AUSTRALIA – POLITICS AND GOVERNMENT

Coalition cautioned on super ministry

roymorgansocial Leave a comment

Original article by Joe Kelly
The Australian – Page: 4 : 12-Dec-17

There is growing speculation that the Federal Government could create its proposed ministry of home affairs before Christmas. The so-called super-ministry was slated to be set up by mid-2018, and will place federal agencies such as the Australian Security Intelligence Organisation, the Australian Federal Police and the Australian Border Force within a single ministerial portfolio for the first time. Labor’s Mark Dreyfus says Immigration Minister Peter Dutton should not be sworn in as the home affairs minister until the enabling legislation has been passed by parliament.

CORPORATES
AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, AUSTRALIAN FEDERAL POLICE, AUSTRALIAN CRIMINAL INTELLIGENCE COMMISSION, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL PARTY OF AUSTRALIA

PM defiant in escalating China row

roymorgansocial Leave a comment

Original article by Laura Tingle
The Australian Financial Review – Page: 1 & 4 : 11-Dec-17

Prime Minister Malcolm Turnbull made it clear on the weekend of 10-11 December that he thinks China has been trying to interfere in Australian politics. Some China analysts have suggested that Turnbull might have been wiser to voice his concerns over the issue in private rather than in public, and that he might have been trying to use the issue to score domestic political points. Foreign Minister Julie Bishop believes that the relationship between Australia and China is strong enough to survive the current controversy.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION, AUSTRALIAN LABOR PARTY, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION, CHINA. MINISTRY OF COMMERCE

Nation uplifted as marriage bill passes

roymorgansocial Leave a comment

Original article by Geoff Chambers, Joe Kelly, Rachel Baxendale
The Australian – Page: 1 & 5 : 8-Dec-17

Same-sex marriage will be legalised in Australia after the private members’ bill of Liberal senator Dean Smith was passed by the House of Representatives on 7 December. Prime Minister Malcolm Turnbull has described it as a "unifying day" for Australians, and he expects the first same-sex marriages to occur in early January. Three Coalition MPs voted against the bill, while Tony Abbott and Scott Morrison are among seven who are believed to have abstained from voting. Several proposed amendments to the bill regarding religious freedom were rejected by the lower house. The bill was passed by the Senate in late November.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, LIBERAL PARTY OF AUSTRALIA, LIBERAL-NATIONAL PARTY OF QUEENSLAND, QANTAS AIRWAYS LIMITED – ASX QAN, AUSTRALIA. DEPT OF IMMIGRATION AND BORDER PROTECTION

Budget surplus to be brief: PBO

roymorgansocial Leave a comment

Original article by David Uren
The Australian – Page: 1 & 2 : 8-Dec-17

Treasurer Scott Morrison has downplayed modelling by the Parliamentary Budget Office which suggests that productivity will need to increase in order to ensure that a Budget surplus is sustained. The Federal Government has forecast that it will post surpluses equivalent to 0.3 per cent of GDP from 2020-21, although this is based on expectations that productivity growth will remain at the long-term average of 1.6 per cent. However, growth in productivity has averaged just 1.35 per cent over the last decade, and the PBO’s analysis has found that the Budget will be "broadly balanced" by 2027-28 unless productivity growth improves.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIA. PRODUCTIVITY COMMISSION, INTERNATIONAL MONETARY FUND, AUSTRALIAN LABOR PARTY

PM seeks more scalps as Labor refers duals

roymorgansocial Leave a comment

Original article by David Crowe
The Australian – Page: 1 & 7 : 7-Dec-17

The High Court will determine whether Australian Labor Party MPs David Feeney and Katy Gallagher are eligible to be in federal parliament due to dual citizenship concerns. Labor advised on 6 December that it will refer the matter to the court, and it is facing growing pressure over three of its other MPs. The Federal Government is seeking the support of crossbenchers in the lower house to also refer Justine Keay, Susan Lamb and Josh Wilson to the court. Labor in turn believes that a number of Coalition MPs should be referred to the High Court.

