O75 Public Administration

Retired engineer calls Treasurer’s wealth idea crap

roymorgansocial Leave a comment

Original article by Ben Potter
The Australian Financial Review – Page: 5 : 25-Sep-15

Older Australians own almost $A1bn worth of residential property assets. Treasurer Scott Morrison has proposed that they capitalise on this wealth by downsizing to a smaller home and using the proceeds to help finance their retirement. However, retired engineer Peter Walker argues that many retirees could not afford to buy a smaller home that is close to family and friends. Walker and his wife opted for a home equity loan rather than a reverse mortgage to provide them with a retirement income stream.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. PRODUCTIVITY COMMISSION, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, HOMESAFE SOLUTIONS PTY LTD

Treasurer wants to rejig the tax mix for growth

roymorgansocial Leave a comment

Original article by Phillip Coorey, Laura Tingle
The Australian Financial Review – Page: 4 : 25-Sep-15

Australian Treasurer Scott Morrison is confident that the Budget deficit can be reduced via spending cuts and measures aimed at lifting economic growth. In contrast, shadow treasurer Chris Bowen argues that tax increases will also be necessary in order to cut the deficit. Morrison also says any tax reforms undertaken by the Federal Government will aim to stimulate the economy and increase government revenue without any increase in the tax take.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF EDUCATION AND TRAINING

Review led to sexism at work insight

roymorgansocial Leave a comment

Original article by Rachel Nickless
The Australian Financial Review – Page: 3 : 24-Sep-15

Public campaigns are more effective in combating sex discrimination than relying on examining the complaints of individual workers. Victoria’s Human Rights & Equal Opportunity Commissioner Kate Jenkins believes that people are reluctant to talk about sexual harassment because of fear of repercussions at work. She favours a campaign-based approach to the problems of sex discrimination, sexual harassment and predatory behaviour in employment.

CORPORATES
VICTORIA. EQUAL OPPORTUNITY AND HUMAN RIGHTS COMMISSION, VICTORIA POLICE, AUSTRALIA POST, WESTPAC BANKING CORPORATION – ASX WBC, HERBERT SMITH FREEHILLS PTY LTD

7-Eleven was warned over worker fraud

roymorgansocial Leave a comment

Original article by Adele Ferguson, Sarah Danckert
The Age – Page: 25 : 24-Sep-15

Consumer advocate Michael Fraser has revealed in a submission to a Senate inquiry into wage exploitation at 7-Eleven that he first warned the convenience store group of the scandal in late 2012. Meanwhile, Stewart Levitt, the principal of law firm Levitt Robinson, has used his submission to urge the Federal Government to hold 7-Eleven’s Melbourne head office accountable for the scandal, rather than franchisees. He says the Government should provide an amnesty for 7-Eleven workers who are on student visas.

CORPORATES
7-ELEVEN STORES PTY LTD, LEVITT ROBINSON, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION, MAURICE BLACKBURN PTY LTD, AUSTRALIA. FAIR WORK COMMISSION

Higher GST inevitable, says Brumby

roymorgansocial Leave a comment

Original article by Jacob Greber, Ben Potter
The Australian Financial Review – Page: 1 & 8 : 24-Sep-15

Former Victorian premier John Brumby has told the AFR Tax Reform Summit that goods and services tax reform will occur eventually. He has proposed lifting the GST to 15 per cent and broadening its scope. Brumby estimates that this would increase tax revenue by $A40bn, which could be used to finance income tax cuts, a reduction in the corporate tax rate and compensation for people on low incomes. However, he says any push to apply the GST to fresh food is likely to be rejected by the Senate.

CORPORATES
AUSTRALIAN LABOR PARTY, ACTU, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, RIO TINTO LIMITED – ASX RIO, BUSINESS COUNCIL OF AUSTRALIA, GRATTAN INSTITUTE, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN CAPITAL TERRITORY. DEPT OF THE CHIEF MINISTER

Pancake Parlour flips on old flat rate pay

roymorgansocial Leave a comment

Original article by Nick Toscano
The Age – Page: 14 : 23-Sep-15

Pancake Parlour employees will be covered by the industrial award for the restaurant industry, after the group did not oppose an application to have its existing workplace agreement terminated. The new arrangement means they will now be entitled to penalty rates for working at night and weekends. The issue of weekend penalty rates has been under scrutiny amid concerns about the high cost to employers, and the business sector is likely to lobby Prime Minister Malcolm Turnbull to take action on the issue ahead of the federal election.

CORPORATES
PANCAKE PARLOUR, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Company tax cut – at a price

roymorgansocial Leave a comment

Original article by Ben Potter
The Australian Financial Review – Page: S1 & S2 : 23-Sep-15

Shadow treasurer Chris Bowen says the Federal Opposition is open to reducing the corporate tax rate to 25 per cent. However, he has told the AFR Tax Reform Summit that this should not be funded via an increase in the GST. ACTU president Ged Kearney told the summit that any reduction in the corporate tax rate should not result in lower tax revenue, but stressed that this does not necessarily mean that the GST should be increased. Economist Saul Eslake proposed cutting some income tax breaks to finance a reduction in the corporate tax rate.

CORPORATES
AUSTRALIAN LABOR PARTY, ACTU, FAIRFAX MEDIA LIMITED – ASX FXJ, KPMG AUSTRALIA PTY LTD, AUSTRALIAN COUNCIL OF SOCIAL SERVICE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, RIO TINTO LIMITED – ASX RIO, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. COMMONWEALTH GRANTS COMMISSION, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Subs won’t be sunk by unions, says Premier

roymorgansocial Leave a comment

Original article by Simon Evans
The Australian Financial Review – Page: 8 : 22-Sep-15

South Australian Premier Jay Weatherill has told the Federal Government that there are compelling reasons to award the contract to build a new submarine fleet to Adelaide-based ASC. He has noted in particular the harmonious relations with the three unions that have a presence on the site. They have agreed to keep industrial action to a minimum in order to increase the prospects of submarine work being awarded to ASC. Several offshore groups are also bidding for the contract.

CORPORATES
SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, ASC PTY LTD, AUSTRALIA. DEPT OF DEFENCE, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIAN MANUFACTURING WORKERS’ UNION, COMMUNICATIONS, ELECTRICAL, ELECTRONIC, ENERGY, INFORMATION, POSTAL, PLUMBING AND ALLIED SERVICES UNION OF AUSTRALIA, LIBERAL PARTY OF AUSTRALIA, ROYAL AUSTRALIAN NAVY

Business urges PM to be more aggressive on IR

roymorgansocial Leave a comment

Original article by Ewin Hannan
The Australian Financial Review – Page: 7 : 22-Sep-15

Australian Industry Group CEO Innes Willox says the Federal Government should act immediately to introduce reforms that were recommended by the Harper review of competition policy. Willox also says the Government should be more active in promoting the need for industrial relations reform ahead of the federal election, and he argues that it should adopt the Productivity Commission’s recommendations on issues such as weekend penalty rates.

CORPORATES
THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, ACTU, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF EMPLOYMENT

Tax options put back on table

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 22-Sep-15

Prime Minister Malcolm Turnbull has given indications that the Australian Government is open to a wide range of tax reforms. This is likely to include reforms that had been ruled out by former PM Tony Abbott. Meanwhile, South Australian Labor Premier Jay Weatherill wants the Government to review superannuation tax concessions. He also says the federal Australian Labor Party should reconsider its opposition to an increase in the goods and services tax.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, AUSTRALIAN LABOR PARTY, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, PROPERTY COUNCIL OF AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE TREASURY