Author: roymorgansocial

PM scrambles for a tax policy

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 9-Feb-16

Treasurer Scott Morrison says tax reform will be included in the May 2016 Budget, although the Australian Government has backed down on its proposal to increase the GST. It will instead look at options such changes to superannuation tax concessions and reducing income tax rates via the abolition of tax deductions for work-related expenses. However, Morrison has ruled out making any changes to the negative gearing regime.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY, AUSTRALIAN TAXATION OFFICE

Infrastructure financial backing falls by $16b

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Original article by Jacob Greber
The Australian Financial Review – Page: 6 : 8-Feb-16

The "asset recycling program" that was announced in the Australian Government’s May 2014 Budget was expected to generate $A126.3bn worth of infrastructure investment by the states and the private sector. However, new figures show that this estimate has been scaled back to $A110bn. The Federal Government’s original proposal to invest $A50bn on infrastructure projects has in turn been reduced by $A1.4bn.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIAN LABOR PARTY, AUSTRALIAN NATIONAL UNIVERSITY. CRAWFORD SCHOOL OF ECONOMICS AND GOVERNMENT

Unlock gas reserves, states told

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Original article by Annabel Hepworth
The Australian – Page: 19 : 8-Feb-16

A report by the Office of the Chief Economist highlights the gas industry’s contribution to the Australian economy. It estimates that gas accounted for 407.6 petajoules of the manufacturing industry’s final energy consumption in 2013-14, compared with just 225.6 petajoules of electricity. It also notes that the gas industry has a workforce of about 155,000. Australian Pipelines & Gas Association CEO Cheryl Cartwright says the report demonstrates the need for a greater focus on supplying gas for domestic use rather than to export markets.

CORPORATES
AUSTRALIA. OFFICE OF THE CHIEF ECONOMIST, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIAN PIPELINES AND GAS ASSOCIATION, AGL ENERGY LIMITED – ASX AGL, SANTOS LIMITED – ASX STO, NEW SOUTH WALES MINERALS COUNCIL, ENERGY USERS ASSOCIATION OF AUSTRALIA, THE AUSTRALIAN INDUSTRY GROUP

Unemployment rises to 10.3% in January – Under-employment down from record high in December

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 5-Feb-16

A Roy Morgan Research survey on Australia’s labour market has found that the real unemployment rate was 10.3 per cent in January 2016. The number of people in the workforce has risen to a record 13,098,000 (up 471,000 since January 2015), and a record 11,752,000 Australians are employed (up 358,000 in the last 12 months). Meanwhile, the number of people who are under-employed has risen by 196,000 in the last 12 months to 1,229,000 (9.4 per cent of the workforce). The official unemployment rate was 5.8 per cent in December 2015. Roy Morgan Research executive chairman Gary Morgan says Australia’s outdated industrial relations laws and work practices can only be properly reformed if the "cash economy" is tackled at the same time – otherwise any efforts at IR reform will be of limited benefit, as Government revenue increases will be negligible.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Tax options shrink after GST retreat

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Original article by David Crowe
The Australian – Page: 1 & 4 : 8-Feb-16

The Australian Government may be reconsidering its plans to increase the GST, after Prime Minister Malcolm Turnbull suggested that there may be no net benefit from increasing the tax and cutting personal income tax rates. The Government is expected to look at alternatives such as changes to the negative gearing regime for property investors. However, Business Council of Australia CEO Jennifer Westacott says her organisation’s modelling shows that a GST increase that is offset by income tax cuts would be the best to boost the economy.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, THE AUSTRALIA INSTITUTE LIMITED, UNIVERSITY OF CANBERRA. NATIONAL CENTRE FOR SOCIAL AND ECONOMIC MODELLING, AUSTRALIA. DEPT OF THE TREASURY

A-League takes shot at TV windfall

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Original article by Darren Davidson
The Australian – Page: 23 : 8-Feb-16

Fox Sports Australia and SBS paid $A160m for their current four-year broadcasting rights deal with Football Federation Australia. However, FFA is said to be potentially seeking up to $A80m extra from the next broadcasting rights deal, which is also expected to attract interest from the three commercial free-to-air networks.

