Author: roymorgansocial

Ralph slams iron ore tax hike

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Original article by Paul Garvey
The Australian – Page: 13 & 18 : 12-Jan-17

Former mining industry executive John Ralph says Western Australia’s reputation as an investment destination would be severely damaged if an increase in the iron ore levy were to proceed. WA National Party leader Brendan Grylls has proposed to increase the levy paid by BHP Billiton and Rio Tinto from $A0.25 per tonne to $A5, although it is opposed by both the Liberal and Labor parties. Ralph is a former CEO and MD of CRA, which subsequently became Rio Tinto. He was working for CRA when the iron ore production levy was introduced in the 1960s.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, CRA LIMITED, NATIONAL PARTY OF AUSTRALIA, LIBERAL PARTY OF WESTERN AUSTRALIA, AUSTRALIAN LABOR PARTY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, TELSTRA CORPORATION LIMITED – ASX TLS, FOSTER’S GROUP LIMITED

Shorten family election travel bill triple PM’s

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Original article by Rachel Baxendale
The Australian – Page: 2 : 12-Jan-17

The travel costs of Australia’s political leaders has come under scrutiny in the wake of the expenses scandal that has embroiled Health Minister Sussan Ley. It has been revealed that Opposition Leader Bill Shorten claimed $A51,531 in travel expenses for himself and his family in the first half of 2016. In contrast, Prime Minister Malcolm Turnbull was reimbursed just $A14,441 in travel expenses during the period. Meanwhile, Turnbull is tipped to receive the findings of the inquiry into Ley’s travel expenses in coming days.

CORPORATES
AUSTRALIA. DEPT OF HEALTH, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF FINANCE

Key predictor levels to keep a wary eye on

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Original article by Jessica Sier
The Australian Financial Review – Page: 25 : 12-Jan-17

There are a number of market thresholds that Australian investors should take into account when determining their portfolio strategy for 2017. These include the 20,000-point level for the Dow Jones Industrial Average and 6,000 points for Australia’s benchmark S&P/ASX 200, parity between the US dollar and the euro, $US60 a barrel for crude oil and a US bond yield of 2.6 per cent.

CORPORATES
DOW JONES INDUSTRIAL AVERAGE INDEX, STANDARD AND POOR’S ASX 200 INDEX, DOUBLELINE CAPITAL LP, CREDIT SUISSE (AUSTRALIA) LIMITED, ORGANISATION OF PETROLEUM EXPORTING COUNTRIES, THE GOLDMAN SACHS GROUP INCORPORATED, MICROSOFT CORPORATION, WALT DISNEY COMPANY, McDONALD’S CORPORATION

Mining states hit by sharp drop in home loan activity: AFG

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Original article by Michael Roddan
The Australian – Page: 15 : 12-Jan-17

Listed mortgage broker Australian Finance Group has reported 9.9 per cent growth in home loan lodgements nationwide in calendar 2016. However, there was a 16 per cent downturn in loan lodgements in Western Australia, while lodgements fell by 18 per cent in the Northern Territory. Meanwhile, AFG CEO Brett McKeon says the WA Government’s decision to temporarily increase the first-home owners’ grant by $A5,000 for new homes is unlikely to significantly boost construction activity in the residential property market.

CORPORATES
AUSTRALIAN FINANCE GROUP LIMITED – ASX AFG, REAL ESTATE INSTITUTE OF WESTERN AUSTRALIA, DIGITAL FINANCE ANALYTICS

Vale Leonard French, artist who let the glass shine

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Original article by Ashleigh Wilson
The Australian – Page: 5 : 12-Jan-17

National Gallery of Victoria director Tony Ellwood has praised award-winning Australian artist Leonard French, who has died at the age of 88. French began his career in the signwriting industry before becoming widely known for his paintings, mosaics and murals. However, his most famous work is the stained glass ceiling in the NGV’s Great Hall, which comprises about 10,000 individual pieces of coloured glass.

CORPORATES
NATIONAL GALLERY OF VICTORIA, NATIONAL GALLERY OF AUSTRALIA

Culleton to fight Senate axing

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Original article by Rosie Lewis
The Australian – Page: 2 : 12-Jan-17

Former One Nation senator Rod Culleton has been formally disqualified from holding a seat in the upper house after a court ruled that he was an undischarged bankrupt. Culleton intends to challenge the ruling, arguing that he was not insolvent and a lawyers’ trust held sufficient funds to meet his debt obligations. Culleton was declared bankrupt over $A280,000 owed to businessman Dick Lester. His eligibility to contest the 2016 election is yet to be determined by the Court of Disputed Returns.

CORPORATES
ONE NATION PARTY, COURT OF DISPUTED RETURNS, HIGH COURT OF AUSTRALIA, FEDERAL COURT OF AUSTRALIA

Confidence in property hits two-year high

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Original article by Matthew Cranston
The Australian Financial Review – Page: 7 : 12-Jan-17

A survey by the ANZ Bank and the Property Council of Australia has found that confidence in the nation’s residential and commercial property markets has risen to its highest level in two years. The Property Confidence Index has risen by two points to 130 points for the March 2017 quarter, and Western Australia is the only state that has not recorded a rise in confidence. Interest rate expectations over the next 12 months have also risen significantly, particularly nationally and in New South Wales.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, PROPERTY COUNCIL OF AUSTRALIA LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, UNITED STATES. FEDERAL RESERVE BOARD, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION

Fifield turns to crossbench support to force media reform over the line

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Original article by Max Mason
The Australian Financial Review – Page: 18 : 12-Jan-17

The Australian Government’s cross-media ownership bill was passed by the lower house in November 2016. However, the support of cross-benchers may be crucial to the Government’s chances of the bill being passed by the Senate. The Australian Labor Party opposes abolition of the "two out of three rule", but the majority of cross-benchers are said to be generally supportive of the bill in its present form. Cross-benchers may seek some compromises in negotiations with the Government.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ONE NATION PARTY, NICK XENOPHON TEAM

Tax office in stunning U-turn on gold fraud

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Original article by Robert Gottliebsen
The Australian – Page: 19 : 12-Jan-17

Under the Howard government’s tax reforms, Australian gold refiners were required to pay GST on gold that is not of investment grade, although investment-grade gold in bars did not attract GST. Refiners warned the Australian Taxation Office that the system was subject to widespread fraud, which is estimated to have cost taxpayers around $A600m. The ATO targeted gold refiners, believing that they were involved in the massive tax fraud, and its actions threatened the nation’s entire refining industry. The ATO subsequently backed down in late 2016 and agreed to measures first proposed by gold refiners some three years earlier. They will now be permitted to buy high-purity gold that is not marked as being of investment grade without attracting GST.

CORPORATES
AUSTRALIAN TAXATION OFFICE, FOCUS MINERALS LIMITED – ASX FML, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, AUSTRALIA. OFFICE OF THE INSPECTOR-GENERAL OF TAXATION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY

Who are Australia’s union members? You may be surprised

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 12-Jan-17

A Roy Morgan Single Source survey has found that 17.4% (or 1.9 million) Australians aged 14+ who are in full or part-time employment were members of a trade union in the year to September 2016. Union membership is highest among those employed in Public Administration and Defence, at 28.7% (or 201,000 people), followed by Community Services (27.5%, or almost one million people) and Electricity, Gas and Water (27.3%, or 98,000 people). The survey also shows that Education Professionals have the highest level of union membership, at 42.4% (383,000 people), while 28.1% of Australian Labor Party voters belong to a union, compared with just 11.8% of Liberal-National Party voters.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA