Energy Minister Chris Bowen has repeatedly dodged questions about whether the government is investigating a tax on the profits of gas companies that benefit from rising global commodity prices.
The prime minister’s department asked the Treasury to outline options for taxing gas companies’ final profits, revising the Petroleum Resources Tax and corporate income tax, the ABC report said.
Asked about the report at a Brisbane press conference, Bowen said: “the budget is presented in May, not March” and “I don’t comment on cabinet processes”.
Asked if he could rule out changes to the tax system or if he sees fit in such a potential move, Bowen reiterated that he would not comment on cabinet processes.
“The budget will be presented in May, and I will not comment on cabinet processes today, tomorrow, or any time before budget day, and the budget will be presented by the Treasurer, not by the energy minister,” Bowen said.
The government has been opposed to creating a profit tax since its election in 2022, but changed the tax on oil resources in its first term, which Bowen said had obtained additional revenue of $ 2 billion from gas companies.
