Author: roymorgansocial

Independent contractors a major issue for Fair Work Ombudsman

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Original article by Cara Waters
The Sydney Morning Herald – Page: Online : 5-Sep-18

Sandra Parker supports comments by Tax Commissioner Chris Jordan that there are two grey areas regarding the distinction between employee and contractor that need clarification. One area that Jordan has identified is whether workers are paid to deliver a result or are paid for services provided; the other is if a worker gets 80 per cent of their income from one source, it is deemed to be income, even if they are a contractor. Parker, who was recently appointed as the new Fair Work Ombudsman, was speaking at a recent business summit. She also told the summit that she intended to continue the focus of her predecessor Natalie James on small business.

CORPORATES
AUSTRALIAN TAXATION OFFICE, AUSTRALIA. FAIR WORK OMBUDSMAN, FOODORA AUSTRALIA PTY LTD, VODAFONE AUSTRALIA LIMITED

Bishop condemns culture of bullying

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Original article by Stephen Brook
The Australian – Page: 5 : 6-Sep-18

Former foreign minister Julie Bishop said on 5 September that she has witnessed some appalling behaviour in federal parliament. Bishop, who was speaking at the "Australian Women’s Weekly" Women of the Future awards lunch, said that parliament’s workplace culture, which includes bullying and intimidation, would not be tolerated in any other Australian workplace. She says that parliament’s adversarial nature impacts on the political process, while she urged the Liberal Party to take steps to lift the number of its MPs who are women.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

Push to clamp down on activist charities

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Original article by John Ferguson
The Australian – Page: 5 : 6-Sep-18

It is understood that some members of the federal coalition want Greenpeace and the Australian Conservation Foundation to lose their charitable status because of their activist views. Both groups encourage their supporters to become politically active on issues such as Adani’s proposed coal mine and the end of power generated from gas and coal. Legislation would be needed to strip the two groups of their charitable status, and it would have to pass both houses of parliament. ACF CEO Kelly O’Shanassy says it abides by the law, a comment echoed by Greenpeace Australia Pacific program director Dominique Rowe.

CORPORATES
GREENPEACE, AUSTRALIAN CONSERVATION FOUNDATION INCORPORATED, AUSTRALIAN CHARITIES AND NOT-FOR-PROFITS COMMISSION, SUPREME COURT OF NEW ZEALAND, CATHOLIC EDUCATION MELBOURNE

Morrison resists milk levy

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Original article by Phillip Coorey
The Australian Financial Review – Page: 6 : 6-Sep-18

Agriculture Minister David Littleproud has proposed the adoption of a temporary $0.10 per litre on milk to help dairy farmers who are struggling with the drought and low milk prices. He says that Woolworths has indicated it was willing to support such a levy, which would raise around $250 million a year, provided that Coles did. Littleproud says he has spoken to the Coles CEO, who indicated to Littleproud that he is not so favourably disposed to the idea. Prime Minister Scott Morrison has indicated he is reluctant to support Littleproud’s proposal.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF AGRICULTURE AND WATER RESOURCES, WOOLWORTHS GROUP LIMITED – ASX WOW, COLES SUPERMARKETS AUSTRALIA PTY LTD

ScoMo wrong to lock in retirement age: experts

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Original article by Joanna Mather
The Australian Financial Review – Page: 6 : 6-Sep-18

Prime Minister Scott Morrison has announced the federal government will scrap plans to incrementally lift the age at which people qualify for the old age pension to 70 by 2035. His decision was applauded by Ian Yates, the CEO of seniors advocacy group COTA, who said the government should focus on lifting workplace participation rates for people over 55. However, Grattan Institute fellow Brendan Coates claimed the government’s decision would increase the tax burden on a declining working-age population, while Chris Richardson from Deloitte Access Economics described the decision as being "good politics but poor policy".

