AUSTRALIA – POLITICS AND GOVERNMENT

Morrison bank levy gets over the line

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Original article by Joe Kelly
The Australian – Page: 4 : 20-Jun-17

The Senate has passed a bill to impose a levy on the nation’s five largest banks, after the Australian Labor Party voted for it. However, One Nation opposed the levy, with Senator Brian Burston describing it as a "lazy, ugly, cheap solution". The Senate’s eco­nomics legislation committee has recommended that the levy should be reviewed within two years. Australian Bankers’ Association CEO Anna Bligh says any future review should consider adding a sunset clause to the legislation, but this has been ruled out by Treasurer Scott Morrison.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, ONE NATION PARTY, AUSTRALIAN BANKERS’ ASSOCIATION, LIBERAL PARTY OF AUSTRALIA

Crunch time as Coalition woos Hanson media vote

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Original article by Rosie Lewis
The Australian – Page: 4 : 20-Jun-17

Opposition Leader Bill Shorten says the Australian Labor Party supports key elements of the Federal Government’s proposed media reforms, but it still opposes scrapping the "two-out-of-three rule". Labor’s caucus will decide its stance on the bill on 20 June 2017, ahead of debate in the Senate. The support of One Nation may be crucial to passage of the legislation in the upper house, and the party has suggested the alternative of a "three-out-of-four" rule.

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AUSTRALIAN ABALONE EXPORTS PTY LTD, ONE NATION PARTY, AUSTRALIAN GREENS, NICK XENOPHON TEAM

Shoppies’ union faces scrutiny over wages scandal

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Original article by Ben Schneiders, Royce Millar
The Age – Page: 6 : 20-Jun-17

A Senate inquiry will investigate enterprise agreements between large retailers and the Shop, Distributive & Allied Employees Association which include penalty rates that are lower than the industry award "safety net". The Federal Government, the Australian Labor Party and the Greens have supported the motion by independent senator Nick Xenophon. Meanwhile, Retail & Fast Food Workers Union secretary Josh Cullinan has called for swift action to implement amendments to the Fair Work Act proposed by Greens MP Adam Bandt that are aimed at protecting employees from similar wage deals.

CORPORATES
SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, NICK XENOPHON TEAM, RETAIL AND FAST FOOD WORKERS UNION, COLES SUPERMARKETS AUSTRALIA PTY LTD, WOOLWORTHS LIMITED – ASX WOW, McDONALD’S AUSTRALIA LIMITED, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. DEPT OF EMPLOYMENT

Online GST reprieve till next year

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Original article by Rachel Baxendale
The Australian – Page: 5 : 20-Jun-17

The application of the goods and services tax to imported goods that cost less than $A1,000 has been delayed by 12 months, and will now take effect as from 1 July 2018. The measure has been welcomed by Australian retailers such as Harvey Norman, but slammed by online retail providers such as EBay and Amazon, which have threatened to prevent Australian consumers from using their portals if they were compelled to collect the GST.

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, EBAY INCORPORATED, AMAZON.COM INCORPORATED, ETSY INCORPORATED, ALIBABA.COM CORPORATION, DHL CORPORATION, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. PRODUCTIVITY COMMISSION

Work expense claims crackdown looms as ATO eyes rorts

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Original article by Joanna Mather
The Australian Financial Review – Page: 3 : 19-Jun-17

Richard Highfield, who provides guidance to the Australian Taxation Office on "revenue leakage" issues, suggests that tax deduction rorting could be costing the Federal Government up to $A1.2 billion per annum. He says that deductions on car expenses is the biggest cause of concern for the ATO and Treasury, while ATO commissioner Chris Jordan noted in April 2017 that excessive claims for work expenses is a bigger loss of revenue than tax evasion by multinationals. Taxpayers claimed $A21.8 billion in work-related deductions in 2014-15.

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AUSTRALIAN TAXATION OFFICE, AUSTRALIA. DEPT OF THE TREASURY, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, AUSTRALIA. HOUSE OF REPRESENTATIVES STANDING COMMITTEE ON ECONOMICS, LIBERAL PARTY OF AUSTRALIA

PM queried Robb’s China role

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Original article by Primrose Riordan
The Australian – Page: 5 : 16-Jun-17

Former Trade Minister Andrew Robb is said to have taken on a consulting role with Chinese firm Landbridge on 1 July 2016, the day before the federal election. With a recent television program having raised concerns over Chinese influence in Australia, Deputy Prime Minister Barnaby Joyce claimed that "questions" need to be asked about the timing of Robb’s appointment. Prime Minister Malcolm Turnbull says Robb had assured Martin Parkinson, the head of Turnbull’s department, that he had not breached any ministerial standards in taking on the role with Landbridge.

