O75 Public Administration

Post-budget uncertainty takes toll on CFO confidence

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Original article by Shaun Drummond
The Australian Financial Review – Page: 19 : 16-Jul-14

Deloitte has released the findings of its quarterly survey of Australian CFOs. Some 62 per cent of respondents expect the Federal Government’s May 2014 Budget to adversely affect the economy. Meanwhile, 38 per cent said the Budget will negatively affect their company, although 40 per cent anticipate no impact. The survey for the June quarter also found that 70 per cent of CFOs forecast revenue growth in the next 12 months

CORPORATES
DELOITTE TOUCHE TOHMATSU LIMITED

Business says free up rules

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Original article by Ben Potter, Mathew Dunckley
The Australian Financial Review – Page: 6 : 15-Jul-14

The Business 20 (B20) summit will be staged in Sydney in the week starting 14 July 2014. B20 is a forum designed to help business leaders lobby the Australian Government as it prepares for the Group of 20 (G20) summit in Brisbane later in the year. The B20 delegates headed by Richard Goyder and Robert Milliner want the Government to use the G20 agenda as a tool for boosting economic growth. The focus will be on free trade, infrastructure investment and reduced regulation. The latter applies in particular to the banking sector

CORPORATES
BUSINESS 20 (B20), GROUP OF TWENTY (G-20), KPMG AUSTRALIA PTY LTD, WESFARMERS LIMITED – ASX WES, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, BANK FOR INTERNATIONAL SETTLEMENTS. BASEL COMMITTEE ON BANKING SUPERVISION, FINANCIAL STABILITY BOARD, RESERVE BANK OF AUSTRALIA, LOWY INSTITUTE FOR INTERNATIONAL POLICY

Wind farms ‘to yield job losses’

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Original article by Adam Creighton
The Australian – Page: 21-24 : 15-Jul-14

Jeff Dimery, CEO of gas and coal power generation plants operator Alinta Energy, has urged the Australian Government to lower the renewable energy target (RET). He argued that the wind farms being built across the nation with funding linked to the RET were outdated technology, and that a more useful area of investment would be batteries that mean households with solar roof panels can store the electricity they create. Dimery also forecast widespread redundancies at coal mines in Victoria and New South Wales under the RET. It is being reviewed for the Federal Government by business leader Dick Warburton

CORPORATES
ALINTA ENERGY (AUSTRALIA) PTY LTD

Carbon tax price reductions, maybe

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 15-Jul-14

The Australian Government has reintroduced the bill to repeal the carbon tax in Parliament, after agreeing to make amendments demanded by the Palmer United Party. The Government hopes that the legislation will be passed through the Senate on 15 July 2014. Explanatory notes attached to the legislation show that it will be difficult to calculate the costs imposed by the carbon tax and passed on to consumers. Under the amended legislation, gas and electricity supplies must specify within 30 days how the cost savings will flow to customers

CORPORATES
PALMER UNITED PARTY, AUSTRALIA. DEPT OF THE ENVIRONMENT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Make or break for summit

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Original article by Ben Potter, Mathew Dunckley
The Australian Financial Review – Page: 4 : 14-Jul-14

The Business 20 (B20) forum will accompany the Group of 20 (G20) leaders’ summit in Australia in late 2014. A preparatory meeting of the B20 is being staged in mid-July, and the participants have set a new focus on financing growth, human capital, infrastructure and trade. Experts such as International Monetary Fund ex-deputy MD John Lipsky argue that the November summit will be crucial in setting the path for the G20 for years to come, and failure to achieve meaningful outcomes will be a major missed opportunity. They urge Prime Minister Tony Abbott to be forceful in setting the agenda

CORPORATES
BUSINESS 20 (B20), GROUP OF TWENTY (G-20), AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, KPMG AUSTRALIA PTY LTD, LOWY INSTITUTE FOR INTERNATIONAL POLICY, AUSTRALIA. DEPT OF THE TREASURY, INTERNATIONAL MONETARY FUND, WORLD TRADE ORGANIZATION, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, FINANCIAL STABILITY BOARD

