Economic cost of bushfires estimated at $2 billion and rising

Original article by Jessica Irvine
The Age – Page: Online : 7-Jan-20

Terry Rawnsley of SGS Economics & Planning estimates that the bushfires will reduce national gross domestic product by about 0.15 per cent in 2019-20. He adds that the economic cost to bushfire-affected regions will be within the range of $1.1bn to $1.9bn. Meanwhile, Shane Oliver of AMP Capital says the bushfire crisis is likely to reduce national economic output by between 0.25 per cent and 1 per cent, while economist Saul Eslake still expects the federal government to deliver a Budget surplus for 2019-20.

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SGS ECONOMICS AND PLANNING PTY LTD, AMP CAPITAL INVESTORS LIMITED

PM’s $2bn recovery vow

Original article by Ben Packham, Olivia Caisley
The Australian – Page: 1 & 4 : 7-Jan-20

The federal government will provide the National Bushfire Recovery Agency with initial funding of $2bn, which will be used to support communities that have been devastated by the bushfires. The funding will be used to rebuild critical infrastructure, provide grants to small businesses and farmers, and to offer mental health support for people who have been affected by the disaster. Prime Minister Scott Morrison has emphasised that recovering from the bushfires is a greater priority for the government than a Budget surplus. He adds that the government’s climate change policies will not be reviewed as a result of the disaster.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY

More hazard-reduction burns not the answer, experts warn

Original article by Mike Foley
The Sydney Morning Herald – Page: Online : 7-Jan-20

Prime Minister Scott Morrison says the issue of hazard management in national parks will be on the agenda for the next Council of Australian Governments meeting in March. Morrison has called for more emphasis on hazard-reduction burns in response to the bushfire crisis. Associate Professor Philip Zylstra from the University of Wollongong argues that more prescribed burning has been undertaken in the last decade than in many years. He adds that a large increase in hazard reduction burns would heighten fire risks and affect air quality in cities and towns during the winter months.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, COUNCIL OF AUSTRALIAN GOVERNMENTS, UNIVERSITY OF WOLLONGONG

Will Australia win from new tax rules?

Original article by Tom McIlroy
The Australian Financial Review – Page: 3 : 6-Jan-20

The OECD and the Group of 20 are heading an initiative to re-write international tax laws to cope with the digital age. The proposed system could include an effective minimum rate of global tax and the adoption of new global allocation rules. Some countries have sought to act unilaterally in the adoption of digital services taxes on US digital companies like Google and Facebook, but the Trump administration has sought to ‘punish’ such countries by the imposition of tariffs. There are hopes a new international tax system could be in place by the end of 2020, but some tax experts have their doubts.

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ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, GROUP OF TWENTY (G-20), FACEBOOK INCORPORATED, GOOGLE INCORPORATED

$15b small business tax debt in sights

Original article by Tom McIlroy
The Australian Financial Review – Page: 7 : 6-Jan-20

Inspector-General of Taxation and Taxation Ombudsman Karen Payne is conducting a probe into the Australian Taxation Office’s $45 billion debt book. Payne’s examination includes the investigation of around $15 billion in small business debt to the ATO, with Payne saying her review will help to identify which areas of the economy are seeing increases in undisputed debt collections. As well as her review of the ATO’s debt book, Payne’s office is also investigating the tax administration of deceased estates.

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AUSTRALIAN TAXATION OFFICE

PM stumps up for fire crisis

Original article by Rosie Lewis
The Australian – Page: 1 & 2 : 6-Jan-20

The federal government has appointed former Australian Federal Police commissioner Andrew ­Colvin to head its national bushfire recovery agency. It will finance the reconstruction of critical infrastructure that has been damaged or destroyed, as well as providing income and mental health support for people who have been affected by the disaster. Prime Minister Scott Morrison has ruled out asking the states to match the federal government’s funding. Natural Disaster and Emergency Management Minister David Littleproud has stressed the need to ensure that government support is tailored to each community that has been affected by the bushfires.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, VICTORIA. DEPT OF TREASURY AND FINANCE, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, AUSTRALIAN FEDERAL POLICE

Morrison won’t rule out bushfires royal commission

Original article by Rosie Lewis
The Australian – Page: 1 & 2 : 6-Jan-20

Prime Minister Scott Morrison says the federal government is open to holding a royal commission into the bushfire crisis. Morrison says there is broad agreement on the need for a review of factors that contributed to the devastating bushfire season and the response to the disaster, but he stresses that now is not the right time to apportion blame for the crisis. Issues such as land clearing and hazard reduction will be on the agenda for the next Council of Australian Governments meeting in March.

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AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIAN LABOR PARTY, NEW SOUTH WALES RURAL FIRE SERVICE

Woman dies from bushfire smoke in Canberra after exiting plane

Original article by
news.com.au – Page: Online : 3-Jan-20

An elderly woman has died after apparently going into respiratory distress after disembarking from a Qantas plane onto the tarmac at Canberra Airport on 2 January. Canberra is being blanketed by smoke from the New South Wales bushfires, and its air quality is currently worse than Delhi, Mumbai and Beijing. A Qantas spokesperson has said it had received no reports of passengers being unwell on the flight, with the plane having come from Brisbane.

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QANTAS AIRWAYS LIMITED – ASX QAN

NSW Premier Gladys Berejiklian declares state of emergency, as thousands flee South Coast ahead of horror fire weekend

Original article by Kevin Nyugen, Emma Elsworthy
abc.net au – Page: Online : 3-Jan-20

New South Wales Premier Gladys Berejiklian has declared a seven-day state of emergency for NSW as from 9am on 3 January, due to the state’s ongoing bushfires. NSW Rural Fire Service Commissioner Shane Fitzsimmons says conditions on 4 January are likely to be worse than those on New Year’s Eve; temperatures are predicted to reach 41 degrees Celsius on the South Coast. A ‘tourist leave zone’ has been declared by the RFS for a 14,000-square-kilometre area between Nowra and the edge of the Victorian border. The RFS has revealed 382 homes were destroyed by fires on the South Coast on New Year’s Eve, bringing to 1,298 the number of homes lost during the current bushfire season.

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NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, NEW SOUTH WALES RURAL FIRE SERVICE

Bushfires prompt Victorian Premier Daniel Andrews to declare state of disaster as blazes bring unprecedented risk

Original article by Brad Ryan
abc.net au – Page: Online : 3-Jan-20

Victorian Premier Daniel Andrews has declared a State of Disaster for six local government areas and three alpine resorts as the state’s bushfire crisis threatens to get worse. The six LGAs include the Mansfield Shire and the East Gippsland Shire, while Mt Buller is one of the three alpine resorts. The State of Disaster declaration, which applies for a week, was one of the recommendations of the Royal Commission into the 2009 Black Saturday bushfires. In making his announcement, Andrews stated a second person had died during the current bushfires, but declined to give any further details, while 17 people remain missing. Over 780,000 hectares have been burnt so far in Victoria, while there are currently 50 ongoing fires.

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VICTORIA. DEPT OF PREMIER AND CABINET