{"id":93994,"date":"2024-07-25T13:16:41","date_gmt":"2024-07-25T03:16:41","guid":{"rendered":"https:\/\/www.vibewire.com.au\/?p=93994"},"modified":"2024-07-25T13:17:38","modified_gmt":"2024-07-25T03:17:38","slug":"how-state-capture-in-australia-actually-works","status":"publish","type":"post","link":"https:\/\/www.vibewire.com.au\/?p=93994","title":{"rendered":"How State Capture in Australia actually works"},"content":{"rendered":"\n<p>Australia exports 80% of our gas- yet we face a shortfall in the domestic market.<\/p>\n\n\n\n<p>Japan is our major gas trading partner &amp; gets 43% of its gas from Australia. <\/p>\n\n\n\n<p>It then on sells a similar amount to other countries.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">We export 80% of our gas- yet face a shortfall in the domestic market. Japan is our major gas trading partner &amp; gets 43% of its gas from Aus. It then on sells a similar amount to other countries. Yet we are in a crazy situation we might have to start importing gas! <a href=\"https:\/\/twitter.com\/hashtag\/gas?src=hash&amp;ref_src=twsrc%5Etfw\">#gas<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/auspol?src=hash&amp;ref_src=twsrc%5Etfw\">#auspol<\/a> <a href=\"https:\/\/t.co\/zVIoh3ttrW\">pic.twitter.com\/zVIoh3ttrW<\/a><\/p>&mdash; Dr Sophie Scamps MP (@SophieScamps) <a href=\"https:\/\/twitter.com\/SophieScamps\/status\/1816211131368689733?ref_src=twsrc%5Etfw\">July 24, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Yet we are in a crazy situation we might have to start importing gas!<\/p>\n\n\n\n<p>Petroleum Resource Rent Tax or PRRT is levied at the rate of\u00a0<strong>40% on the taxable profits derived from the petroleum project in a year of tax<\/strong>. A year of tax is the first financial year in which an entity derives assessable petroleum receipts in relation to the project and any subsequent financial year.<\/p>\n\n\n\n<p>The problem is of the top 30 petroleum organisations in Australia almost tax was paid to the Australian Government despite 10&#8217;s of $billions in revenue being earned.<\/p>\n\n\n\n<p>Ask yourself this, why isn&#8217;t the government actually fixing this problem?<\/p>\n\n\n\n<p>Why are the government going after mum and dad for tax payments when big business is left alone?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Australia exports 80% of our gas- yet we face a shortfall in the domestic market.<\/p>\n","protected":false},"author":22,"featured_media":93997,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[273,999,35],"tags":[11925],"class_list":["post-93994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australia","category-australia-politics","category-breaking-news","tag-petroleum-industry-rent-tax"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vibewire.com.au\/index.php?rest_route=\/wp\/v2\/posts\/93994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vibewire.com.au\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vibewire.com.au\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vibewire.com.au\/index.php?rest_route=\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vibewire.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=93994"}],"version-history":[{"count":1,"href":"https:\/\/www.vibewire.com.au\/index.php?rest_route=\/wp\/v2\/posts\/93994\/revisions"}],"predecessor-version":[{"id":93996,"href":"https:\/\/www.vibewire.com.au\/index.php?rest_route=\/wp\/v2\/posts\/93994\/revisions\/93996"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vibewire.com.au\/index.php?rest_route=\/wp\/v2\/media\/93997"}],"wp:attachment":[{"href":"https:\/\/www.vibewire.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=93994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vibewire.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=93994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vibewire.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=93994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}