In 2023-24 tax from the PRRT was less than an quarter the amount raised by HECS/HELP debts repayments.
Next week the Budget will reveal who is being taxed and who is not. In a fair society, some of the most profitable companies would be paying much more than students. But once again the budget will show that Australia collects much more from student debt repayments than the Petroleum Resource Rent Tax (PRRT).
While this is bad enough, the ATO’s most recent figures in its annual report reveals that this gap has widened: in 2023-24 the ATO collected more than four times more from student debt repayments than the PRRT.
This raises serious questions about what kind of…
