They are making use of generous deductions they receive for costs incurred in exploring for new reserves
Generous tax offsets for oil and gas companies to search for new fossil fuel reserves are wiping out their need to pay any of the country’s main resources tax.
Figures released by the Australian Taxation Office and BP show the companies are paying nothing in petroleum resources rent tax – designed to compensate Australians for the exploitation of national resources.
Related: Australia widens legislation to target more companies for tax avoidance
Related: You’re not a ‘bludger’ if you pay no net tax in Australia | Greg Jericho