AUSTRALIA – POLITICS AND GOVERNMENT

Media bill in hands of crossbench

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Original article by Max Mason
The Australian Financial Review – Page: 27 : 7-Nov-16

The Senate Environment & Communications Legislation Committee’s report on its inquiry into proposed cross-media ownership reforms is slated to be released on 7 November 2016. The committee is expected to recommend that the upper house should vote in favour of the bill. However, the Federal Government is likely to require the support of nine crossbenchers, as the Australian Labor Party and the Greens may oppose abolition of the "two out of three rule".

CORPORATES
AUSTRALIA. SENATE ENVIRONMENT AND COMMUNICATIONS LEGISLATION COMITTEE, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, NICK XENOPHON TEAM, ONE NATION PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, HIGH COURT OF AUSTRALIA

PC head hits out at slow pace of workplace reform

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 7 : 4-Nov-16

The Federal Government has been urged to pursue industrial relations reform more vigorously. Productivity Commission chairman Peter Harris stresses the need for "continuous reform." He favours the creation of an independent agency whose role would be to determine the minimum wage and award standards. Harris will share his views on this topic with those attending a labour law conference in Melbourne on 4 November 2016.

CORPORATES
AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIA. FAIR WORK COMMISSION

Reform plans in peril as second senator in strife

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Original article by David Crowe
The Australian – Page: 1 & 4 : 3-Nov-16

The Australian Government has become even more reliant on the support of Senate crossbenchers to pass its industrial relations bills. It will need eight crossbenchers to vote for the bills, with One Nation’s Rod Culleton advising that he will not vote in the upper house until uncertainty regarding the validity of his election is resolved. The issue will be referred to the High Court, which will also be asked to determine whether the election of Family First’s Bob Day was constitutionally valid. Day has resigned from the Senate, but the High Court’s ruling could determine with the party retains his seat.

CORPORATES
FAMILY FIRM INSTITUTE, ONE NATION PARTY, HIGH COURT OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIAN LABOR PARTY, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, NICK XENOPHON TEAM

Coal, iron ore budget windfall

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Original article by Matt Chambers
The Australian – Page: 19 & 32 : 3-Nov-16

The rally in the price of iron ore, coking coal and thermal coal is expected to boost the 2016-17 revenue of the Federal Government and mining states. It is estimated that tax revenue and mining royalties could be around $A12bn higher than the Federal Government and its counterparts in Western Australia, New South Wales and Queensland had forecast. However, this will depend on whether the prices of Australia’s key export commodities remain at around current levels. Macquarie Group expects coal prices to eventually fall, but stresses that the timing of this will depend on Chinese Government policy.

CORPORATES
MACQUARIE GROUP LIMITED – ASX MQG, HSBC AUSTRALIA HOLDINGS PTY LTD, STANDARD AND POOR’S CORPORATION, DEUTSCHE BANK AG, RESERVE BANK OF AUSTRALIA, GLENCORE PLC

Senate chaos as Day challenged

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 2-Nov-16

The High Court will be asked to rule on the validity of Family First senator Bob Day’s re-election, due to concerns about the receipt of rent payments from the Federal Government for his electoral office. Day has a pecuniary interest in the property in question, and the court may order a recount if his re-election is deemed to have been unconstitutional. This could affect the Coalition’s prospects of passing its industrial relations reforms in the Senate, as Day has generally sided with the Government. Meanwhile, Day has resigned from the Senate with immediate effect, after a deal to bail out his home building firm collapsed.

CORPORATES
FAMILY FIRST PARTY AUSTRALIA LIMITED, HIGH COURT OF AUSTRALIA, COURT OF DISPUTED RETURNS, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, NUCLEAR DISARMAMENT PARTY

Power bill shock as RET helps big firms

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Original article by Kylar Loussikian, Sid Maher
The Australian – Page: 1 & 4 : 1-Nov-16

Australian Industry Group CEO Innes Willox warns that a sharp rise in the spot price of large-scale generation certificates could result in a 1-2 per cent increase in electricity bills for households and businesses. He attributes the rise in the spot price to concern that growth in renewable energy supply will not be sufficient to meet the Federal Government’s Renewable Energy Target. This requires the proportion of electricity generated by renewables to rise from 12.75 per cent at present to 23.5 per cent by 2020. Some states have more aggressive renewable energy targets.

