O75 Public Administration

Hike in wages a direct threat to jobs

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Original article by John Slater
The Age – Page: 19 : 4-Jun-18

The minimum wage will increase by $A24.30 per week, which is significantly lower than the $A50 rise that had been advocated by the ACTU. The 3.5 per cent increase announced by the Fair Work Commission is still well above the inflation rate, and research by shadow assistant treasurer Andrew Leigh refutes the ACTU’s claim that a large increase in the minimum wage will prompt strong growth in jobs. The best way to lift the income of low-paid workers and to create jobs for the unemployed is to reduce the tax and regulatory burdens that deter businesses from hiring additional staff.

CORPORATES
ACTU, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN LABOR PARTY, THE MENZIES RESEARCH CENTRE LIMITED

Tax Office reveals its top targets for audits

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Original article by Duncan Hughes
The Australian Financial Review – Page: 7 : 4-Jun-18

Home offices, cryptocurrencies and property investments will be among the Australian Taxation Office’s main areas of scrutiny when it comes to assessing 2017-18 tax returns. ATO assistant commissioner Kath Anderson notes that the amount of data that it collects each year continues to grow, making it easier to compare taxpayers to others with similar incomes and occupations to see whether appropriate deductions are being claimed.

CORPORATES
AUSTRALIAN TAXATION OFFICE, AIRBNB AUSTRALIA PTY LTD

Australian employment up by over 350,000 in a year

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Original article by Roy Morgan
Market Research Update – Page: Online : 4-Jun-18

A Roy Morgan survey shows that 12,415,000 Australians were employed in May 2018, an increase of 355,000 over the last year. The increase was driven by full-time employment, which rose 307,000 to 7,859,000; part-time employment was up 48,000 to 4,286,000. The figures also show that 1,316,000 million Australians were unemployed (9.8% of the workforce) in May, an increase of 32,000 (unchanged in percentage terms) on a year ago. In addition, 1,251,000 Australians (9.3% of the workforce) are now under-employed, working part-time and looking for more work, a fall of 87,000 in a year (down 0.9%). Roy Morgan’s real unemployment figure of 9.8% for May is substantially higher than the current ABS estimate for April of 5.6%. Roy Morgan CEO Michele Levine says the Fair Work Commission’s decision to raise the minimum wage by 3.5% to almost $720 per week was based on the misleading ABS unemployment figure that under-states the "true" level of unemployment and under-employment in Australia. In future the FWC needs to consider the more accurate Roy Morgan employment figures that consistently records that there are more than 2.5 million Australians looking for work or looking for more work.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. FAIR WORK COMMISSION

May Business Confidence shows usual post-Budget decline to 117.1

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Original article by Roy Morgan
Market Research Update – Page: Online : 4-Jun-18

In Australia, Business Confidence fell 1.5pts (-1.3%) to 117.1 in May 2018, according to the latest Roy Morgan Business Single Source survey. Business Confidence traditionally falls in May following the Federal Budget. Business Confidence has now decreased in seven out of eight years in May, although the decline of 1.3% this year was the smallest May decline on record. Despite the overall fall in confidence, businesses are more confident about the performance of the Australian economy; 54.4% (up 1.8ppts) expect "good times" for the Australian economy over the next year, and 53% (up 1.6ppts) say the next 12 months is a "good time to invest" in growing the business. Roy Morgan CEO Michele Levine says the Federal Budget rewarded taxpayers with income tax cuts but businesses are still waiting for the Turnbull Government’s promised cut to the company tax rate from 30% to 25%. In addition to the disappointments surrounding the Federal Budget, the increase in the minimum wage will provide a further deterrent to businesses thinking of hiring young and unskilled staff and increase their endeavours to cut employment costs by implementing new and more cost-effective ways of doing business.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIA. FAIR WORK COMMISSION

Unions push ALP for work reforms

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Original article by Troy Bramston
The Australian – Page: 5 : 1-Jun-18

The state conference of the Australian Labor Party’s New South Wales branch will be presented with a number of union-backed motions concerning changes to workplace laws. The motions cover issues such as the right to strike, pattern bargaining, wage theft, ballots on protected industrial action, workers’ compensation and unions’ right of entry to workplaces. Unions and party branches are expected to test support for the reforms at the state conference ahead of Labor’s national conference.

CORPORATES
AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIAN MANUFACTURING WORKERS’ UNION, TRANSPORT WORKERS’ UNION

Key senators link company tax cuts to hit on tech giants

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Original article by Joe Kelly, Simon Benson
The Australian – Page: 4 : 1-Jun-18

Centre Alliance senator Stirling Griff has indicated that the party remains open to supporting the federal government’s corporate tax cuts package. He says Centre Alliance would need concessions such as the introduction of a tax on digital companies in return for backing the tax package. Griff adds that his party is reviewing the third stage of the government’s personal income tax cuts package, and may still be open to supporting the bill in its entirety or legislating the third stage separately. Centre Alliance has two seats in the upper house.

CORPORATES
CENTRE ALLIANCE, ONE NATION PARTY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY

Howard: End freeze with China

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Original article by Dennis Shanahan
The Australian – Page: 1 & 8 : 1-Jun-18

Former prime minister John Howard has made the point that Chinese president Xi Jinping likes Australia. With the relationship between Australia and China somewhat strained at the moment, Howard suggests that a face-to-face meeting between their respective leaders would be a good starting point in helping to ease tensions. He notes that the "turning point" in a 1996 dispute between Australia and China over naval rights in the Taiwan Straits was a meeting in Manila between himself and Jiang Zemin, China’s president at the time.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, UNIVERSITY OF TECHNOLOGY, SYDNEY. AUSTRALIA-CHINA RELATIONS INSTITUTE

OECD’s blue-sky outlook supports budget’s growth projections

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Original article by David Uren
The Australian – Page: 5 : 31-May-18

The OECD has forecast that the Reserve Bank will be able to commence tightening monetary policy by the end of 2018 due the outlook for the Australian economy. The OECD expects economic growth of 2.9 per cent in 2018 and three per cent in 2019, while further strong growth in the employment market is forecast to have a flow-on effect for wages by the end of 2018. However, the OECD warned that the risks associated with high house prices require "continued vigilance".

CORPORATES
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, AUSTRALIA. DEPT OF THE TREASURY

GST stoush looms ahead of byelections

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Original article by Andrew Tillett
The Australian Financial Review – Page: 11 : 31-May-18

Federal Treasurer Scott Morrison recently received the Productivity Commission’s final report on changes to the distribution of goods and services tax revenue. Prime Minister Malcolm Turnbull has told parliament that the report will be released prior to the five upcoming by-elections in late July. He also said the government will take its time in formulating a response to the report’s recommendations, and stressed that no state or territory will be disadvantaged by any changes to the GST system.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF WESTERN AUSTRALIA, CENTRE ALLIANCE

Cash to fight subpoena over union raid tip-off

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Original article by Phillip Coorey
The Australian Financial Review – Page: 6 : 31-May-18

Shadow workplace relations minister Brendan O’Connor has repeated his call for Jobs Minister Michaelia Cash to resign over police raids on the offices of the Australian Workers’ Union in 2017. Cash has been issued with a subpoena to give evidence in the AWU’s legal action over the raids, which were undertaken as part of an investigation into the union’s political donations. Cash has described the subpoena as a "stunt" that is aimed at protecting Opposition Leader Bill Shorten, who was the AWU’s national secretary when the donations were made.

CORPORATES
AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIAN LABOR PARTY, FEDERAL COURT OF AUSTRALIA, AUSTRALIA. REGISTERED ORGANISATIONS COMMISSION, AUSTRALIAN FEDERAL POLICE, GETUP LIMITED