AUSTRALIA – POLITICS AND GOVERNMENT

Reworked tax package to include personal cut

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Original article by David Uren
The Australian – Page: 2 : 12-Jan-18

The Australian Labor will again vote against a bill to reduce the tax rate for all companies if it is reintroduced to the Senate. Shadow treasurer Chris Bowen argues that there are greater priorities for the Budget. Financial Services Minister Kelly O’Dwyer has urged Labor to support the legislation, which will return to the Senate when parliament resumes in February. There is speculation that both company and personal income tax cuts will feature in the May 2018 Budget if the upper house rejects the legislation again.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF THE TREASURY, NICK XENOPHON TEAM

Charities fear donations bill a muzzle

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Original article by Rachel Baxendale
The Australian – Page: 4 : 11-Jan-18

Finance Minister Mathias Cormann has rejected claims that the Federal Government’s move to ban foreign donations to political parties will limit the ability of charities to engage in public debate on social issues. Charities would be required to register as a political campaigner if their "political expenditure" has exceeded $A100,000 in any of the last four years. John Falzon of the St Vincent de Paul Society says the bill is targeting organisations that are critical of government policy, and it will increase the compliance burden for charities.

CORPORATES
AUSTRALIA. DEPT OF FINANCE, ST VINCENT DE PAUL SOCIETY, COMMUNITY COUNCIL FOR AUSTRALIA LIMITED

Minerals Council: End rigid industrial laws

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Original article by Tom McIlroy
The Australian Financial Review – Page: 5 : 11-Jan-18

The Minerals Council of Australia has used its pre-Budget submission to urge the Federal Government to pursue industrial relations reforms. Amongst other things, the MCA has proposed changes to workplace right-of-entry rules for unions, new restrictions regarding protected industrial action and an overhaul of the rules governing enterprise bargaining. Interim CEO David Byers has warned that Australia’s productivity and competitiveness will be adversely affected if there are no changes to the nation’s "outdated" workplace practices.

CORPORATES
MINERALS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF EMPLOYMENT, GLENCORE PLC, ACTU

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

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

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