18th Mar 2024, 1:01 PM – Representatives Treasury Laws Amendment (Tax Accountability and Fairness) Bill 2023 - Second Reading - Separate the two purposes of the bill

The majority voted against an amendment to another amendment introduced by Warringah MP Zali Steggall (Independent). The amendment was introduced by Indi MP Helen Haines (Independent).

Amendment text

That all words after “acknowledging the” be omitted with a view to substituting the following words:

“House does not decline to give the bill a second reading, it:

(1) notes that the bill has two important, and distinctly unrelated purposes, being to:

(a) implement a response to the PwC tax leaks scandal, which was an outrageous breach of confidentiality by a consultancy hired by Government; and

(b) reform the Petroleum Resources Rent Tax, by establishing a cap on the use of deductions by offshore gas and oil projects; and

(2) notes that the illogical merging of two unrelated, yet equally important issues into the same piece of legislation is not consistent with the principles of good governance; and

(3) calls on the Government to separate out the provisions of the Petroleum Resources Rent Tax changes from the PwC response provisions, so that they may be considered, debated and voted on in isolation on their individual merits”.

Steggall's amendment text

That all words after “acknowledging” be omitted with a view to substituting the following words:

“the role of gas companies in influencing the drafting of this bill, the House declines to give the bill a second reading as it is of the opinion that:

(1) the bill should:

(a) adopt an 80 per cent deductions cap for the Petroleum Resource Rent Tax, lowered from the current 90 per cent, which would double the amount of revenue subject to the 40 per cent Petroleum Resource Rent Tax for that year and remain consistent with Treasury advice provided to the Government; and

(b) abolish the seven-year exemption to the deductions cap which supports the development of new oil and gas projects and is contrary to the Government’s claim to be committed to the Paris Agreement and keeping global warming below two degrees; and

(2) the Government must stop presenting omnibus bills of this nature to the House combining complex, disparate policy issues that require greater interrogation and consideration than is currently allowed for whilst also undermining the Government’s own credibility to present a clear, coherent policy programme”.