O75 Public Administration

Fair Work decision exposes IR flaws: BHP

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Original article by Elizabeth Colman
The Australian – Page: 4 : 10-Feb-16

BHP Billiton has criticised the Fair Work Commission for ruling that union officials can hold meetings with employees of the Caval Ridge mine at a dragline cabin rather than the site’s meal-break room. BHP argues that the ruling will adversely affect productivity at the Queensland mine. The dragline cabins are 2.4km from the mine’s meal-break room. The Fair Work Act was amended in 2013 to specify that union officials must hold meetings in meal-break rooms.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, AUSTRALIA. FAIR WORK COMMISSION, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIA. DEPT OF EMPLOYMENT

Imputation query as company tax cut gives biggest bang

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 10-Feb-16

Prime Minister Malcolm Turnbull has ruled out increasing the GST to finance income tax cuts, after telling Coalition MPs that economic modelling has shown that it would not be economic feasible. The modelling showed that using a higher GST to finance company tax cuts would achieve the greatest economic benefit. Meanwhile, Australian Industry Group CEO officer Innes Willox has proposed reducing the company tax rate from 30 per cent to 20 per cent by scrapping the dividend imputation system.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIA. DEPT OF THE TREASURY, MACQUARIE UNIVERSITY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, COUNCIL OF AUSTRALIAN GOVERNMENTS, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, NORTHERN TERRITORY. DEPT OF THE CHIEF MINISTER, COUNCIL FOR THE AUSTRALIAN FEDERATION

PM scrambles for a tax policy

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 9-Feb-16

Treasurer Scott Morrison says tax reform will be included in the May 2016 Budget, although the Australian Government has backed down on its proposal to increase the GST. It will instead look at options such changes to superannuation tax concessions and reducing income tax rates via the abolition of tax deductions for work-related expenses. However, Morrison has ruled out making any changes to the negative gearing regime.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY, AUSTRALIAN TAXATION OFFICE

Infrastructure financial backing falls by $16b

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Original article by Jacob Greber
The Australian Financial Review – Page: 6 : 8-Feb-16

The "asset recycling program" that was announced in the Australian Government’s May 2014 Budget was expected to generate $A126.3bn worth of infrastructure investment by the states and the private sector. However, new figures show that this estimate has been scaled back to $A110bn. The Federal Government’s original proposal to invest $A50bn on infrastructure projects has in turn been reduced by $A1.4bn.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIAN LABOR PARTY, AUSTRALIAN NATIONAL UNIVERSITY. CRAWFORD SCHOOL OF ECONOMICS AND GOVERNMENT

Unemployment rises to 10.3% in January – Under-employment down from record high in December

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 5-Feb-16

A Roy Morgan Research survey on Australia’s labour market has found that the real unemployment rate was 10.3 per cent in January 2016. The number of people in the workforce has risen to a record 13,098,000 (up 471,000 since January 2015), and a record 11,752,000 Australians are employed (up 358,000 in the last 12 months). Meanwhile, the number of people who are under-employed has risen by 196,000 in the last 12 months to 1,229,000 (9.4 per cent of the workforce). The official unemployment rate was 5.8 per cent in December 2015. Roy Morgan Research executive chairman Gary Morgan says Australia’s outdated industrial relations laws and work practices can only be properly reformed if the "cash economy" is tackled at the same time – otherwise any efforts at IR reform will be of limited benefit, as Government revenue increases will be negligible.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Tax options shrink after GST retreat

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Original article by David Crowe
The Australian – Page: 1 & 4 : 8-Feb-16

The Australian Government may be reconsidering its plans to increase the GST, after Prime Minister Malcolm Turnbull suggested that there may be no net benefit from increasing the tax and cutting personal income tax rates. The Government is expected to look at alternatives such as changes to the negative gearing regime for property investors. However, Business Council of Australia CEO Jennifer Westacott says her organisation’s modelling shows that a GST increase that is offset by income tax cuts would be the best to boost the economy.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, THE AUSTRALIA INSTITUTE LIMITED, UNIVERSITY OF CANBERRA. NATIONAL CENTRE FOR SOCIAL AND ECONOMIC MODELLING, AUSTRALIA. DEPT OF THE TREASURY

Government losing appetite for GST hike

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Original article by Phillip Coorey, Primrose Riordan
The Australian Financial Review – Page: 3 : 5-Feb-16

Prime Minister Malcolm Turnbull says a push to increase the GST will only proceed if it can be demonstrated to have positive economic effects, such as creating jobs and lifting productivity. Meanwhile, a growing number of Federal Government MPs and senators have reservations about increasing the GST. Liberal Senator Cory Bernardi has vowed to vote against the Government on any bill to increase the tax, while MP Russell Broadbent says the Government has not presented a compelling case for a tax increase.

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

Don’t touch negative gearing, MPs warned

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 5-Feb-16

The Property Council of Australia stresses the importance of negative gearing for housing. It will argue in a submission to the joint standing committee on economics’ inquiry into tax deductibility that negative gearing should be retained in its current form. The Property Council has warned that it could mobilise negatively geared voters in marginal seats to persuade politicians to leave negative gearing unchanged.

CORPORATES
PROPERTY COUNCIL OF AUSTRALIA LIMITED, AUSTRALIAN LABOR PARTY

Nick Xenophon Team (NXT) increases support in South Australia while L-NP well in front in NSW and ALP holds solid lead in Victoria

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 3-Feb-16

An SMS Morgan Poll on State voting intention, which was carried out from 29 January to 1 February 2016, has found that support for South Australia’s L-NP Opposition has fallen by one per cent to 53 per cent on a two-party preferred basis. Meanwhile, 20.5 per cent of the state’s electors support the Nick Xenophon Team (NXT), an increase of 2.5 per cent since early December 2015. In Victoria, support for the ALP Government on a two-party preferred basis is steady at 53.5 per cent, while Daniel Andrews’ rating as "Better Premier" has fallen by 1.5 per cent to 62.5 per cent. Support for the L-NP Government in New South Wales has fallen by one per cent to 59.5 per cent, and Mike Baird’s rating as "Better Premier" has eased 0.5 per cent to 72 per cent.

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, KATTER’S AUSTRALIAN PARTY, PALMER UNITED PARTY, NICK XENOPHON TEAM, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Victoria to ‘waste’ smart power meters

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Original article by Ben Potter
The Australian Financial Review – Page: 3 : 4-Feb-16

The Victorian Government has decided that households will be able to choose to be placed on flexible electricity tariffs. However, Tony Wood of the Grattan Institute warns that the "opt-in" policy will result in a low take-up rate for the flexible tariffs scheme, which offers lower electricity rates in off-peak periods. He adds that the decision means Victorian households will not gain most of the benefits of the state’s $A2bn smart meter rollout.

CORPORATES
GRATTAN INSTITUTE, VICTORIA. DEPT OF ECONOMIC DEVELOPMENT, JOBS, TRANSPORT AND RESOURCES, AGL ENERGY LIMITED – ASX AGL, AUSTRALIAN LABOR PARTY, AUSTRALIAN ENERGY REGULATOR, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, COUNCIL OF AUSTRALIAN GOVERNMENTS