CORPORATES
THE AUSTRALIAN INDUSTRY GROUP, AGL ENERGY LIMITED – ASX AGL, ORIGIN ENERGY LIMITED – ASX ORG, ENERGYAUSTRALIA PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST, AUSTRALIAN LABOR PARTY, GREEN ENERGY MARKETS PTY LTD, GRATTAN INSTITUTE, AUSTRALIA. CLEAN ENERGY REGULATOR, CLEAN ENERGY COUNCIL LIMITED

Welfare pays more than work

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Original article by Sarah Martin
The Australian – Page: 1 & 4 : 28-Oct-16

Data from the Australian National University shows that the nation’s median overall wage was $A46,500 in 2014-15, or $A39,841 after tax. In contrast, Federal Government data shows that some 43,000 welfare recipients who are also paid family allowances received more than $A45,000 in tax-free government payments in 2014-15. Social Services Minister Christian Porter has stressed the need for policies aimed at ending welfare dependency and encouraging parents to enter the workforce.

CORPORATES
AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIAN NATIONAL UNIVERSITY, AUSTRALIAN LABOR PARTY, NATIONAL PRESS CLUB (AUSTRALIA)

Miners demand Fair Work overhaul

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Original article by Ewin Hannan
The Australian – Page: 6 : 26-Oct-16

Australian Mines & Metals Association CEO Steve Knott has called for Employment Minister Michaelia Cash to implement an independent review of the Fair Work Commission. Knott has accused the FWC of being "highly dysfunctional" and politicised, and says several senior members of the FWC have told him that they intend to retire early for these reasons. Knott has also urged the Federal Government to pursue industrial relations reforms such as changes to unfair dismissal laws and restricting unions’ right to access workplaces.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIA. PRODUCTIVITY COMMISSION, GROCON PTY LTD, VICTORIA. COUNTRY FIRE AUTHORITY

ScoMo takes tax fight to Xenophon

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Original article by Phillip Coorey, Simon Evans
The Australian Financial Review – Page: 1 & 4 : 26-Oct-16

The Australian Government will continue to push for the company tax rate for businesses with turnover of up to $A50m to be reduced to 27.5 per cent. The Government requires the support of the Nick Xenophon Team’s three senators, although the party wants the turnover threshold to be capped at $A10m. Treasurer Scott Morrison will attend a series of meetings and functions with representatives of medium-sized businesses in Senator Nick Xenophon’s home state of South Australia, as part of the Government’s push to gain support for its scaled-back corporate tax reform package.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, NICK XENOPHON TEAM, ONE NATION PARTY, COMMITTEE FOR ADELAIDE, SAGE AUTOMATION LIMITED, BHP BILLITON LIMITED – ASX BHP, GLENCORE AUSTRALIA PTY LTD, GM HOLDEN LIMITED, AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY, BUSINESS COUNCIL OF AUSTRALIA, HAIGH’S CHOCOLATES, KORVEST LIMITED – ASX KOV, CODAN LIMITED – ASX CDA, SOUTH AUSTRALIA. DEPT OF TREASURY AND FINANCE

Land tax plan to reboot market

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Original article by David Crowe, Mark Coultan
The Australian – Page: 1 & 4 : 26-Oct-16

New South Wales Finance Minister Dominic Perrottet has suggested that housing affordability could be improved if states replaced stamp duties with a land tax regime. He argues that phasing out stamp duty would encourage more people to sell their homes, particularly so-called empty nesters. It is estimated that stamp duty revenue in NSW will top $A8.7bn in 2016. However, the land tax proposal has been rejected by several other state treasurers. The issue of housing affordability is also on the Federal Government’s agenda.

CORPORATES
NEW SOUTH WALES. DEPT OF FINANCE, SERVICES AND INNOVATION, NEW SOUTH WALES. THE TREASURY, SOUTH AUSTRALIA. DEPT OF TREASURY AND FINANCE, QUEENSLAND. TREASURY, WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NEW SOUTH WALES. DEPT OF PLANNING AND ENVIRONMENT, DELOITTE ACCESS ECONOMICS PTY LTD, AUSTRALIAN NATIONAL UNIVERSITY, HOUSING INDUSTRY ASSOCIATION LIMITED, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, THE CENTRE FOR INDEPENDENT STUDIES LIMITED