AUSTRALIA – POLITICS AND GOVERNMENT

Company tax cuts benefit all: OECD

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Original article by David Uren
The Australian – Page: 1 & 2 : 11-Jan-18

Treasurer Scott Morrison has signalled that company tax cuts will be a legislative priority for the Federal Government when parliament resumes in February. Labor, the Greens and Senate cross-benchers have previously opposed the Government’s push to provide tax relief for companies with turnover of more than $A50m. Meanwhile, a new study by the OECD has concluded that across-the-board corporate tax cuts result in increased business investment and "substantial" income gains for all wage and salary earners.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ONE NATION LIMITED, NICK XENOPHON TEAM, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Labor to stick with negative gearing policy

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Original article by Andrew Tillett, Misa Han
The Australian Financial Review – Page: 4 : 9-Jan-18

The Australian Labor Party has argued that a Treasury analysis produced almost two years ago demonstrates that its policy on negative gearing will boost housing affordability. The analysis, which was obtained under Freedom of Information laws, concluded that Labor’s proposed changes to the negative gearing and capital gains tax regimes would have relatively little negative effect on house prices. Shadow treasurer Chris Bowen has indicated that the proposed reforms will be part of Labor’s policy platform at the next federal election.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, PROPERTY COUNCIL OF AUSTRALIA LIMITED

Super raids to pay for health bills

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Original article by Sean Parnell, Sarah-Jane Tasker
The Australian – Page: 1 & 2 : 9-Jan-18

Government funding for the health system is under scrutiny following the release of data showing that more Australians are accessing their superannuation to finance medical procedures. The figures show that there were around 22,000 applications to draw upon super savings to pay medical bills in 2016-17, compared with just 4,000 in 2010-11. The Federal Government will review the existing rules regarding the early release of super savings, as well as out-of-pocket medical fees, which comprise about 20 per cent of spending on healthcare,

CORPORATES
AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN MEDICAL ASSOCIATION LIMITED, CONSUMERS’ HEALTH FORUM OF AUSTRALIA, AUSTRALIA. DEPT OF HEALTH, FINANCIAL PLANNING ASSOCIATION OF AUSTRALIA LIMITED

Malcolm Turnbull’s republic talk dismays colleagues

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Original article by Andrew Tillett
The Australian Financial Review – Page: Online : 3-Jan-18

Prime Minister Malcolm Turnbull’s talk of holding a postal ballot to decide how a future head of Australia might be decided does not have the support of Coalition MPs. Liberal MP Craig Kelly wants to see the government focus on issues such as energy prices in 2018, while Ian Goodenough says any talk of a republic "was a distraction". Acting Opposition Leader Tanya Plibersek described Turnbull’s postal ballot suggestion as a "thought bubble"

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Fresh GST fight with states looms

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Original article by Andrew Tillett
The Australian Financial Review – Page: 3 : 3-Jan-18

Federal Treasurer Scott Morrison has given the Productivity Commission more time to complete its review of how the goods and services tax is distributed among the states. The PC had been due to complete its inquiry by 31 January, but has now been given until 15 May. The delay is expected to particularly upset Western Australia, which has long contended that it loses out under the current GST distribution model. Morrison says the PC’s interim report into the GST has clearly shown the current system is "broken" and needs to be fixed.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. PRODUCTIVITY COMMISSION, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. COMMONWEALTH GRANTS COMMISSION, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET

Slash tax or lose investors

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Original article by Simon Benson
The Australian – Page: 1 & 4 : 21-Dec-17

A new analysis by the Treasury notes that since 2001 Australia has failed to respond to the global trend to reduce corporate tax rates. The Treasury briefing also cautions that Australian wages, investment, economic growth and the federal Budget will be adversely affected if federal parliament fails to reduce the company tax rate. The release of the Treasury analysis has coincided with the passage through both houses of Congress of US President Donald Trump’s tax package.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, REPUBLICAN PARTY (UNITED STATES), INTERNATIONAL MONETARY FUND, AUSTRALIAN LABOR PARTY, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Shorten hit by dual faction fury

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Original article by Joe Kelly, Samantha Hutchinson
The Australian – Page: 1 & 2 : 21-Dec-17

There is growing unrest within factions of the Australian Labor Party, ahead of several likely by-elections in early 2018. The powerful NSW Right faction has expressed concern about the party’s treatment of former Labor Senator Sam Dastyari, as well as the involvement of Opposition Leader Bill Shorten in negotiations with the Industrial Left faction in Victoria. A member of Labor’s Victorian Right faction says the deal for unions aligned with the Industrial Left to support the Centre Unity faction would not have proceeded without Shorten’s backing.

CORPORATES
AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, MARITIME UNION OF AUSTRALIA, TRANSPORT WORKERS’ UNION

Cash fails in bid to have AWU raid subpoenas thrown out

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 5 : 21-Dec-17

The Federal Court has ruled that Employment Minister Michaelia Cash must provide the Australian Workers’ Union with access to documents relating to a police raid on its offices in October. The AWU had sought access to communications between Cash’s office and the Registered Organisations Commission, which had authorised the raids as part of its investigation into an AWU donation to activist group GetUp.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIA. REGISTERED ORGANISATIONS COMMISSION, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN FEDERAL POLICE, AUSTRALIA. FAIR WORK OMBUDSMAN

Nationals’ split widens amid reshuffle fallout

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Original article by Laura Tingle
The Australian Financial Review – Page: 8 : 21-Dec-17

The Federal Government’s cabinet reshuffle has prompted disunity within the ranks of the National Party. Some members of the junior Coalition partner are displeased with the decision to drop Nationals MP Darren Chester from the infrastructure portfolio and Liberal-National Party MP Keith Pitt from his role as the assistant trade minister. There has been speculation that Pitt may seek to establish a separate Nationals party room or resign from the party and join the crossbench.

CORPORATES
NATIONAL PARTY OF AUSTRALIA, LIBERAL-NATIONAL PARTY OF QUEENSLAND

Australia’s emissions rise 5pc in two years

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Original article by Ben Potter
The Australian Financial Review – Page: 9 : 20-Dec-17

Australia will find it hard to meet its commitments under the Paris climate agreement, based on the latest figures on greenhouse gas emissions. Emissions have risen five per cent in the last two years, and are currently at 554 million tonnes of carbon dioxide per annum. This is tipped to rise to 570 million tonnes per annum by 2030 if measures such as new emission standards for cars and the federal government’s national energy guarantee are not imposed with suitable rigour. The farming and transport sectors are tipped to contribute the biggest increase in emissions in coming years, while the electricity sector is the largest contributor to greenhouse gas emissions.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN LABOR PARTY