Editing of TV interview was ‘unethical’, says new senator

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Original article by Heath Aston
The Sydney Morning Herald – Page: 6 : 14-Jul-14

A complaint letter to Seven West Media and the Australian Communications & Media Authority was prepared by defamation lawyer Peter Breen, the adviser to new federal senator Ricky Muir. The Australian Motoring Enthusiast Party politician however asked Breen not to lodge the complaint, over the treatment of Muir by journalist Mike Willesee. The "Sunday Night" current affairs program in June 2014 had shown an interview with Muir during which he struggled to give answers, and it also included footage of Muir being coached by party founder Keith Littler. Muir claims he was told this part would be edited out, and that Seven acted in a "unethical" manner

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIAN MOTORING ENTHUSIAST PARTY, AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY

Abbott gets deal to axe carbon tax

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 14-Jul-14

The Australian Government appears to have secured a compromise deal with Clive Palmer to abolish the carbon tax. The Government has agreed to Palmer’s requirement that the energy sector will be the only industry that would be subject to a disclosure regime regarding the carbon tax and the cost saving arising from its abolition. The Government hopes to put the carbon tax repeal legislation to the Senate on 14 July 2014

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, PALMER UNITED PARTY, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE ENVIRONMENT, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIA. CLIMATE CHANGE AUTHORITY

Finance, unis big winners

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Original article by Jacob Greber, Fleur Anderson, Greg Earl, Matthew Cranston
The Australian Financial Review – Page: 1 & 4 : 9-Jul-14

A new economic partnership agreement (EPA) has been struck between Australia and Japan. Apart from the automobile and agricultural sectors in Japan and Australia respectively, the main winners will be sections of the Australian services industry. The Japanese Government will open this area to Australian educational, legal and financial services providers. Business leader Sir Rod Eddington has welcomed the focus on services. He also warned that investment by Japanese parties will require a stable political and regulatory environment in Australia, but dismissed fears the deal may harm the relationship with China

CORPORATES
AUSTRALIAN SERVICES ROUNDTABLE, WORLD TRADE ORGANIZATION, RIO TINTO LIMITED – ASX RIO, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, INFRASTRUCTURE AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, FINANCIAL SERVICES COUNCIL

Complaints may spur sham charity clampdown

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Original article by Nassim Khadem
The Australian Financial Review – Page: 40 : 9-Jul-14

Taxation experts predict a crackdown on businesses that obtain tax-exempt status by setting up fake charities. Such abuses account for about a quarter of the 805 complaints received by the Australian Charities & Not-for-profits Commission since it began operating in May 2014. The Federal Government wants to scrap the watchdog and hand responsibility for the charities sector back to the Australian Taxation Office

CORPORATES
AUSTRALIAN TAXATION OFFICE, AUSTRALIAN CHARITIES AND NOT-FOR-PROFITS COMMISSION, WEALTH SAFE PTY LTD

Carbon tax set for scrap heap as Palmer finalises ETS details

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Original article by Lisa Cox, James Massola, Tom Arup
The Sydney Morning Herald – Page: 5 : 9-Jul-14

There was further discussion in the Australian Senate on 8 July 2014 of the Federal Government’s legislation to repeal the carbon tax, with a vote now expected by 9 July. While the Australian Labor Party and Australian Greens are opposed, Prime Minister Tony Abbott will be able to pass the bill with the help of the Palmer United Party. However, in return it will extract a pledge to force electricity companies to pass on the savings in full and show them on bills sent to consumers. The Climate Change Authority will also be retained. Meanwhile Australian Motoring Enthusiast Party senator Ricky Muir wants to stop the abolition of the Australian Renewable Energy Agency as well

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, PALMER UNITED PARTY, AUSTRALIAN MOTORING ENTHUSIAST PARTY, AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY, AUSTRALIA. CLIMATE CHANGE AUTHORITY, AUSTRALIAN RENEWABLE ENERGY AGENCY