AUSTRALIA – POLITICS AND GOVERNMENT

Gold traders’ scam ripped off $1bn GST

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Original article by Ben Butler
The Australian – Page: 21 : 1-Mar-18

The Australian Taxation Office estimated in February 2017 that goods and services tax fraud by gold traders had cost the federal government around $A700m in revenue. However, ATO deputy commissioner Timothy Dyce has told a Senate committee that the forgone revenue may now be almost $A1bn. He added that legislation enacted in April 2017 has closed the loophole which enabled gold traders to avoid GST liability.

CORPORATES
AUSTRALIAN TAXATION OFFICE, AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS, NATIONAL PARTY OF AUSTRALIA

Treasury boss backs company tax cuts

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Original article by David Uren
The Australian – Page: 5 : 1-Mar-18

Treasury secretary John Fraser appeared before the Senate economics committee on 28 February, arguing the case for the Federal Government’s corporate tax package. He warned that Australia will have one of the highest company tax rates among developed nations following tax cuts in the US, the UK and France, and its international competitiveness will be adversely affected if across-the-board company tax cuts do not proceed. Meanwhile, Treasury adviser Michael Kouparitsas refuted Labor’s claim that foreign investors would be the main beneficiaries of the tax cuts.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS, AUSTRALIAN TAXATION OFFICE

Shorten’s excellent $17,000 coral and coal adventure

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Original article by Joe Kelly, Sarah Elks
The Australian – Page: 1 & 4 : 1-Mar-18

Federal Opposition Leader Bill Shorten has disclosed that the Australian Conservation Foundation paid for him to tour the Great Barrier Reef and take a chartered flight over the site of Adani’s proposed Carmichael coal mine. ACF CEO Kelly O’Shanassy says Shorten subsequently discussed Labor’s options for blocking the Carmichael project with herself and environmentalist Geoff Cousins. Shorten has attracted criticism over his inconsistent stance on coal mining.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN CONSERVATION FOUNDATION INCORPORATED, ADANI MINING PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Nats urged to opt for reshuffle-lite

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Original article by Phillip Coorey, Andrew Tillett
The Australian Financial Review – Page: 4 : 12-Jan-18

A National Party insider has cautioned against a major revamp of the junior Coalition partner’s ministerial team under new leader Michael McCormack. The source also warned that the Nationals would face unrest within its ranks if McCormack is seen to be rewarding his supporters when allocating portfolios. Meanwhile, there is speculation that Darren Chester will replace McCormack as the Minister for Veterans Affairs, with the latter set to become Minister for Infrastructure.

CORPORATES
NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF VETERANS’ AFFAIRS, AUSTRALIA. DEPT OF INFRASTRUCTURE AND REGIONAL DEVELOPMENT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. INDEPENDENT PARLIAMENTARY EXPENSES AUTHORITY

Energy mess deters US investors

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 28-Feb-18

DowDuPont’s executive chairman Andrew Liveris has warned that uncertainty over Australia’s energy policy is adversely affecting foreign investment intentions. He recently participated in a round-table discussion in the US with Prime Minister Malcolm Turnbull, state and territory leaders and the CEOs of major US companies. Liveris told the meeting that while Dow is keen to further invest in Australia, this is dependent on a competitive and reliable energy market. He also urged bipartisan support for the Federal Government’s National Energy Guarantee.

CORPORATES
DOWDUPONT INCORPORATED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN LABOR PARTY, COUNCIL OF AUSTRALIAN GOVERNMENTS

Shorten vowed to kill Adani mine

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Original article by Rhian Deutrom, Sarah Elks
The Australian – Page: 1 & 4 : 28-Feb-18

Former Australian Conservation Foundation president Geoff Cousins held private meetings with Opposition Leader Bill Shorten in January. They discussed the potential environmental impact of Adani’s proposed Carmichael coal mine in Queensland, and Cousins says Shorten repeatedly stated that Labor will revoke Adani’s coal mining licence on environmental grounds if it wins the next election. Shorten’s stance on the Carmichael mine has wavered over the last year, and Cousins argues that he needs to resolve Labor’s policy regarding the controversial project.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN CONSERVATION FOUNDATION INCORPORATED, ADANI MINING PTY LTD, QUEENSLAND. DEPT OF THE PREMIER AND CABINET

Nats urged to opt for reshuffle-lite

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Original article by Phillip Coorey, Andrew Tillett
The Australian Financial Review – Page: 4 : 12-Jan-18

A National Party insider has cautioned against a major revamp of the junior Coalition partner’s ministerial team under new leader Michael McCormack. The source also warned that the Nationals would face unrest within its ranks if McCormack is seen to be rewarding his supporters when allocating portfolios. Meanwhile, there is speculation that Darren Chester will replace McCormack as the Minister for Veterans Affairs, with the latter set to become Minister for Infrastructure.

CORPORATES
NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF VETERANS’ AFFAIRS, AUSTRALIA. DEPT OF INFRASTRUCTURE AND REGIONAL DEVELOPMENT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. INDEPENDENT PARLIAMENTARY EXPENSES AUTHORITY

Energy mess deters US investors

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 28-Feb-18

DowDuPont’s executive chairman Andrew Liveris has warned that uncertainty over Australia’s energy policy is adversely affecting foreign investment intentions. He recently participated in a round-table discussion in the US with Prime Minister Malcolm Turnbull, state and territory leaders and the CEOs of major US companies. Liveris told the meeting that while Dow is keen to further invest in Australia, this is dependent on a competitive and reliable energy market. He also urged bipartisan support for the Federal Government’s National Energy Guarantee.

CORPORATES
DOWDUPONT INCORPORATED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN LABOR PARTY, COUNCIL OF AUSTRALIAN GOVERNMENTS

Shorten vowed to kill Adani mine

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Original article by Rhian Deutrom, Sarah Elks
The Australian – Page: 1 & 4 : 28-Feb-18

Former Australian Conservation Foundation president Geoff Cousins held private meetings with Opposition Leader Bill Shorten in January. They discussed the potential environmental impact of Adani’s proposed Carmichael coal mine in Queensland, and Cousins says Shorten repeatedly stated that Labor will revoke Adani’s coal mining licence on environmental grounds if it wins the next election. Shorten’s stance on the Carmichael mine has wavered over the last year, and Cousins argues that he needs to resolve Labor’s policy regarding the controversial project.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN CONSERVATION FOUNDATION INCORPORATED, ADANI MINING PTY LTD, QUEENSLAND. DEPT OF THE PREMIER AND CABINET

Nationals leader: I’m not Barnaby

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Original article by Andrew Tillett
The Australian Financial Review – Page: 6 : 27-Feb-18

New National Party leader Michael McCormack says he will not seek to emulate former leader Barnaby Joyce in terms of his leadership style. McCormack, who also becomes Deputy Prime Minister as a result of his elevation to the Nationals leadership, notes that everyone has their own way of acting as a leader. McCormack has taken over Joyce’s transport and infrastructure portfolios, and rejects claims that the proposed $A10 billion inland rail link from Brisbane to Melbourne will not deliver a return for taxpayers.

CORPORATES
NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY