AUSTRALIA – POLITICS AND GOVERNMENT

IPA advocates income tax power be given to states

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Original article by Brad Thompson
The Australian Financial Review – Page: 12 : 12-Dec-17

The distribution of goods and services tax revenue between the states and territories continues to attract scrutiny. The Institute of Public Affairs has proposed the adoption of a system of "competitive federalism", whereby the states would be responsible for setting their own GST rate and retaining the revenue. IPA executive director John Roskam suggests that the states and territories could also be allowed to impose their own income taxes, but notes that they baulked at this when the idea was put forward by Prime Minister Malcolm Turnbull in 2016.

CORPORATES
INSTITUTE OF PUBLIC AFFAIRS LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. PRODUCTIVITY COMMISSION

Shorten weighs up move on Dastyari

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Original article by Simon Benson, Andrew Clennell, Rachel Baxendale
The Australian – Page: 1 & 4 : 12-Dec-17

Federal Opposition Leader Bill Shorten is under growing pressure to take action regarding senator Sam Dastyari, who is continuing to attract scrutiny over his links with China. Opinion within Labor’s ranks is divided, with Tony Burke and Anthony Albanese publicly supporting Dastyari, while Catherine King and Linda Burney are among those who believe that he should resign. Former Labor leader Kim Beazley has urged Dastyari to act in the best interests of his party and the nation, while Prime Minister Malcolm Turnbull has described Shorten’s lack of action on the issue of Dastyari as a scandal.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CHINA. MINISTRY OF COMMERCE, UNIVERSITY OF TECHNOLOGY, SYDNEY. AUSTRALIA-CHINA RELATIONS INSTITUTE

I’ve revived economy: Turnbull

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Original article by Phillip Coorey, Laura Tingle
The Australian Financial Review – Page: 1 & 4 : 12-Dec-17

Prime Minister Malcolm Turnbull say he hopes to have all of the states and territories signed up to the national energy guarantee by the middle of 2018. Turnbull also says that 2018 will see his government focus on the economy, including trying to get parliament to approve the rest of its corporate tax reduction program, as well as looking at the possibility of income tax cuts. He expects that there will be more to come concerning the scandal involving Labor’s Sam Dastyari.

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

Coalition cautioned on super ministry

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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

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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

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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

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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

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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

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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

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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