O75 Public Administration

Hockey rejects recession fears

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Original article by Jacob Greber
The Australian Financial Review – Page: 6 : 11-May-15

The Australian Government’s Mid-Year Economic and Fiscal Outlook had forecast GDP growth of 2.5 per cent in 2014-15. This is expected to be scaled back in the May 2015 Budget, but Treasurer Joe Hockey has downplayed suggestions by Macroeconomics’ Stephen Anthony that there is the potential for a recession in 2016. Meanwhile, Hockey is confident that the Government can keep the unemployment rate at no more than 6.5 per cent, compared with 6.2 per cent at present.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, MACROECONOMICS.COM.AU PTY LTD, RESERVE BANK OF AUSTRALIA

‘No reason to deny’ Qantas-China Eastern deal

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Original article by Matt O’Sullivan
The Australian Financial Review – Page: 18 : 14-Apr-15

The Australian Competition & Consumer Commission (ACCC) opposes an alliance between Qantas and China Eastern Airlines. However, the Department of Infrastructure & Regional Development’s submission on the regulator’s draft decision argues that the alliance will benefit travellers and the Australian economy. It takes the view that the ACCC has focused too much on the alliance’s impact on competition on the Sydney-Shanghai route

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, CHINA EASTERN AIRLINES CORPORATION LIMITED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. DEPT OF INFRASTRUCTURE AND REGIONAL DEVELOPMENT, CATHAY PACIFIC AIRWAYS LIMITED, SINGAPORE AIRLINES LIMITED, MALAYSIAN AIRLINE SYSTEMS, UNIVERSITY OF TECHNOLOGY, SYDNEY. AUSTRALIA-CHINA RELATIONS INSTITUTE, AIR CHINA

Support up for GST rise, surplus

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 8 : 13-Apr-15

The latest Fairfax Media/Ipsos poll has found that 37 per cent of Australians support increasing the goods and services tax, compared with 30 per cent in May 2014. Meanwhile, 58 per cent of Australians say that achieving a Budget surplus should be a high priority for the Federal Government. The poll also found that the Australian Labor Party has 54 per cent support on a two-party preferred basis, compared with 46 per cent for the Coalition

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJIPSOS AUSTRALIA PTY LTDAUSTRALIAN LABOR PARTYAUSTRALIAN GREENSAUSTRALIA. DEPT OF THE TREASURYAUSTRALIA. DEPT OF FINANCE

Treasury may go alone on ‘Google tax’

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Original article by Joanna Mather
The Australian Financial Review – Page: 9 : 10-Apr-15

The Australian Government would like to introduce changes to the taxation system as soon as possible. Treasury deputy secretary Robert Heferen told the Senate inquiry into corporate tax avoidance on 9 April 2015 that the Government should act now rather than wait for the OECD’s action plan on base erosion and profit shifting. The implementation of the OECD plan would be very complicated

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

Hockey’s $1b ‘Netflix’ tax

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 5 : 10-Apr-15

Australia’s federal and state Treasurers have struck a deal to extend the application of the GST to items costing less than $A1,000 that are bought online and sourced from offshore. This will include digital versions of books, music and films that are downloaded or streamed from offshore providers. News Corp Australia CEO Julian Clarke recently criticised foreign companies such as Netflix for failing to pay GST, arguing that it gives them an unfair advantage over local rivals in terms of pricing their products

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIA. DEPT OF THE TREASURY, NETFLIX INCORPORATED, GOOGLE INCORPORATED, APPLE INCORPORATED, MICROSOFT CORPORATION, EBAY INCORPORATED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, GROUP OF TWENTY (G-20), ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, AUSTRALIAN NATIONAL RETAILERS ASSOCIATION LIMITED

‘No way’ to a Glencore-Rio merger: Hockey

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Original article by Amanda Saunders
The Australian Financial Review – Page: 17 & 22 : 9-Apr-15

The prohibition on Glencore executives commenting on a bid for Rio Tinto lapsed on 8 April 2015, six months after Rio rejected a takeover approach. Glencore is tipped to make another bid for Rio, but Australian Treasurer Joe Hockey is believed to have explicitly ruled out Federal Government approval for such a deal. His comments are said to have been made at a private meeting with business leaders and mining industry executives in late March

CORPORATES
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, AUSTRALIA. DEPT OF THE TREASURY, MINERALS COUNCIL OF AUSTRALIA, BUSINESS COUNCIL OF AUSTRALIA, BHP BILLITON LIMITED – ASX BHP, ARCHER DANIELS MIDLAND COMPANY, GRAINCORP LIMITED – ASX GNC, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, ALUMINIUM CORPORATION OF CHINA LIMITED

Leave GST allocation, as it is, Hockey advised

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 8-Apr-15

Australia’s federal and state Treasurers will meet in Canberra on 9 April 2015. The distribution of goods and services tax revenue will be on the agenda, with Western Australia arguing for some years that it is disadvantaged by the current distribution model. However, a Commonwealth Grants Commission report has recommended retaining the status quo

CORPORATES
AUSTRALIA. COMMONWEALTH GRANTS COMMISSION, AUSTRALIA. DEPT OF THE TREASURY

L-NP support jumps following Mike Baird’s triumph in NSW Election

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 7-Apr-15

A multi-mode Morgan Poll on Federal voting intention has found that support for the Coalition on a two-party preferred basis has risen by three per cent to 47 per cent. The poll, which was carried out on the weekends of 28-29 March and 3-6 April 2015, also shows that support for the Australian Labor Party has fallen by three per cent to 53 per cent. Roy Morgan Research executive chairman Gary Morgan says labour market deregulation is needed to stimulate the economy and enable the 2.5 million Australians who are unemployed and under-employed to get jobs

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MORGAN POLL, ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, PALMER UNITED PARTY, AUSTRALIA. DEPT OF THE TREASURY, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET

Keep tax credits, raise GST

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Original article by Patrick Durkin
The Australian Financial Review – Page: 8 : 7-Apr-15

A poll conducted among more than 560 members of the "Australian Financial Review" Business Leaders Panel suggests that Australians do not want the dividend imputation system to be abolished. They also expressed their opposition to proposals to remove tax concessions for superannuation and to reintroduce estate taxes. An increase in the goods and services tax rate is supported by 60 per cent of the panel

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Kiwis view Economic issues (40%) as the biggest problems facing NZ; Housing shortage/Housing affordability up 4% to 10% in March

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 2-Apr-15

A Roy Morgan telephone survey has found that 40 per cent of New Zealanders aged 14+ regard economic issues as the most important problem facing the nation. This is followed by government/public policy and human rights issues (26 per cent) and social issues (15 per cent). The survey, which was carried in March 2015, also shows that 41 per cent of New Zealanders rate war and terrorism as the biggest problem facing the world, followed by economic issues (25 per cent)

CORPORATES
ROY MORGAN RESEARCH LIMITED, NEW ZEALAND. DEPT OF THE PRIME MINISTER AND CABINET, INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE