O75 Public Administration

Government flags heavy-handed crackdown on black economy

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Original article by Mike Bruce
The New Daily – Page: Online : 21-Aug-19

Gary Pflugrath of CPA Australia says the federal government should reconsider proposed legislation to restrict cash payments between businesses and individuals to no more than $10,000. It was one of the recommendations of the government’s Black Economy Taskforce, but Pflugrath contends that there are sufficient "checks and balances" to counter criminal activity. Kurt Wallace from the Institute of Public Affairs says restricting cash payments would have little impact on the cash economy, while reducing the freedoms of ordinary Australians. Individuals could face big fines and imprisonment for breaching the proposed laws.

CORPORATES
CPA AUSTRALIA, INSTITUTE OF PUBLIC AFFAIRS LIMITED, H&R BLOCK LIMITED, ONE NATION PARTY, UNIVERSITY OF MELBOURNE

Australians should get used to US-China trade war as superpowers tussle for supremacy

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Original article by
News.com.au – Page: Online : 21-Aug-19

Prime Minister Scott Morrison has warned that the trade war between the US and China may continue for some, while noting that the ongoing trade tensions could create opportunities for Australia. Morrison has also told the Seven Network that due to its economic success, China must abide by the same rules as other nations. Morrison will shortly attend the Group of Seven leaders’ summit in France.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, GROUP OF SEVEN (G-7)

Dramatic fall in enterprise agreement delays

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 6 : 21-Aug-19

Data from the Fair Work Commission shows that it took an average of 35 days to approve enterprise bargaining agreements in the last six months, and an average of just 30 days in the 2018-19 financial year. The FWC has previously attracted criticism from the Australian Mines & Metals Association, which claimed that the average time it takes to approve an EBA had blown out to 76 days. AMMA CEO Steve Knott says delays in approving EBAs are being exacerbated by the way the FWC applies the ‘better-off-overall test’.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), AUSTRALIA. DEPT OF EMPLOYMENT, SKILLS, SMALL AND FAMILY BUSINESS

Your data at risk in takeovers

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Original article by Glenda Korporaal
The Australian – Page: 1 & 2 : 21-Aug-19

Foreign Investment Review Board chairman David Irvine has stressed the need to closely scrutinise foreign bids for companies that own data centres or hold Australians’ personal data. Irvine has used an Australia China Business Council speech to argue that data must be afforded the same level of protection as critical infrastructure such as ports, water supply and the power sector. He added that the FIRB’s tougher stance on the issue of data security has not attracted much concern among foreign investors.

CORPORATES
AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIA CHINA BUSINESS COUNCIL, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, AUSTRALIAN SECRET INTELLIGENCE SERVICE, AUSTRALIA. CRITICAL INFRASTRUCTURE SECTOR, SIRTEX MEDICAL LIMITED, NATURE’S CARE, LIFE-SPACE GROUP, HEALIUS LIMITED – ASX HLS, JANGHO GROUP, AUSTRALIAN DEFENCE FORCE, KPMG AUSTRALIA PTY LTD, UNIVERSITY OF SYDNEY, AUSTRALIAN STRATEGIC POLICY INSTITUTE LIMITED

Climate failures cost us: ALP poll review

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Original article by Troy Bramston
The Australian – Page: 1 & 4 : 21-Aug-19

A submission to Labor’s review of its 2019 federal election campaign has contended that lack of sufficient detail of the party’s climate change policy contributed to its surprise defeat on 18 May. The Labor Environment ­Action Network’s submission notes that the Opposition’s climate change action plan did not outline how much it would cost, how it would be funded or what economic benefits it would have. LEAN members also argue that Labor’s franking credits policy and its stance on Adani’s Carmichael coal mine also contributed to its election loss.

CORPORATES
AUSTRALIAN LABOR PARTY, ADANI MINING PTY LTD

ANZ-Roy Morgan Consumer Confidence down to 112.8

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Original article by Roy Morgan
Market Research Update – Page: Online : 21-Aug-19

ANZ-Roy Morgan Australian Consumer Confidence fell 2.3% to 112.8 in the week ended 18 August, closing below the long-term average. Households’ views towards current financial conditions rose 0.2%, and views towards future financial conditions gained 0.6%. However, consumers’ views toward current economic conditions fell 3.8%, and views toward future economic conditions fell 7.9%; both of the economic subindices are now below their respective long-term average. The ‘time to buy a major household item’ index fell 1.4%, its third consecutive decline; the four-week moving average for inflation expectations fell 0.1ppt to 3.9%

CORPORATES
ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Gillard’s IR laws need rework: Lib MPs

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 20-Aug-19

Liberal MPs Tim Wilson, Jason Falinski and Andrew Bragg have called for changes to unfair dismissal laws that were introduced when Julia Gillard was the Labor government’s industrial relations minister. The trio argues that Labor’s Unfair Dismissal Code has also been ineffective, and the number of unfair dismissal cases heard by the Fair Work Commission has risen sharply under Labor’s reforms. A recent review of the code by Small Business Ombudsman Kate Carnell recommended 15 changes to it.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. OFFICE OF THE AUSTRALIAN SMALL BUSINESS AND FAMILY ENTERPRISE OMBUDSMAN

Transacting $10,000 or more in cash could make you a criminal under proposed law

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Original article by Nassim Khadem
abc.net au – Page: Online : 20-Aug-19

The 2018-19 federal Budget included a proposal that would restrict cash payments to businesses to no more than $10,000. The measure was recommended by the federal government’s Black Economy Taskforce; those who infringe the proposed measure if it is legislated could be fined up to $25,000 or jailed for two years. One Nation has indicated that it will vote against legislation, while the Australian Chamber of Commerce & Industry is among a number of organisations that oppose the measure.

CORPORATES
ONE NATION LIMITED, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY

Baby Boomers put squeeze on the young

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Original article by John Kehoe
The Australian Financial Review – Page: 8 : 19-Aug-19

The Grattan Institute contends that people aged 40 contribute twice as much in tax to support older Australians than Baby Boomers did at the same age, after adjusting for inflation. The percentage of households over the age of 65 that pay tax has fallen from 27 per cent in the mid-1990s to 17 per cent, while the Grattan Institute notes that the wealth of households under the age of 35 has barely changed since 2004. It puts forward a number of suggestions to address this intergenerational divide, including taxing superannuation earnings in retirement at 15 per cent and lifting the pension age.

CORPORATES
GRATTAN INSTITUTE, AUSTRALIAN TAXATION OFFICE, AUSTRALIA. PRODUCTIVITY COMMISSION, KPMG AUSTRALIA PTY LTD

China threat: bolster Top End

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Original article by Geoff Chambers
The Australian – Page: 1 & 2 : 19-Aug-19

A report to be released by the Australian Strategic Policy Institute on 19 August suggests that there is a growing gap between Australia’s strategic policy and its military assets in the northern part of the nation. The report’s release, which calls for a boost to defence capacity in that part of the country, will coincide with the release of a separate report from the United States Studies Centre that will argue that the US no longer "enjoys military primacy in the Indo-Pacific". The release of the two reports comes as China seeks to expand its defence and strategic presence in the region.

CORPORATES
AUSTRALIAN STRATEGIC POLICY INSTITUTE LIMITED, UNITED STATES STUDIES CENTRE