O75 Public Administration

Directors blast Coalition over tax

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Original article by Agnes King
The Australian Financial Review – Page: 5 : 21-May-15

Corporate directors have criticised the Australian Government for failing to include GST and superannuation in its tax reform agenda. Perpetual director Sylvia Falzon says tax reform is "pointless" if these issues are not part of the debate, while Wesfarmers director Jennifer Westacott argues that tax reform will encourage greater investment and workforce participation.

CORPORATES
PERPETUAL LIMITED – ASX PPT, WESFARMERS LIMITED – ASX WES, BUSINESS COUNCIL OF AUSTRALIA, SAI GLOBAL LIMITED – ASX SAI, REGIS HEALTHCARE LIMITED – ASX REG, TEN NETWORK HOLDINGS LIMITED – ASX TEN, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BRAMBLES LIMITED – ASX BXB, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, STOCKLAND – ASX SGP, BUSINESS COALITION FOR TAX REFORM

Abbott tipped to dump ore probe

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Original article by Phillip Coorey
The Australian Financial Review – Page: 6 : 21-May-15

Prime Minister Tony Abbott says the Federal Government has not yet decided whether to hold a parliamentary inquiry into the iron ore industry. However, he stressed that it is inappropriate for governments to intervene in free markets. Abbott had been in favour of an inquiry only days earlier, but some Coalition MPs oppose any such move.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, LIBERAL PARTY OF AUSTRALIA

Big miners spook Abbott

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Original article by Phillip Coorey, Julie-anne Sprague, Mark Ludlow
The Australian Financial Review – Page: 1 & 4 : 20-May-15

Fortescue Metals Group chairman Andrew Forrest says the Australian Government should proceed with a parliamentary inquiry into the iron ore industry. He notes that lower prices for the steel input affects government revenue, and he says the Government should not yield to pressure from BHP Billiton and Rio Tinto. The two big miners have criticised proposals for a federal inquiry, while Prime Minister Tony Abbott has moderated his position on the issue, after previously supporting such an inquiry.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF INDUSTRY AND SCIENCE, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

‘Bring it on’: Labor will fight on super tax

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Original article by Phillip Coorey
The Australian Financial Review – Page: 6 : 20-May-15

Shadow treasurer Chris Bowen will address the National Press Club on 20 May 2015. His speech will advocate changes to the superannuation system, arguing that tax concessions for retirees are not sustainable. He will also stress that the Opposition is prepared to fight the next federal election on the issue of super. The Federal Government recently dropped plans for super reform, but National Seniors Australia believes that reforms should not have been restricted to the pension system.

CORPORATES
AUSTRALIAN LABOR PARTY, NATIONAL PRESS CLUB (AUSTRALIA), NATIONAL SENIORS AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIA. DEPT OF THE TREASURY

Budget’s sugar hit lifts Coalition back to 50:50

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 18-May-15

A Fairfax/Ipsos Poll shows that support for the Federal Coalition on a two-party preferred basis has risen from 46 per cent to 50 per cent since April 2015. Meanwhile, the Coalition’s primary vote has increased from 39 per cent to 43 per cent in the wake of the May 2015 Budget. The personal approval rating of Prime Minister Tony Abbott has risen by eight per cent to 42 per cent, and his rating as preferred prime minister is up six points at 44 per cent.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, IPSOS AUSTRALIA PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY

Hockey in iron ore inquiry talks

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Original article by John Kerin, Amanda Saunders
The Australian Financial Review – Page: 1 & 8 : 15-May-15

Independent Senator Nick Xenophon wants a bipartisan parliamentary committee to hold an inquiry into iron ore pricing. There is speculation that any such inquiry could be chaired by Liberal MP Angus Taylor, who has worked as a consultant in the sector. Minerals Council of Australia CEO Brendan Pearson rejects claims by Andrew Forrest that BHP Billiton and Rio Tinto are ramping up production with a view to forcing smaller producers out of the iron ore market, and says there is no need for an inquiry.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, AUSTRALIA. DEPT OF THE TREASURY, LIBERAL PARTY OF AUSTRALIA, MINERALS COUNCIL OF AUSTRALIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN LABOR PARTY

Hockey to tax global giants

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 12-May-15

The Australian Government’s May 2015 Budget will feature spending initiatives that will cost up to $A10bn. It includes $A3.5bn for childcare and an additional $A450m for national security. Meanwhile, the Government has announced that downloading digital content from offshore providers will attract the GST, while it will crack down on international corporations that avoid their tax liabilities by shifting profits overseas. However, it has ruled out a so-called "Google Tax".

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, GOOGLE INCORPORATED, NETFLIX INCORPORATED, AUSTRALIAN LABOR PARTY, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, AUSTRALIAN TAXATION OFFICE, THE TAX INSTITUTE, ARNOLD BLOCH LEIBLER, AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Chaney tells Senate to OK budget

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Original article by Sue Mitchell, Tim Binsted
The Australian Financial Review – Page: 1 & 6 : 12-May-15

Incoming Wesfarmers chairman Michael Chaney says the Australian Government needs to be more proactive in informing the public about the need to reduce spending in the May 2015 Budget. He has also stressed the need for bipartisan support for Budget measures in the Senate, and says consumer confidence, employment and the economy will be negatively affected if the Budget is rejected by the upper house. Chaney will succeed Bob Every as Wesfarmers chairman in November.

CORPORATES
WESFARMERS LIMITED – ASX WES, AUSTRALIA. DEPT OF THE TREASURY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, INCITEC PIVOT LIMITED – ASX IPL

Telcos to get metadata storage cash

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Original article by John Kerin
The Australian Financial Review – Page: 5 : 12-May-15

The Australian Government’s May 2015 Budget will include additional $A450m in funding for national security initiatives. Some $A131m will be allocated to telcos and ISPs to offset the cost of upgrading their systems in order to retain metadata for up to two years under the Government’s data retention laws. Intelligence agencies will receive a $A296m funding increase.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Budget’s switch to spending

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Original article by Phillip Coorey, Jacob Greber
The Australian Financial Review – Page: 1 & 4 : 11-May-15

The Australian Government’s May 2015 Budget will replace all existing rebates for childcare services with one means-tested subsidy. However, Prime Minister Tony Abbott has indicated that the $A3.5bn childcare package is conditional on Senate support for welfare reforms that were in the 2014 Budget. Shadow treasurer Chris Bowen has reiterated that the Opposition will not support the proposed changes to family benefits.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. PRODUCTIVITY COMMISSION