Skip to content The government initiated a review of the PRRT in November 2016, after PRRT revenue had declined markedly. Mike Callaghan AM PSM led it.Source: Senate Economics Committee, PRRT bill report... In 1975 the economists Ross Garnaut and Anthony Clunies Ross published “Uncertainty, Risk Aversion and the Taxing of Natural Resource Projects” in the Economic Journal. Their resource rent tax waits until a project has paid back its costs plus a set rate... The Turnbull government announced a review of the PRRT on 30 November 2016, after collections fell sharply. Mike Callaghan’s report was released on 28 April 2017. It found the fall in revenue did not, in itself, show the community was being short-changed, and... 