CORPORATES
FOOTBALL FEDERATION AUSTRALIA LIMITED, FOX SPORTS AUSTRALIA PTY LTD, SPECIAL BROADCASTING SERVICE (SBS), SEVEN NETWORK LIMITED, NINE NETWORK AUSTRALIA LIMITED, TEN NETWORK HOLDINGS LIMITED – ASX TEN, OLIVER AND OHLBAUM, ENGLISH PREMIER LEAGUE, DFL DEUTSCHE FUSSBALL LIGA GMBH, THE A LEAGUE PTY LTD, SOCCEROOS, REAL MADRID FOOTBALL CLUB, MANCHESTER CITY FOOTBALL CLUB, ASSOCIAZIONE SPORTIVA ROMA SPA, AUSTRALIAN OPEN TENNIS, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, CRICKET AUSTRALIA, TELSTRA CORPORATION LIMITED – ASX TLS

House buyers flock back to revitalise Sydney clearance rates

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 2 : 8-Feb-16

CoreLogic RP Data reports that Sydney’s residential property market boasted an auction clearance rate of 70.2 per cent on the weekend of 6-7 February 2016. This compares with a clearance of just 44.9 for the previous weekend, although the number of homes that were auctioned rose from 61 to 265. The clearance rate in Melbourne was 80.1 per cent, compared with 69.9 per cent one week earlier.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, WARWICK WILLIAMS REAL ESTATE, SQM RESEARCH PTY LTD, RESERVE BANK OF AUSTRALIA

Rio set to slash share dividend payout

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Original article by Amanda Saunders
The Australian Financial Review – Page: 13 & 18 : 8-Feb-16

Most analysts expect Rio Tinto’s full-year dividend for 2015 to be $US2.21 per share, compared with $US2.15 previously. However, there is growing speculation that Rio will review its progressive dividend policy after the release of its full-year results on 11 February 2016. BHP Billiton is also widely tipped to abandon its progressive dividend policy, and Pengana Capital’s Tim Schroeders notes that there would be little benefit for Rio in being the only large miner to retain this policy.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, PENGANA CAPITAL LIMITED, VALE SA, GLENCORE PLC, ANGLO AMERICAN PLC, AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED – ASX AFI, STANDARD AND POOR’S CORPORATION, ALCAN INCORPORATED, UBS HOLDINGS PTY LTD, CITIGROUP PTY LTD

Nine mulls a punt on fantasy betting market

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Original article by Jake Mitchell
The Australian – Page: 25 : 8-Feb-16

Australian media companies are hoping to capitalise on the growing popularity of fantasy betting. Nine Entertainment Company is believed to be keen to enter the market, while News Corp Australia has had discussions with Moneyball. Meanwhile, Australian-listed TopBetta recently held talks with both News Corp and Seven West Media. Fantasy betting is also attracting interest from gambling companies such as CrownBet.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, MONEYBALL, TOPBETTA HOLDINGS LIMITED – ASX TBH, SEVEN WEST MEDIA LIMITED – ASX SWM, CROWNBET PTY LTD, TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, LADBROKES, FAIRFAX MEDIA LIMITED – ASX FXJ, DRAFTKINGS, FANDUEL

Optus prepares for Premier League debut

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 8-Feb-16

Australian telco Optus has yet to provide much detail of its packages for access to English Premier League matches, with its exclusive broadcasting contract to begin in August 2016. However, the telco is said to be planning to introduce a direct-to-consumer subscription-based streaming service for mobile devices and PCs. It is expected to be available to customers of rival telcos, although they will pay a higher price than Optus customers.

CORPORATES
SINGTEL OPTUS PTY LTD, ENGLISH PREMIER LEAGUE, SINGAPORE TELECOMMUNICATIONS LIMITED, FOXTEL MANAGEMENT PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, MANCHESTER UNITED FOOTBALL CLUB, LIVERPOOL FOOTBALL CLUB PLC, ARSENAL FOOTBALL CLUB PLC, AL JAZEERA, BEIN SPORTS, UNION EUROPEENNE DE FOOTBALL ASSOCIATION, DFL DEUTSCHE FUSSBALL LIGA GMBH, FETCHTV PTY LTD, APPLE INCORPORATED, FOX SPORTS AUSTRALIA PTY LTD, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, STAN ENTERTAINMENT PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC