AUSTRALIA – POLITICS AND GOVERNMENT

Reforms face stiff test from Hanson

roymorgansocial Leave a comment

Original article by Mitchell Bingemann
The Australian – Page: 23 : 13-Feb-17

The Federal Government’s cross-media ownership reforms will require the support of Senate crossbenchers. However, One Nation senator Pauline Hanson is said to be concerned about foreign ownership of Australian media assets, while Nick Xenophon advocates imposing a "super profits" tax on Google and Facebook due to their growing dominance of the online advertising market. Communications Minister Mitch Fifield is tipped to introduce the media reform bill in the upper house in mid-February 2017.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, ONE NATION PARTY, NICK XENOPHON TEAM, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

Donald Trump slams ‘dumb’ refugee deal with Australia after ‘worst’ phone call

roymorgansocial Leave a comment

Original article by Stephanie Anderson, Henry Belot
abc.net.au – Page: Online : 3-Feb-17

Prime Minister Malcolm Turnbull says US President Donald Trump has committed to honouring a deal made by predecessor Barack Obama to accept refugees being held on Manus Island and Nauru. However, Trump has used Twitter to criticise what he has branded a "dumb deal", just hours after discussing the issue in a telephone call to Turnbull. The Australian National University’s Professor Donald Rothwell says the Trump Administration has no legal obligation to accept the refugee deal, as it did not constitute a treaty.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIAN NATIONAL UNIVERSITY, AUSTRALIAN LABOR PARTY, UNITED STATES. DEPT OF STATE, TWITTER INCORPORATED

PM’s push for clean coal power

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 2-Feb-17

Prime Minister Malcolm Turnbull says the focus of the nation’s energy policy must be on ensuring a reliable supply of low-cost energy. He has called for the abolition of state-based bans on coal-seam gas projects and argued that clean coal should be part of the nation’s energy mix. Turnbull has also stressed the need for investment in storage technology for renewable energy. Industry Minister Arthur Sinodinos has raised the possibility that the Clean Energy Finance Corporation could help finance the development of a clean-coal power station.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. CLEAN ENERGY FINANCE CORPORATION, AUSTRALIAN LABOR PARTY, AUSTRALIAN RENEWABLE ENERGY AGENCY, CLIMATE INSTITUTE (AUSTRALIA) LIMITED, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIA. DEPT OF THE TREASURY

It’s time to raise GST, says Proust

roymorgansocial Leave a comment

Original article by Glenda Korporaal
The Australian – Page: 19 & 22 : 2-Feb-17

Australian Institute of Company Directors president Elizabeth Proust says the Federal Government should pursue comprehensive tax reform. She argues that this should include increasing the goods and services tax from 10 per cent to 15 per cent, and adds that reducing personal income tax rates should also be a higher priority than company tax cuts. The AICD released a position paper in 2016 which noted that the average GST rate among OECD countries is 19.2 per cent.

CORPORATES
AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Hanson set to scupper ownership laws

roymorgansocial Leave a comment

Original article by Darren Davidson
The Australian – Page: 26 : 30-Jan-17

There is speculation that One Nation will vote against the Federal Government’s cross-media ownership reforms when Parliament resumes in February. One Nation founder Pauline Hanson has declined to comment on her party’s intentions, although the Government is likely to need its support to pass the bill in the Senate. Meanwhile, Senator Nick Xenophon will push for amendments to the bill, as well as the introduction of a "super tax" on digital players Google and Facebook.

