Coalition accepts in-principle the recommendations from the Callaghan review which concluded Australians weren’t necessarily being unfairly compensated for exploitation of their natural resources

Scott Morrison says the Turnbull government has accepted in-principle the 12 recommendations from the Callaghan Review of the controversial petroleum resource rent tax (PRRT).

He says the PRRT does not need overhauling, and remains “the preferred way” to achieve a fair return to the community without discouraging investment. He has released a consultation paper suggesting ways the PRRT can be improved, with changes to affect only future projects.

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