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What's under this stoneAccountability journalism, source-first

Laws.

Nine federal laws and one bilateral trade agreement that, taken together, account for the largest documented transfers of public revenue to private beneficiaries in the contemporary Australian system. Each was passed through normal legislative process. Each is operating as written.

Laws indexed10
Annual revenue at stake~$61Bacross 10 sized laws
Articles published4of 10
§ 01

PRRT Compounding DeductionsTax

Gas companies accumulate tax credits indefinitely. Effective rate: 4% instead of 20%.

Petroleum Resource Rent Tax Assessment Act 1987, ss 32-35E$13B/yr reclaimableillustrativeRead § 01 →
Statutory textPRRTAA 1987, s 33(3)
Where the class 1 augmented bond rate general expenditure incurred by a person in a financial year in relation to a petroleum project exceeds the assessable receipts derived by the person in the financial year in relation to the project, an amount ascertained in accordance with the formula A (1.15 + B) is taken to be class 1 augmented bond rate general expenditure incurred by the person in relation to the project on the first day of the next succeeding financial year.
Verbatim from PRRTAA 1987, s 33(3). Last verified 2026-04-27.
§ 02

Electoral Funding DisclosurePolitical

No article yet
§ 03

Negative GearingHousing

Investors deduct rental losses against salary income. Inflates property prices, rewards speculation.

ITAA 1997, Division 36$4B/yr reclaimableillustrativeRead § 02 →
Statutory textITAA 1997, s 8-1(1)
You can deduct from your assessable income any loss or outgoing to the extent that: (a) it is incurred in gaining or producing your assessable income; or (b) it is necessarily incurred in carrying on a business for the purpose of gaining or producing your assessable income.
Verbatim from ITAA 1997, s 8-1(1). Last verified 2026-04-27.
§ 04

Capital Gains Tax DiscountHousing

50% discount on capital gains incentivises speculative holding over productive investment.

ITAA 1997, Division 115$8B/yr reclaimableillustrativeRead § 02 →
Statutory textITAA 1997, s 115-100(a)
The discount percentage for an amount of a discount capital gain is 50% if the gain is made by an individual, and neither section 115-105 nor 115-110 (about foreign or temporary residents) applies to the gain.
Verbatim from ITAA 1997, s 115-100(a). Last verified 2026-04-27.
§ 05

Procurement Amendment LoopholeProcurement

No article yet
§ 06

Fair Work Territorial LimitationLabour

No article yet
§ 07

AI-ECTA Technical Services ExemptionTrade

No article yet
§ 08

Australian Jobs Act ThresholdLabour

No article yet
§ 09

Transfer Pricing Under-enforcementTax

No article yet
§ 10

Fuel Tax Credit SchemeTax

Refunds diesel excise to off-road business users. Mining sector takes 47% of total payouts; coal mining alone exceeds the entire agriculture, forestry and fishing claim.

Fuel Tax Act 2006, Division 41$10.8B/yr reclaimableverifiedRead § 04 →
Statutory textFTA 2006, s 41-5(1)
You are entitled to a fuel tax credit for taxable fuel that you acquire or manufacture in, or import into, the indirect tax zone to the extent that you do so for use in carrying on your enterprise.
Verbatim from FTA 2006, s 41-5(1). Last verified 2026-05-03.

Cost figures are tiered verified estimated illustrative. The illustrative tier signals a number sized from related public-data inputs that has not yet been put to a single primary source. Where a tier is shown, the underlying calculation is in the repo at packages/data/src/intelligence/enabling-laws.ts.