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, COTA AUSTRALIA LIMITED, GRATTAN INSTITUTE, DELOITTE ACCESS ECONOMICS PTY LTD

Sino Gas investors accept Lone Star bid

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 22 : 6-Sep-18

Sino Gas shareholders voted on 5 September to accept US private equity fund Lone Star’s $0.25 per share takeover bid for the company. The bid, which values Sino Gas at $530 million, was first tabled in May. Grant Thornton had deemed Lone Star’s offer "to be fair and reasonable", and it had the unanimous support of Sino Gas’s board. Sino Gas is the only Australian-based gas company with operations in China, having commenced production in the Shanxi province in late 2014.

CORPORATES
SINO GAS AND ENERGY HOLDINGS LIMITED – ASX SEH, LONE STAR FUNDS, GRANT THORNTON AUSTRALIA, TEMASEK HOLDINGS (PTE) LTD, OPHIR ENERGY PLC

AGL warns of gas squeeze in Victoria

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Original article by Perry Williams
The Australian – Page: Online : 6-Sep-18

AGL Energy executive Richard Wrightson warned on 5 September that Victoria faces gas shortages in the 2020s, with Bass Strait reserves running out and coal-seam gas from Queensland becoming more expensive. He said he hoped potential shortages could be partly addressed by AGL’s proposed LNG import facility at Crib Point, which AGL hopes to make a final decision on in 2019. Commenting on Labor’s plans to cap gas prices, Wrightson says this could discourage investment.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, AUSTRALIAN LABOR PARTY, SANTOS LIMITED – ASX STO, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED

BHP buys Solgold stake as battle with Newcrest heats up

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Original article by Peter Ker
The Australian Financial Review – Page: Online : 6-Sep-18

BHP Billiton has purchased a 6.1 per cent stake in Solgold, which operates a copper-gold project in Ecuador. It had previously sought to acquire a 10 per cent in Solgold in late 2016, but lost out to Newcrest Mining. Newcrest Mining is currently Solgold’s largest shareholder, owning around 14.5 per cent of the Brisbane-based company. BHP and Newcrest both have interests in Ecuador apart from their Solgold investment, while Fortescue Metals Group and Hancock Prospecting also have exploration tenements in Ecuador.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, SOLGOLD PLC, NEWCREST MINING LIMITED – ASX NCM, FORTESCUE METALS GROUP LIMITED – ASX FMG, HANCOCK PROSPECTING PTY LTD, GUYANA GOLDFIELDS INCORPORATED

Top 500 companies: booming housing construction boosts builders

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Original article by Michael Bleby
The Australian Financial Review – Page: Online : 6-Sep-18

Property and construction companies feature prominently towards the top of the latest list of Australia’s top 500 private companies. Meriton and BGC were in fifth and sixth place, as they were for the previous year, while Brisbane-based Hutchinson Builders rose two places to seventh. Its revenue rose 14.7 per cent to $2.65 billion, with revenue up 20 per cent in both Sydney and Melbourne. Metricon finished at 22nd place in the list, up from 48th place in 2017, while Built rose from 43rd place to 25th.

CORPORATES
MERITON APARTMENTS PTY LTD, BGC (AUSTRALIA) PTY LTD, HUTCHINSON BUILDERS, METRICON HOMES, BUILT PTY LTD, STOCKLAND – ASX SGP, RICHARD CROOKES CONSTRUCTIONS PTY LTD, THE STAR ENTERTAINMENT GROUP LIMITED – ASX SGR

Cosgrove to retire, G-G the PM’s pick

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Original article by Sam Buckingham-Jones
The Australian – Page: 1 & 9 : 5-Sep-18

Sir Peter Cosgrove has indicated he intends to retire as Governor-General when his five-year term ends in March. With the next federal election due before May, Bill Shorten recently asked Prime Minister Scott Morrison to extend Sir Peter’s term in office for six months or until after the election, stating this would allow an incoming prime minister to appoint a successor. However, Sir Peter’s comments indicate it will be the current government that makes that decision.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, QANTAS AIRWAYS LIMITED – ASX QAN, AUSTRALIAN CATHOLIC UNIVERSITY, AUSTRALIAN RUGBY FOOTBALL UNION