CORPORATES
ONE NATION PARTY, NICK XENOPHON TEAM, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, FAIRFAX MEDIA LIMITED – ASX FXJ, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Unions pressure Shorten on TPP

roymorgansocial Leave a comment

Original article by Joanna Mather
The Australian Financial Review – Page: 4 : 18-Jan-17

Prime Minister Malcolm Turnbull believes that the Trans-Pacific Partnership trade deal can proceed without the US. However, Opposition Leader Bill Shorten has questioned why Turnbull is still supporting the TPP when it is unlikely to go ahead. ACTU president Ged Kearney has urged Shorten to state whether the Australian Labor Party will vote against the TPP legislation if it is put before Parliament. Shorten has only indicated that Labor will consider the bill.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, TRANS-PACIFIC PARTNERSHIP, AUSTRALIAN LABOR PARTY, ACTU, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, REPUBLICAN PARTY (UNITED STATES)

$200b ‘Google tax’ could snare innocent businesses

roymorgansocial Leave a comment

Original article by Joanna Mather
The Australian Financial Review – Page: 1 & 4 : 18-Jan-17

Chartered Accountants Australia & New Zealand has warned that the Federal Government’s Diverted Profits Tax will deter investment in Australia, while discouraging local multinational companies from pursuing overseas expansion. Greenwoods & Herbert Smith Freehills has expressed concern about the scope of the draft legislation compared with the British version of the tax. The tax, which aims to combat profit-shifting by multinationals, is forecast to raise about $A200m over four years and is slated to take effect from mid-2017.

CORPORATES
CHARTERED ACCOUNTANTS AUSTRALIA AND NEW ZEALAND, GREENWOODS AND HERBERT SMITH FREEHILLS PTY LTD, CORPORATE TAX ASSOCIATION, AUSTRALIAN TAXATION OFFICE, AUSTRALIA. DEPT OF THE TREASURY, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Turnbull lashes Shorten for TPP stand

roymorgansocial Leave a comment

Original article by Joe Kelly, Annabel Hepworth
The Australian – Page: 1 & 2 : 17-Jan-17

Federal Opposition Leader Bill Shorten will move to block a push to bring forward a parliamentary vote on ratification of the Trans-Pacific Partnership. Shorten argues that there is no point in proceeding with a vote on the TPP as the US will not ratify the 12-nation agreement under incoming President Donald Trump. Prime Minister Malcolm Turnbull has criticised Shorten’s stance and indicated that the TPP could potentially proceed without the US. The Greens also oppose the TPP.

CORPORATES
AUSTRALIAN LABOR PARTY, TRANS-PACIFIC PARTNERSHIP, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN GREENS, NICK XENOPHON TEAM, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, JAPAN. OFFICE OF THE PRIME MINISTER, ASIA-PACIFIC ECONOMIC CO-OPERATION. BUSINESS ADVISORY COUNCIL, BUSINESS COUNCIL OF AUSTRALIA

Turnbull lashes Shorten for TPP stand

roymorgansocial Leave a comment

Original article by Joe Kelly, Annabel Hepworth
The Australian – Page: 1 & 2 : 17-Jan-17

Federal Opposition Leader Bill Shorten will move to block a push to bring forward a parliamentary vote on ratification of the Trans-Pacific Partnership. Shorten argues that there is no point in proceeding with a vote on the TPP as the US will not ratify the 12-nation agreement under incoming President Donald Trump. Prime Minister Malcolm Turnbull has criticised Shorten’s stance and indicated that the TPP could potentially proceed without the US. The Greens also oppose the TPP.

CORPORATES
AUSTRALIAN LABOR PARTY, TRANS-PACIFIC PARTNERSHIP, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN GREENS, NICK XENOPHON TEAM, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, JAPAN. OFFICE OF THE PRIME MINISTER, ASIA-PACIFIC ECONOMIC CO-OPERATION. BUSINESS ADVISORY COUNCIL, BUSINESS COUNCIL OF AUSTRALIA

Forecast tax take out by $30bn

roymorgansocial Leave a comment

Original article by David Uren
The Australian – Page: 2 : 13-Jan-17

The Parliamentary Budget Office has released its review of the Australian Government’s mid-year budget update. It shows that the forecast for revenue from personal income tax was $A21.1bn lower than in the May 2016 Budget, while company tax revenue was scaled back by $A6.7bn. Meanwhile, the budget update included savings of some $A10bn due to a reduction in the forecast cost of age pensions, carers’ payments and childcare subsidies. The forecasts for spending on health and education were largely unchanged from the Budget.

CORPORATES
AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIA. DEPT OF HUMAN SERVICES. CENTRELINK