<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>A new </span><a href="http://9news.com.au/australia" rel="" target="" title="tax"><span>tax</span></a><span> on Australian gas sent offshore would bring in tens of billions of dollars a year, according to submissions to a </span><a href="http://9news.com.au/federal-politics" rel="" target="" title="Senate"><span>Senate</span></a><span> inquiry. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>There's a renewed push to slap a levy on exports but resource groups and the opposition are warning it would threaten the industry's future.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>A Senate committee examining changes to how Australia taxes gas, particularly LNG sent overseas, sat today.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/national/disgraced-socialite-brynne-edelsten-wins-bid-to-loosen-bail/3b2294dd-c29d-4e09-b217-bcebbc178d5a" rel="" target="" title=""><strong><span>Disgraced socialite wins bid to loosen bail</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The Australia Institute suggests a flat 25 per cent export tax would raise $17 billion and bring domestic prices down.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"An export tax solves all those problems," director Richard Denniss told the inquiry today.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"A windfall tax solves a lot of problems in theory and the one we've got right now solves virtually nothing."</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/australian-gas-exports-new-tax-would-make-australia-17-billion-and-cut-domestic-prices-senate-told/968d5f20-324e-47f9-9e3d-774f408497f2" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The change would bring Australia closer to other major exporters like Norway and Qatar, which make vastly more money from their gas exports.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Labor backbencher Ed Husic said a gas tax would be simple and provide more "direct benefit" but Opposition Leader Angus Taylor was far from supportive.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Do you want to shut down the gas industry in this country and do you want to have no fuel security in this country?" he said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>AS IT HAPPENED: </span></strong><a href="https://www.9news.com.au/world/us-israel-iran-war-live-updates-april-21-donald-trump-latest-world-news-headlines/a3b27603-36a5-443f-95e6-016216aef1ad"><strong><span>Why there's real risk war will now spin out of control</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Superpower Institute chief executive Baethan Mullen said some gas projects that would have gone ahead without the tax would no longer happen if it were imposed.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The gas industry argues it already paid $21.9 billion in tax last year alone.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Gas companies appearing tomorrow are likely to make the point that projects that don't go ahead don't generate tax revenue.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Dennis was dismissive of that line of argument.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"[Japanese oil and gas company] INPEX are currently seeking a new project in Norway. Right now," Dennis told the senate.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"They are taking the piss. They are mocking us. They are playing us for fools."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Konrad Benjamin, the face of popular social media channel Punter's Politics, said millions of regular Australians were now paying attention to how little Australia was making from gas royalties compared to Norway and Qatar. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"If it's profitable, they'll still come," he told the Senate.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Just like in Norway. They said they'd leave, guess what, they didn't."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Former Treasury secretary Ken Henry has also been a vocal supporter of taxing gas exports more.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Just do it. Just do it in the national interest and stop the crap that the Australian public has put up with for decades," he said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The push for more tax on gas coincides with the need for more money on the budget's bottom line.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Our policies about gas taxes haven't changed," Environment Minister Murray Watt said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><em><strong><span>NEVER MISS A STORY:</span></strong></em><span> </span><em><span>Get your breaking news and exclusive stories first by following us across all platforms.</span></em></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><ul><li><em><strong><span>Download the 9NEWS App here via</span></strong></em><span> </span><a href="https://apps.apple.com/au/app/9news/id1010533727" rel="" target="" title=""><em><strong><span>Apple</span></strong></em></a><span> </span><em><strong><span>and</span></strong></em><span> </span><a href="https://play.google.com/store/apps/details?id=nineNewsAlerts.nine.com&amp;hl=en_AU&amp;pli=1" rel="" target="" title=""><em><strong><span>Google Play</span></strong></em></a></li><li><em><strong><span>Make 9News your preferred source on Google by</span></strong></em><span> </span><a href="https://9.nine.com.au/8x987w" rel="" target="" title=""><em><strong><span>ticking this box here</span></strong></em></a></li><li><em><strong><span>Sign up to</span></strong></em><span> </span><a href="https://login.nine.com.au/edm?client_id=nineatnine" rel="" target="" title=""><em><strong><span>our breaking newsletter here</span></strong></em></a></li></ul></div></div>