O75 Public Administration

South Australia to release water for drought relief

roymorgansocial Leave a comment

Original article by Matthew Cranston, Simon Evans
The Australian Financial Review – Page: 5 : 8-Nov-19

South Australia will release 100 billion litres of water to the federal government so that up to 6,000 drought-impacted farmers can grow fodder for their stock. The federal government will pay the South Australian government $88 million for the water, while it will also give it a $10 million ‘sweetener’ to help the South Australian government assist its own drought-impacted farmers. South Australian Premier Steven Marshall says the deal with the federal government will not lead to higher water prices or put at risk the state’s water security.

CORPORATES
SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET

ALP review: Labor is weak, risky and unpopular

roymorgansocial Leave a comment

Original article by Geoff Chambers, Simon Benson, Greg Brown
The Australian – Page: Online : 8-Nov-19

Labor leader Anthony Albanese will use a speech to the National Press Club on 8 November to respond to Craig Emerson and Jay Weatherill’s post-election review of the party. Albanese is expected to endorse all 26 of their recommendations, while the review listed 60 ‘findings’. Emerson and Weatherill stated Labor’s inability to adapt its strategy to tackle Scott Morrison and a "cluttered policy agenda that looked risky" were key factors behind what was its third successive federal election defeat. They said Labor should not abandon its commitment to social justice, but that it should avoid becoming a "grievance-focused organisation".

CORPORATES
AUSTRALIAN LABOR PARTY

Wages rising faster than cost of living – for most

roymorgansocial Leave a comment

Original article by Matthew Cranston
The Australian Financial Review – Page: 5 : 7-Nov-19

Data from the Australian Bureau of Statistics shows that the cost of living for working households increased by 0.1 per cent in the September quarter, and 1.3 per cent in the year to September. This compares with wage growth of 2.3 per cent. The figures also show that the cost of living for age pensioners increased by 0.4 per cent in the September quarter and 1.7 per cent year-on-year. The cost of living for self- funded retirees in turn rose by 0.9 per cent in the quarter and an above-inflation 1.9 per cent in the year to September.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, BIS OXFORD ECONOMICS PTY LTD, LATERAL ECONOMICS

Fast-track personal tax cuts: banks

roymorgansocial Leave a comment

Original article by John Kehoe
The Australian Financial Review – Page: 5 : 7-Nov-19

The second stage of the federal government’s income tax package is slated to take effect in mid-2022. However, Westpac’s chief economist Bill Evans has urged the government to begin phasing in the tax cuts from July 2020 to boost consumer spending and stimulate the economy. Commonwealth Bank economist Gareth Aird also argues that the government should bring forward some of the legislated tax cuts. Shadow treasurer Jim Chalmers says Labor has been advocating this for months.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY

Underpay bosses face bans

roymorgansocial Leave a comment

Original article by Ewin Hannan
The Australian – Page: 1 & 4 : 7-Nov-19

Industrial Relations Minister Christian Porter says the first responsibility of an employer is to ensure that their staff are being paid fairly. Porter has flagged the possibility of making company directors liable for wage theft by banning them from future directorships, although he adds that such legislation is unlikely to be retrospective. Porter also says there is merit in a proposal to allow the Fair Work Commission to hear claims for underpayment by individual workers, as suggested by ACTU secretary Sally McManus.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT, SKILLS, SMALL AND FAMILY BUSINESS, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, ACTU, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. FAIR WORK OMBUDSMAN

$1bn for business, farms to beat dry

roymorgansocial Leave a comment

Original article by Simon Benson
The Australian – Page: 1 & 6 : 7-Nov-19

The federal government will release details of a drought assistance package on 7 November. Small businesses in drought-affected areas will be offered concessional loans of up to $500,000, while farmers who qualify for an existing concessional loan scheme will be offered a two-year interest-free period. Meanwhile, shadow agriculture minister Joel Fitzgibbon has called for a national drought strategy and urged the government to release the full report of the drought taskforce review that was undertaken by Major General Stephen Day.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF AGRICULTURE AND WATER RESOURCES

$9b tax hole linked to Airbnb-style deals

roymorgansocial Leave a comment

Original article by Duncan Hughes
The Australian Financial Review – Page: 9 : 6-Nov-19

The Australian Taxation Office estimates that some property owners have undeclared income of more than $70,000 a year in earnings from short-term rental platforms such as Airbnb. This has contributed to an income tax shortfall of around $9bn. The ATO has used data-matching technology to compare income from tax returns with financial records provided by rental platforms. The ATO will write to home owners asking them to review their tax return, their income earned and the expenses they have claimed.

CORPORATES
AUSTRALIAN TAXATION OFFICE, AIRBNB AUSTRALIA PTY LTD, STAYZ PTY LTD, HOMEAWAY.COM INCORPORATED, FLIPKEY, BOOKING.COM (AUSTRALIA) PTY LTD, IBISWORLD PTY LTD, BNBGUARD

Senator dubs Morrison plan attack on democracy

roymorgansocial Leave a comment

Original article by Andrew Tillett
The Australian Financial Review – Page: 7 : 6-Nov-19

The federal government requires the support of four Senate crossbenchers for its legislative crackdown on protestors who engage in secondary boycotts that target mining companies. However, the proposed legislation has been criticised by Centre Alliance senator Rex Patrick, who has expressed concern about the increasing erosion of civil liberties under the Coalition. Labor and the Greens also oppose the legislation.

CORPORATES
CENTRE ALLIANCE, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, LIBERAL PARTY OF AUSTRALIA, FOREST PRODUCTS ASSOCIATION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

What world’s biggest trade deal means to Australia

roymorgansocial Leave a comment

Original article by Andrew Tillett
The Australian Financial Review – Page: 4 : 6-Nov-19

The 15-nation Regional Comprehensive Economic Partnership will account for about 29 per cent of global GDP. Shiro Armstrong, from the Australian National University’s East Asian Bureau of Economic Research, says the trade deal will generate ‘incremental’ economic gains for Australia. Sectors such as education, professional services and manufacturing are amongst those that are expected to benefit from the trade deal.

CORPORATES
REGIONAL COMPREHENSIVE ECONOMIC PARTNERSHIP, AUSTRALIAN NATIONAL UNIVERSITY. EAST ASIAN BUREAU OF ECONOMIC RESEARCH

Make states raise own revenue, say Liberal MPs

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 6-Nov-19

Prime Minister Scott Morrison recently ruled out any increase in the goods and services tax. However, there is growing support within the Coalition’s ranks for an overhaul of fiscal relations between the federal and state governments. Some Liberal MPs have proposed giving the states more power to raise their own revenue. Former prime minister Malcolm Turnbull proposed such a move in 2016, whereby federal income tax rates would be reduced and the states would impose their own income tax to make up for the revenue shortfall.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, NEW SOUTH WALES. THE TREASURY