O75 Public Administration

Pizza Hut ushers in penalty rates after Fair Work ruling

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 9 : 1-Feb-19

Pizza Hut Australia employees will be moved to the industry award after the Fair Work Commission agreed to terminate an enterprise agreement that had expired in 2012. The Shop, Distributive & Allied Employees’ Association had applied to have the agreement terminated in 2017, after Pizza Hut failed to increase its pay rates in line with a 3.3 per cent rise in the minimum wage in 2016. Under the expired workplace agreement, penalty rates had been traded off for a seven per cent increase in base hourly wage rates.

CORPORATES
PIZZA HUT AUSTRALIA, AUSTRALIA. FAIR WORK COMMISSION, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP

Hayne plan: trust, credit, competition

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Original article by Phillip Coorey, John Kehoe
The Australian Financial Review – Page: 1 & 4 : 1-Feb-19

Treasurer Josh Frydenberg has indicated that restoring consumers’ trust in banks will be a key focus of the federal government’s response to the final report of the financial services royal commission. He says the government will also aim to ensure that there is competition in the sector and that consumers and businesses continue to have access to credit. Meanwhile, shadow treasurer Chris Bowen says a Labor government would establish a taskforce to implement the inquiry’s recommendations, claiming that only Labor can restore the public’s trust in financial services providers.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIAN LABOR PARTY, RESERVE BANK OF AUSTRALIA, CITIGROUP PTY LTD, GOLDMAN SACHS AUSTRALIA PTY LTD

Tech experts opt out of My Health system

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Original article by Bo Seo
The Australian Financial Review – Page: 5 : 31-Jan-19

Australians must choose whether to opt out of the federal government’s controversial My Health Record system by 31 January. Data security and privacy concerns have prompted a number of people in the technology sector to opt out of the system, including Freelancer CEO and founder Matt Barrie, who says the government has done an "abysmal job" of protecting Australians’ privacy. Cyber security expert Vijay Varadharajan has also chosen to opt out, although Cyber Security Research Centre CEO Rachael Falk has opted in.

CORPORATES
FREELANCER LIMITED – ASX FLN, CYBER SECURITY RESEARCH CENTRE, AIRTREE VENTURES PTY LTD, MICROSOFT CORPORATION, UNIVERSITY OF NEW SOUTH WALES, UNIVERSITY OF NEWCASTLE

ALP goads seniors: vote against us

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Original article by Simon Benson, Joe Kelly
The Australian – Page: 1 & 4 : 31-Jan-19

Analysis of tax data shows that Labor’s proposal to abolish cash refunds for excess dividend imputation credits would affect up to eight per cent of electors in the 10 most marginal federal seats. It is estimated that they would lose an average of $2,700 as a result of the policy. However, shadow treasurer Chris Bowen says Labor will press ahead with the policy if it wins the upcoming election. He has also suggested that self-funded retirees should vote against Labor if they are concerned about the policy, prompting Treasurer Josh Frydenberg to accuse him of arrogance.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN TAXATION OFFICE, NATIONAL SENIORS AUSTRALIA LIMITED, SMSF ASSOCIATION, LLOG EXPLORATION COMPANY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE

ANZ-Roy Morgan Australian Consumer Confidence up to 116.5

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Original article by Roy Morgan
Market Research Update – Page: Online : 31-Jan-19

ANZ-Roy Morgan Australian Consumer Confidence rose 0.7% to 116.5 in the week ended 27 January, continuing its up-down-up pattern. Households’ views towards current financial conditions rose 2.2%, but views towards future financial conditions declined by 0.9%. Consumers’ views toward current and future economic conditions gained 1.7% and 5.9% respectively. The ‘time to buy a household item’ sub-index fell 3.9%, to its lowest level since October.

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

Green light for black economy taskforce

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Original article by Duncan Hughes
The Australian Financial Review – Page: 21 : 30-Jan-19

The federal government’s Black Economy Taskforce made 80 recommendations in its final report, which was released in October. The government has accepted 30 of these recommendations, while it has agreed in principle to adopt 21 recommendations. Michael Andrew, who chaired the taskforce, says government departments and agencies have commenced the process of implementing the recommendations. The cash economy is estimated to cost about $50 billion a year.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN TAXATION OFFICE, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIA. DEPT OF HOME AFFAIRS, KPMG AUSTRALIA PTY LTD

Widows, elderly caught by shares crackdown

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Original article by Tom McIlroy
The Australian Financial Review – Page: 9 : 30-Jan-19

Professor Sinclair Davidson has concluded that Labor’s proposal to abolish cash refunds for excess dividend imputation credits would have the biggest impact on self-managed superannuation funds and self-funded retirees. His analysis also shows that women account for 56 per cent of people who receive cash refunds under the existing scheme, and 68 per cent of them are over the age of 60. In addition, 47 per cent are single or widowed. Labor estimates that its policy would boost government revenue by $55.7bn over 10 years.

CORPORATES
AUSTRALIAN LABOR PARTY, RMIT UNIVERSITY, INSTITUTE OF PUBLIC AFFAIRS LIMITED, AUSTRALIAN TAXPAYERS’ ALLIANCE PTY LTD, AUSTRALIAN TAXATION OFFICE, AUSTRALIA. DEPT OF THE TREASURY

US, China ignite hi-tech row

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Original article by Glenda Korporaal, Primrose Riordan
The Australian – Page: 1 & 9 : 30-Jan-19

The Chinese Government claims that US charges against Huawei and chief financial officer Meng Wanzhou are politically ­motivated. Amongst other things, the US has accused them of breaching US trade sanctions against Iran, money-laundering and stealing trade secrets. The Lowy Institute’s Richard McGregor says the charges could have an impact on Australia’s future relationship with China, while Defence Minister ­Christopher Pyne says the US should focus on issues such as the South China Sea. The US and China will shortly commence trade talks in Washington.

CORPORATES
HUAWEI TECHNOLOGIES COMPANY LIMITED, LOWY INSTITUTE FOR INTERNATIONAL POLICY, AUSTRALIA. DEPT OF DEFENCE, UNITED STATES. DEPT OF JUSTICE, AUSTRALIA. DEPT OF HOME AFFAIRS, TPG TELECOM LIMITED – ASX TPM, T-MOBILE USA INCORPORATED, UNITED STATES. FEDERAL BUREAU OF INVESTIGATION, UNITED STATES. DEPT OF HOMELAND SECURITY, UNITED STATES. DEPT OF COMMERCE, ZTE CORPORATION

PM’s tax-break move a win for small business

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Original article by Michael Roddan, Greg Brown
The Australian – Page: 2 : 30-Jan-19

The federal government has extended a tax break for small businesses, in a move which Prime Minister Scott Morrison says will benefit more than three million small businesses with annual turnover of up to $10m. The threshold for the small business instant asset write-off has been increased to $25,000, as part of the government’s strategy to gain the support of small business owners ahead of the election. The government has also committed to creating an additional 1.25 million jobs over five years if it wins the election.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, DELOITTE ACCESS ECONOMICS PTY LTD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF DEFENCE

PM pledges more jobs, no debt

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 29-Jan-19

Prime Minister Scott Morrison will use a speech in Brisbane on 29 January to commit the Coalition to creating an additional 1.25 million jobs over five years if it wins the 2019 federal election. He will note that the Coalition has created more than 1.2 million jobs since it won the 2013 election. Morrison will also indicate that his government will aim to clear Australia’s net debt within a decade. It currently stands at $351.9bn, or 18.2 per cent of GDP. The mid-year Budget update had forecast that net debt will fall to 1.5 per cent of GDP in 2028-29.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA