The final report from an inquiry into the tax treatment of Australian oil and gas resources, including any proposals for changes to the tax treatment of gas production and export.

The views and recommendations of committee members are presented in the report. The committee has not been able to reach agreement on a set of recommendations on Australia's approach to the taxation of its gas resources. 

Key findings

• The committee received substantial evidence that Australians want to receive a fair return for Australia's gas resources.
• The committee invites the government to reconsider this issue following the resolution of the current conflict in Iran.
• The committee received evidence from gas industry representatives that the current tax settings are sufficient.
• The lack of timely, transparent entity-level data continues to make it difficult for industry, government and the community to have a shared understanding of revenue, profits and PRRT liabilities.