Christine Milne (Tasmania, Australian Greens) Share this | Hansard source

asked the Minister representing the Minister for Resources and Energy, upon notice, on 31 October 2011:

In regard to the statutory capped effective life for various categories of oil and gas assets established in section 40-102(5) of the Income Tax Assessment Act 1997:

(1) Has the department conducted, or is it aware of, any cost-benefit analysis for these tax breaks.

(2) Given the current high resource prices, does the department have any evidence that these tax breaks are needed to attract investment in the oil and gas sector.

(3) Are beneficiaries of these tax breaks required to meet any social or environmental criteria or otherwise provide any specific benefit to the taxpayer or the Australian community in return for getting the tax break.