CORPORATES
AUSTRALIAN LABOR PARTY, HIGH COURT OF AUSTRALIA, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, NICK XENOPHON TEAM, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Banks inquiry top concern of US investors

roymorgansocial Leave a comment

Original article by Michael Roddan
The Australian – Page: 21 : 5-Dec-17

Shares in Australia’s major banks have fallen in the wake of the Federal Government’s decision to hold a royal commission into the sector. Westpac CEO Brian Hartzer says the issue of a royal commission has been a key concern for US investors in recent weeks. Meanwhile, the Opposition and the Australian Greens have urged the Government to broaden the inquiry’s terms of reference.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIA. DEPT OF THE TREASURY

Dual-citizenship debacle catches up with Shorten

roymorgansocial Leave a comment

Original article by Rosie Lewis, Rachel Baxendale, David Crowe
The Australian – Page: 1 & 6 : 5-Dec-17

Documents released on 4 December reveal that Labor Senator Katy Gallagher remained a UK citizen two months after nominations for the 2016 federal election closed. National Party leader Barnaby Joyce, who had to re-contest the seat of New England after being forced to resign over his dual citizenship, has accused Opposition Leader Bill Shorten of being a big hypocrite over the issue. Joyce noted that Shorten had claimed that no Labor MP would become embroiled in the dual-citizenship saga.

CORPORATES
AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA, HIGH COURT OF AUSTRALIA, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN GREENS, NICK XENOPHON TEAM, COURT OF DISPUTED RETURNS, LIBERAL PARTY OF AUSTRALIA

ACCC to investigate advertising secrets of Google and Facebook

roymorgansocial Leave a comment

Original article by Darren Davidson
The Australian – Page: 17 & 28 : 5-Dec-17

Australian Competition & Consumer Commission chairman Rod Sims is confident that it has sufficient powers to investigate the market power of digital platforms such as Google and Facebook. He says the ACCC’s inquiry into the impact of digital platforms on competition in media and advertising markets is likely to take around 18 months, with the Federal Government to receive a preliminary report on its findings within 12 months. Sims adds that the ACCC will seek input from all parties affected by the growing market dominance of digital players.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, WPP PLC, GROUPM COMMUNICATIONS PTY LTD

Developers told GST changes out of left field despite talks

roymorgansocial Leave a comment

Original article by Duncan Hughes
The Australian Financial Review – Page: 10 : 4-Dec-17

Changes to the goods and services tax treatment of property transactions are due to take effect on 1 July 2018, although they must first be passed by parliament. They are aimed at preventing a practice known as "phoenixing", whereby developers close their business before they have settled their GST obligations, and start up another entity under a different name. The changes are tipped to boost GST collection by $A660 million over four years, but developers are concerned that they will face more red tape and greater compliance costs.

CORPORATES
AUSTRALIAN TAXATION OFFICE, FEHILY ADVISORY

Trump’s tax cut puts heat on Labor

roymorgansocial Leave a comment

Original article by Andrew White, Cameron Stewart
The Australian – Page: 1 & 4 : 4-Dec-17

Australian business leaders have warned that jobs and investment will be at risk unless proposed changes to the corporate tax regime are implemented. Business Council of Australia CEO Jennifer Westacott says the US will attract more capital at the expense of Australia after the US Senate passed the tax package of President Donald Trump. The US corporate tax rate will be slashed from 35 per cent to around 20 per cent, prompting business groups to urge the Australian Labor Party and crossbenchers to support the proposal for an across-the-board reduction in Australia’s company tax rate to 25 per cent.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN LABOR PARTY, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, PRICEWATERHOUSECOOPERS, UNIVERSITY OF SYDNEY. UNITED STATES STUDIES CENTRE, AUSTRALIA. DEPT OF THE TREASURY, REPUBLICAN PARTY (UNITED STATES)