairer return from their natural resources, including through appropriate taxation arrangements".
The ACTU has proposed a 25 per cent gas export tax it says would raise an estimated $17 billion a year and bring down domestic gas prices.
The Australia Institute co-chief executive Richard Denniss said there was "a huge opportunity to finally introduce a gas policy which benefits all Australians".
"Tax policy doesn't have to be complicated to be effective," he said.
"The more complicated it is, the more it can be exploited."
Australian Associated Press
