AUSTRALIA – POLITICS AND GOVERNMENT

PM resets agenda with reshuffle

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Original article by David Crowe
The Australian – Page: 1 & 4 : 19-Jul-16

The new Australian Government will have 23 cabinet ministers, with increased representation for the National Party. The role of the minister for Northern Australia, Matt Canavan, has been expanded to include the resources portfolio, and he has moved from the outer ministry to cabinet. Meanwhile, former resources minister Josh Frydenberg will take on the environment and energy portfolio, Greg Hunt has been appointed Minister for Industry, ­Innovation and Science, and former assistant treasurer Kelly O’Dwyer has been promoted to the Minister for Revenue and Financial Services.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INFRASTRUCTURE AND REGIONAL DEVELOPMENT, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF THE ENVIRONMENT, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN ELECTORAL COMMISSION

Women’s work in cabinet drops as touted promotions evaporate

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Original article by Rosie Lewis
The Australian – Page: 5 : 19-Jul-16

The number of cabinet portfolios allocated to women has fallen in the Australian Government’s post-election reshuffle. The role of Marise Payne as Defence Minister will be reduced, with Christopher Pyne assuming responsibility for the construction of new naval vessels as the Minister for Defence Industries. Kelly O’Dwyer has been promoted to Minister for Revenue and Financial Services, although the small business portfolio has been reallocated.

CORPORATES
AUSTRALIA. DEPT OF DEFENCE, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF HEALTH, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

PM bends to revolt over super

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Original article by Laura Tingle
The Australian Financial Review – Page: 1 & 4 : 18-Jul-16

Prime Minister Malcolm Turnbull has indicated that he may be open to changes to the Coalition’s superannuation reforms. The proposed changes will be discussed at the Coalition’s party room meeting on 18 July, with some backbenchers seeking a compromise on policies such as the $A500,000 lifetime cap on non-concessional contributions. Senator Nick Xenophon says the government must reconsider the lifetime cap and limiting concessional contributions to $A25,000 a year, arguing that they will not be approved by either the Senate or the Coalition’s own party room.

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

Fate of bill to be played out by the numbers

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Original article by Rachel Baxendale
The Australian – Page: 4 : 15-Jul-16

The reintroduction of legislation to reinstate the Australian Building & Construction Commission will be one of the Federal Government’s priorities when parliament resumes. However, at best the Coalition is likely to have 79 seats in the lower house and 29 in the Senate, which means it would need the support of at least five crossbenchers if the ABCC bill is put before a joint sitting of parliament.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, NICK XENOPHON TEAM, ONE NATION PARTY

Concern rises over proposed super ceiling

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Original article by Sally Patten, Joanna Mather
The Australian Financial Review – Page: 4 : 15-Jul-16

The Australian Institute of Superannuation Trustees has warned that the Federal Government’s proposed lifetime cap on non-concessional superannuation contributions could be difficult and costly for the industry to implement. It has suggested that capping annual contributions at $A50,000 would be easier for super funds to administer. The AIST has also expressed concern about the impact that reducing the cap on pre-tax contributions would have on older super fund members.

CORPORATES
AUSTRALIAN INSTITUTE OF SUPERANNUATION TRUSTEES, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, FINANCIAL SERVICES COUNCIL, AUSTRALIANSUPER PTY LTD, THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, INDUSTRY SUPER AUSTRALIA PTY LTD, SAVE OUR SUPER

Ban on betting ads would be draconian: Seven West boss

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Original article by John Stensholt
The Australian Financial Review – Page: 5 : 15-Jul-16

It is estimated that bookmakers spent about $A150m on advertising during television broadcasts of sports events. Seven West Media CEO Tim Worner says a proposed ban is "draconian" and unnecessary, adding that Seven already has stricter internal rules on the issue than required by the advertising code. Sportsbet and CrownBet say they would agree to reduce their advertising during sports telecasts, but they oppose the blanket ban that is being advocated by crossbenchers Nick Xenophon and Andrew Wilkie.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SPORTSBET AUSTRALIA, CROWNBET PTY LTD, ALLIANCE FOR GAMBLING REFORM, AUSTRALIAN FOOTBALL LEAGUE

PM steeled for Senate showdown

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Original article by David Crowe
The Australian – Page: 1 & 4 : 14-Jul-16

The Federal Government will negotiate with crossbenchers on key election policies such as company tax cuts, but Prime Minister Malcolm Turnbull has conceded that some compromises will be necessary. However, the Greens have signalled that they will oppose some of the proposed tax reforms, while Nick Xenophon says ensuring the future of Arrium and manufacturing jobs should take precedence over company tax cuts. Meanwhile, some Coalition MPs are pushing for changes to the Government’s superannuation reforms.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN GREENS, NICK XENOPHON TEAM, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, INDUSTRY SUPER AUSTRALIA PTY LTD, CROSBY TEXTOR RESEARCH STRATEGIES RESULTS PTY LTD

Property group, Xenophon urge CGT reform

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Original article by Michael Bleby
The Australian Financial Review – Page: 5 : 13-Jul-16

The Australian Labor Party estimated that the capital gains tax break on property sales will cost $A8.6bn in lost government revenue by 2019, compared with $A4.2bn in 2014. Senator Nick Xenophon believes that the Federal Government should introduce CGT reforms as part of its strategy to reduce the Budget deficit. The Property Council of Australia supports reducing the CGT concession from 50 per cent at present to 40 per cent, compared with Labor’s proposal to reduce it to 25 per cent.

CORPORATES
AUSTRALIAN LABOR PARTY, NICK XENOPHON TEAM, PROPERTY COUNCIL OF AUSTRALIA LIMITED, GRATTAN INSTITUTE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, STANDARD AND POOR’S CORPORATION, HSBC AUSTRALIA HOLDINGS PTY LTD

Labor to hold post mortem into Queensland failures

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Original article by Mark Ludlow
The Australian Financial Review – Page: 5 : 13-Jul-16

At best, the Australian Labor Party is likely to win seven Queensland seats in the 2016 federal election, compared with its expectations of up to 12. The Coalition is expected to have 22 seats in Queensland, despite a 2.5 per cent swing against it. Labor’s disappointing performance in Queensland will be closely scrutinised as part of a broader review of its election campaign.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, ONE NATION PARTY

PM stares down backbench revolt on super reforms

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Original article by David Crowe
The Australian – Page: 1 & 5 : 13-Jul-16

Prime Minister Malcolm Turnbull is resisting a push within the Coalition’s ranks to revise some elements of its superannuation reforms. The issue will be on the agenda of the party-room meeting on 18 July, with the proposed lifetime cap on non-concessional super contributions in particular a focus for Coalition MPs who want changes to the super policy. Meanwhile, the Australian Labor Party has given indications that it may support the lifetime cap if is not applied retrospectively.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, LIBERAL-NATIONAL PARTY OF QUEENSLAND, STANDARD AND POOR’S CORPORATION, MOODY’S INVESTORS SERVICE INCORPORATED