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AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, LANDBRIDGE GROUP COMPANY LIMITED, AUSTRALIAN LABOR PARTY, AUSTRADE, AUSTRALIA CHINA BUSINESS COUNCIL, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN BROADCASTING CORPORATION, FAIRFAX MEDIA LIMITED – ASX FXJ

Senate pushes union pay deal inquiry

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Original article by Ewin Hannan
The Australian – Page: 5 : 16-Jun-17

The Senate will proceed with an inquiry into enterprise bargaining agreements struck by the Shop, Distributive & Allied Employees Association and large retailers. The inquiry follows allegations that employers such as Coles and KFC had offered EBAs with lower penalty rates than the industry award. The inquiry’s scope to look into "any other related matters" will be restricted to penalty rates in the retail, hospitality and fast-food sectors. This is likely to exclude Cleanevent from the inquiry. Its controversial EBA was negotiated during the tenure of Opposition Leader Bill Shorten at the Australian Workers’ Union.

CORPORATES
SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION, COLES SUPERMARKETS AUSTRALIA PTY LTD, KFC, WOOLWORTHS LIMITED – ASX WOW, McDONALD’S AUSTRALIA LIMITED, CLEANEVENT PTY LTD, AUSTRALIAN LABOR PARTY, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIAN GREENS, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, NICK XENOPHON TEAM, ACTU

Adani coal bid clears native title hurdle

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Original article by Andrew Tillett
The Australian Financial Review – Page: 9 : 15-Jun-17

The Senate has passed amendments to the Native Title Act to overturn the Federal Court’s decision in the McGlade case. The court had ruled that an indigenous land use agreement would not be valid unless it was signed by every registered native title claimant, rather than just a majority of traditional owners. The McGlade ruling had major implications for Adani’s proposed Carmichael coal mine in Queensland. Some traditional owners oppose the project and intend to press ahead with legal action in a bid to stop it from proceeding.

CORPORATES
ADANI MINING PTY LTD, ADANI ENTERPRISES LIMITED, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. NATIONAL NATIVE TITLE TRIBUNAL, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, SUPREME COURT OF QUEENSLAND, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Lobby urges tighter curbs on LNG exports

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Original article by Matt Chambers
The Australian – Page: 20 : 15-Jun-17

Manufacturing Australia has warned that the Federal Government’s proposed LNG export controls are unlikely to have much impact on gas prices on the east coast. Its submission to the Government has backed the Australian Domestic Gas Security Mechanism, but it argues that the resources minister should be given greater power to intervene in the gas market. Meanwhile, Fereidun Fesharaki of FGE has forecast a sharp fall in the price of crude oil, which will in turn impact on LNG producers given than the LNG price is linked to the oil price.

CORPORATES
MANUFACTURING AUSTRALIA LIMITED, FACTS GLOBAL ENERGY GROUP OF COMPANIES, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, BLUESCOPE STEEL LIMITED – ASX BSL, BORAL LIMITED – ASX BLD, INCITEC PIVOT LIMITED – ASX IPL, CSR LIMITED – ASX CSR, SANTOS LIMITED – ASX STO, GLADSTONE LNG PTY LTD

Murdoch, Gordon in Ten deal

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Original article by Mitchell Bingemann, Darren Davidson
The Australian – Page: 17 & 27 : 15-Jun-17

Communications Minister Mitch Fifield says the Ten Network’s descent into voluntary administration has demonstrated the need for cross-media ownership reforms. Meanwhile, the struggling free-to-air broadcaster could potentially be privatised after shareholders Lachlan Murdoch and Bruce Gordon joined forces to develop a plan to refinance Ten. Their combined stake in Ten exceeds 22 per cent, but the joint venture arrangement does not breach media ownership or takeover laws.

CORPORATES
TEN REN TEA (AUSTRALIA) PTY LTD, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NEWS CORPORATION – ASX NWS, WIN CORPORATION PTY LTD, FOXTEL MANAGEMENT PTY LTD, AUSTRALIAN LABOR PARTY, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, KORDA MENTHA AND COLLEAGUES PTY LTD, 21ST CENTURY FOX INCORPORATED, CBS CORPORATION, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA