O75 Public Administration

Labor’s spending plans could hit a wall

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Original article by John Kehoe
The Australian Financial Review – Page: 5 : 13-Dec-18

Labor plans to increase tax revenue by about $30bn over four years if it wins the 2019 federal election, and by nearly $280bn over a decade. However, the majority of Senate crossbenchers oppose Labor’s key tax policy initiatives, including its negative gearing reforms and the abolition of cash refunds for excess dividend imputation credits. Analysis suggests that Labor’s tax revenue would be up to $19bn lower than forecast if the Senate were to reject its key tax measures.

CORPORATES
AUSTRALIAN LABOR PARTY, CENTRE ALLIANCE, ONE NATION PARTY, AUSTRALIAN CONSERVATIVES, AUSTRALIAN GREENS, DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIA. DEPT OF THE TREASURY

Enterprise deals face extinction

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Original article by Ewin Hannan
The Australian – Page: 4 : 13-Dec-18

The proportion of workers in the private sector that are covered by enterprise agreement has fallen from 19 per cent in 2013 to 12 per cent in 2017, according the Australia Institute’s Centre for Future Work. Its report shows that the number of private-sector employees who are covered by enterprise agreements has declined by more than 660,000 since 2013. It concludes that if the current trend continues, fewer than two per cent of private sector employees could be covered by enterprise agreements by 2030.

CORPORATES
THE AUSTRALIA INSTITUTE LIMITED

Leading researcher pours cold water over link between property prices and the economy

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Original article by
abc.net.au – Page: Online : 12-Dec-18

Australian house prices have fallen 9.5 per cent from their peak in July 2017, and some economists have forecast a peak-to-trough decline of up to 15 per cent. Roy Morgan CEO Michele Levine discusses the outlook for residential property prices on Radio National. She says the recent downturn in house prices is primarily due to stricter lending criteria rather than a decline in demand for housing. Levine also discusses issues such as mortgage stress and whether a fall in house prices has an impact on consumer confidence.

CORPORATES
ROY MORGAN LIMITED

Unions test Labor with airline fight

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Original article by Ewin Hannan
The Australian – Page: 1 & 4 : 12-Dec-18

Labor will seek support for industry-wide enterprise bargaining for low-paid workers at its upcoming national conference. However, the Transport Workers’ Union will push for the policy on industry-wide bargaining to be broadened to include the aviation sector. Leaders of rival unions do not believe that there is much support within Labor’s senior ranks for such a move, while Qantas CEO Alan Joyce recently warned of the impact that doing so would have on both the airline’s supply chain and the broader economy.

CORPORATES
AUSTRALIAN LABOR PARTY, TRANSPORT WORKERS’ UNION, QANTAS AIRWAYS LIMITED – ASX QAN, AUSTRALIA. FAIR WORK COMMISSION, NATIONAL PRESS CLUB (AUSTRALIA)

Labor’s tax grab faces Senate block

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 12-Dec-18

Labor may not have sufficient support in the Senate for its proposal to abolish cash refunds for excess dividend imputation credits if it wins the 2019 federal election. Labor would require the support of the Greens and four crossbenchers to pass the reforms before the current Senate is dissolved on 30 June. However, nine of the 10 crossbenchers oppose the policy, with Fraser Anning describing it as a "socialist retiree tax". In addition, none of the current senators support Labor’s proposal to restrict negative gearing to new homes, although some favour capping the number of properties that can be negatively geared.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ONE NATION PARTY, CENTRE ALLIANCE

ANZ-Roy Morgan Australian Consumer Confidence drops to 117.7

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Original article by Roy Morgan
Market Research Update – Page: Online : 12-Dec-18

ANZ-Roy Morgan Australian Consumer Confidence fell 1.5% to 117.7 in the week ended 9 December, reversing the gains seen over the previous two weeks. However, consumer confidence remains well above its long-run average. Households’ views towards current financial conditions fell 0.7%, while future financial condition were up 1.7%. Consumers’ views toward current economic conditions fell 6% but future economic conditions were up a modest 0.3%. The ‘time to buy a household item’ sub-index was down 2.8%, its second straight loss after it made a solid gain in the second half of November.

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

Huge taxpayer bill

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Original article by Rob Harris, Claire Bickers
Herald Sun – Page: 4 : 11-Dec-18

Analysis shows that the pension, travel and office entitlements of former Australian prime ministers have cost taxpayers about $19m in total since 2010. Meanwhile, new figures show that the ousting of ex-prime minister Malcolm Turnbull in August has cost more than $4.5m in severance pay This includes nearly $1.9m in payouts for 35 staffers who opted not to remain in the prime minister’s office following the leadership spill.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

How ATO is catching more fraudsters

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Original article by Tom McIlroy
The Australian Financial Review – Page: 10 : 11-Dec-18

The Australian Taxation Office has joined forces with its peers in the US, Canada, the UK and the Netherlands to establish the Joint Chiefs of Global Tax Enforcement group. The five tax authorities will co-operate in combating activities such as tax fraud, organised crime and money-laundering. Assistant tax commissioner Peter Vujanic says the ATO’s data-matching and analytical capabilities means there is now a much higher probability that tax-related crimes will be detected, regardless of their level of sophistication.

CORPORATES
AUSTRALIAN TAXATION OFFICE, UNITED STATES. INTERNAL REVENUE SERVICE, GREAT BRITAIN. HM REVENUE AND CUSTOMS, CANADA. REVENUE AGENCY, NETHERLANDS. FISCAL INFORMATION AND INVESTIGATION SERVICE, AUSTRALIAN FEDERAL POLICE, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, AUSTRALIAN CRIME COMMISSION, AUSTRALIAN BORDER FORCE

Libs believe election is still winnable

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 11-Dec-18

Home Affairs Minister Peter Dutton is among the senior Liberal MPs who are optimistic that the Coalition can win the 2019 federal election. He notes that the Coalition won an election under former prime minister John Howard despite a worse performance in public opinion polls than at present. He adds that Prime Minister Scott Morrison will be much more effective in campaigning than predecesser Malcolm Turnbull. The Coalition’s internal polling is believed to show that it is faring better than published polls suggest.

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

Coalition bid to end double dipping

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Original article by Tom McIlroy
The Australian Financial Review – Page: 3 : 11-Dec-18

Australian Industry Group CEO Innes Willox has welcomed the federal government’s response to a Federal Court ruling on the leave entitlements of casual employees. Industrial Relations Minister Kelly O’Dwyer says it is unfair that companies could be required to pay both a casual loading and paid leave. She says the government will clarify the situation via regulation under the Fair Work Act. It also plans to introduce legislation aimed at providing casuals who are employed on a regular basis with the right to request that they become permanent employees.

CORPORATES
AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, THE AUSTRALIAN INDUSTRY GROUP, FEDERAL COURT OF AUSTRALIA, WORKPAC PTY LTD, ACTU, AUSTRALIAN LABOR PARTY