O75 Public Administration

Property buyers snub special visa

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 1 & 6 : 8-Jan-16

Changes to the Australian Government’s Significant Investor Visa (SIV) scheme in July 2015 have made the program less attractive. The aim of the legislators was to discourage investments in property while redirecting them towards venture capital funds and listed small companies. Only 47 SIV applications have been received since mid-2015, compared with around 50 applications per month under the old rules.

CORPORATES
HALL AND WILCOX, TARONGA GROUP, AUSTRALIA. PRODUCTIVITY COMMISSION

Clean up unions, shake up ties to Labor: Crean

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Original article by Troy Bramston, Elizabeth Colman
The Australian – Page: 1 & 2 : 8-Jan-16

Former ACTU president Simon Crean says the union movement must address the issue of corruption and criminal behaviour in its ranks, warning that government action will be taken if union fail to do so themselves. He has also urged the Australian Labor Party to review its structural relationship with unions, with reforms such as reducing the number of union delegates who attend Labor conferences. The former Labor leader is not convinced that deregistering the militant Construction, Forestry, Mining & Energy Union is appropriate, as it would affect members who have not been involved in corruption.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, AUSTRALIAN LABOR PARTY, ACTU, AUSTRALIA. DEPT OF EMPLOYMENT, BUILDERS’ LABOURERS’ FEDERATION, FEDERAL COURT OF AUSTRALIA

Retail chiefs resist super fund choice

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Original article by Joanna Mather
The Australian Financial Review – Page: 3 : 7-Jan-16

Retail industry superannuation fund REST opposes new legislation giving workers a choice of super fund and making changes in the process of selecting default funds by employers. REST chairman Ken Marshman argues in a letter sent to the Royal Commission into Trade Union Governance and Corruption that employers do not want to be burdened with the obligation to choose a default fund, preferring to leave this task to those having expert knowledge of super.

CORPORATES
REST SUPER PTY LTD, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, WOOLWORTHS LIMITED – ASX WOW, COLES GROUP LIMITED, MYER HOLDINGS LIMITED – ASX MYR, AUSTRALIA. DEPT OF THE TREASURY, INDUSTRY FUND SERVICES PTY LTD

North Korean H-bomb sparks nuke nightmare

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Original article by Renee Viellaris
The Daily Telegraph – Page: 6 : 7-Jan-16

Australia’s Foreign Affairs Minister Julie Bishop has criticised North Korea’s "provocative and dangerous behaviour", after it claimed to have successfully detonated a hydrogen bomb. Bishop said North Korea’s nuclear weapons program poses a risk to the peace and security of Australia’s allies. Reports of the hydrogen bomb test have yet to be confirmed, but an earthquake in North Korea registering 5.1 on the Richter scale were recorded by seismologists.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, UNITED NATIONS. SECURITY COUNCIL

CFMEU will be spared delisting by the Turnbull government

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Original article by Troy Bramston
The Australian – Page: Online : 7-Jan-16

The Australian Government has ruled out any move to deregister the militant Construction, Forestry, Mining & Energy Union, which boasts more than 100,000 members. The Royal Commission into Trade Union Governance and Corruption made a number of adverse findings about the union, but did not recommend deregistration due to the impact on members who have not engaged in corrupt activity. Employment Minister Michaelia Cash says the Government’s priority in tackling corruption in the construction industry is to reinstate the Australian Building & Construction Commission.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, MARITIME UNION OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, FEDERAL COURT OF AUSTRALIA, ACTU, BUILDERS’ LABOURERS’ FEDERATION, FAIR WORK BUILDING AND CONSTRUCTION, AUSTRALIAN GREENS

Surcharge may have to rise for high earners

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Original article by Joanna Mather
The Australian Financial Review – Page: 6 : 6-Jan-16

Private Healthcare Australia notes that the cost of private health insurance is now rising faster than growth in wages. This has resulted in many people being financially better off by paying the Medicare levy rather than taking out health insurance. Private Healthcare Australia has suggested that increasing the Medicare levy may be necessary to provide an incentive for people on high incomes to join a health insurance fund.

CORPORATES
PRIVATE HEALTHCARE AUSTRALIA LIMITED, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA, AUSTRALIAN MEDICAL ASSOCIATION LIMITED, AUSTRALIA. DEPT OF HEALTH

Unemployment rises to 9.7% in December – Under-employment at record high

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 4-Jan-16

A Roy Morgan Research survey on Australia’s labour market has found that the real unemployment rate was 9.7 per cent in December 2015, compared with 9.2 per cent in November. The number of people in the workforce now totals 13,007,000 (up 106,000 since December 2014), and 11,751,000 Australians are employed (up 252,000 since December 2014). Meanwhile, the number of people who are under-employed has risen by 188,000 in the last 12 months, to a record 1,434,000 (11 per cent of the workforce). The official unemployment rate was 5.8 per cent in November 2015. Roy Morgan Research executive chairman Gary Morgan says the key point for Prime Minister Malcolm Turnbull and the Coalition Government as they contemplate when to hold the Federal Election is how to properly manage the Australian economy to ensure growth and provide jobs for the growing workforce. Changing industrial relations laws and work practices can only be effective 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

Case for reform is overwhelming

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Original article by
The Australian Financial Review – Page: 38 : 4-Jan-16

The Australian Government should pursue major reforms to the union movement in response to the final report of the Royal Commission into Trade Union Governance and Corruption. While any such reforms will face resistance from unions and the Australian Labor Party, the report demonstrates the need for greater regulation of trade unions and for unions to be subject to the same governance standards as the corporate sector. Editorial.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, HEALTH SERVICES UNION OF AUSTRALIA, GROCON PROPERTY TRUST AUSTRALIA, BORAL LIMITED – ASX BLD, ACTU

Households to drive the economy in 2016

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Original article by David Uren, David Crowe
The Australian – Page: 1 & 4 : 4-Jan-16

Federal Treasurer Scott Morrison says Australia’s economic growth remains strong, despite the revised forecasts for 2015-16 and 2016-17 in the recent mid-year Budget update. Morrison adds that household consumption is also strong, and stresses that government policies in 2016 will be aimed at strengthening consumer and business confidence in an election year. Bill Evans of Westpac has identified a further deterioration in the nation’s terms of trade as the largest risk to the economy.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIAN LABOR PARTY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Heavy holiday hit for retailers as workers ring up penalty bonanza

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Original article by Joe Kelly, Gina Rushton, Elizabeth Colman
The Australian – Page: 4 : 23-Dec-15

Australian retailers that choose to trade between Christmas and New Year face a huge staff penalty rates bill. Australian Retailers Association executive director Russell Zimmerman notes that just three days between 25 December and 3 January will attract standard hourly wage rates. He has welcomed the Productivity Commission’s recommendation to reduce Sunday penalty rates to the level that applies on Saturdays.

CORPORATES
AUSTRALIAN RETAILERS ASSOCIATION, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN LABOR PARTY, ACTU, UNIVERSITY OF ADELAIDE, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, THE AUSTRALIAN INDUSTRY GROUP, BING LEE ELECTRICS PTY LTD