AUSTRALIA – POLITICS AND GOVERNMENT

Shorten ‘a serial liar’ on super, tax

roymorgansocial Leave a comment

Original article by David Crowe
The Australian – Page: 1 & 8 : 10-Nov-16

Treasurer Scott Morrison is frustrated with the Australian Labor Party’s refusal to support his superannuation and tax reforms. The Government proposed a 19 per cent income tax on backpackers but Labor favours Senator Jacqui Lambie’s alternative plan for a 10.5 per cent tax. Labor also opposes allowing women to make "catch up" super contributions and the introduction of tax deductions for super contributions made by small business owners.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA

Media law changes rest in crossbenchers’ hands

roymorgansocial Leave a comment

Original article by Primrose Riordan
The Australian Financial Review – Page: 9 : 9-Nov-16

Communications Minister Mitch Fifield has criticised the Australian Labor Party for its stance on cross-media owership reform. Labor will vote against legislation to abolish the "two-out-of-three rule", arguing that it will lead to greater consolidation in the media sector and reduced diversity of voices. Although Labor supports scrapping the "reach rule", the Government will need the support of at least eight Senate crossbenchers for its media reform bill.

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

Super shapes as an election issue yet again

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 8 : 9-Nov-16

The Federal Government’s superannuation tax reforms are set to be passed by parliament, after the Australian Labor Party agreed to back the measures. However, Labor will seek a mandate for further super tax reform at the next election after Treasurer Scott Morrison refused to support the Opposition’s proposed changes to the Government’s reforms. Amongst other things, the Australian Labor Party had sought to have non-concessional contributions capped at $A75,000 per year, rather than $A100,000 as proposed by the Government.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, FINANCIAL SERVICES COUNCIL

Free-speech heat on Shorten

roymorgansocial Leave a comment

Original article by David Crowe, Rachel Baxendale
The Australian – Page: 1 & 4 : 9-Nov-16

The joint parliamentary committee on human rights will report the findings of an inquiry into the Racial Discrimination Act by 28 February 2017. Federal cabinet opted to refer the issue to the committee, which will examine the impact of sections 18C and 18D on freedom of speech. It will also consider possible changes to the way complaints are handled by the Australian Human Rights Commission. Meanwhile, AHRC president Gillian Triggs has indicated that she is open to changes to section 18C.

CORPORATES
AUSTRALIA. JOINT PARLIAMENTARY COMMITTEE ON HUMAN RIGHTS, AUSTRALIAN HUMAN RIGHTS COMMISSION, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS

Natural disasters a threat to billions of dollars of GDP

roymorgansocial Leave a comment

Original article by Sally Patten
The Australian Financial Review – Page: 27 : 8-Nov-16

The Federal Government has been urged to spend more money on mitigating the risks associated with natural disasters. SGS Economics & Planning and Insurance Australia Group estimate that 11 per cent of national GDP is at risk of being affected by bushfires, while cyclones pose a threat to 20 per cent of GDP. Disaster relief dominates in government spending on natural disasters, while only three per cent is spent on mitigation.

CORPORATES
INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, SGS ECONOMICS AND PLANNING PTY LTD, AUSTRALIA. PRODUCTIVITY COMMISSION

Senate committee backs media bill

roymorgansocial Leave a comment

Original article by Jake Mitchell
The Australian – Page: 4 : 8-Nov-16

The Senate environment and communications legislation committee has released its report on proposed changes to cross-media ownership laws. It has recommended that the upper house vote in favour of abolishing the "reach rule" and the "two-out-of-three" rule, although Australian Labor Party members of the committee opposed the latter reform. Labor believes that scrapping the "two-out-of-three" rule would particularly benefit News Corp Australia. However, the party supports another reduction in TV broadcasting licence fees.

CORPORATES
AUSTRALIA. SENATE ENVIRONMENT AND COMMUNICATIONS LEGISLATION COMITTEE, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, SEVEN WEST MEDIA LIMITED – ASX SWM, PRIME MEDIA GROUP LIMITED – ASX PRT, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Labor push for tougher cuts on superannuation

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 3 : 8-Nov-16

The Opposition will seek more changes to the Federal Government’s superannuation tax reforms in return for its support in parliament. Amongst other things, the Australian Labor Party wants non-concessional contributions to be capped at $A75,000 per year, rather than $A100,000 as proposed by the Government. The super legislation will be introduced into parliament during the second last sitting week for 2016, and the Government hopes the reforms will be passed by both houses before parliament rises for the year.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE

Shorten’s power policy switches

roymorgansocial Leave a comment

Original article by Joe Kelly
The Australian – Page: 1 & 6 : 7-Nov-16

Federal Energy Minister Josh Frydenberg says the Australian Labor Party has changed its stance on energy policy more than 10 times over the last decade. He has criticised the Opposition for adopting a policy of sourcing 50 per cent of Australia’s energy supply from renewable sources by 2030 when it had provided owners of coal-fired power stations with millions of dollars worth of taxpayers’ funds when it was in government. Labor had also given some $A268m worth of free carbon permits to the owners of the Hazelwood power station in Victoria.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIAN LABOR PARTY, ENGIE SA, FRONTIER ECONOMICS PTY LTD, VICTORIA. DEPT OF PREMIER AND CABINET

Labor to back Coalition super changes

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 8 : 7-Nov-16

Sources within the Australian Labor Party have indicated that it is likely to support most of the Federal Government’s proposed superannuation reforms. The Government has made a number of compromises in order to gain support for its reforms; amongst other things, it agreed to abandon a push to introduce a $A500,000 lifetime cap on non-concessional contributions. Meanwhile, the Senate’s legislative agenda for the week beginning 7 November includes the bill to hold a plebiscite on same-sex marriage.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ONE NATION PARTY

I won’t vote on any bills, vows Culleton

roymorgansocial Leave a comment

Original article by Joe Kelly
The Australian – Page: 4 : 7-Nov-16

One Nation senator Rod Culleton has indicated that he will abstain from voting in the Senate while the constitutional validity of his election in July remains uncertain. The High Court may be asked to determine whether Culleton was entitled to be elected, as he had been convicted of a criminal offence at the time of the 2016 federal election. Meanwhile, there has been speculation of a rift between Culleton and One Nation leader Pauline Hanson.

CORPORATES
ONE NATION PARTY, HIGH COURT OF AUSTRALIA