AUSTRALIA – POLITICS AND GOVERNMENT

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

Gary Morgan’s comment on the surge in Roy Morgan Business Confidence in June

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Original article by Gary Morgan, Roy Morgan Research
Market Research Update – Page: Online : 12-Jul-16

Business Confidence was up 7.6 points in June 2016, to 119.5. However, in July it may "take a hit" given the increased size of the crossbench in the Senate. All businesses will have their eyes on the Coalition’s promised corporate tax cuts – reducing the corporate tax rate for large businesses to 25 per cent (from the current 30 per cent) over the next decade. The Coalition’s election victory means this policy is still on the agenda and the prospect of tax cuts over the next few years should continue to support Business Confidence. Investment certainty is crucial for larger businesses undertaking major projects with substantial investment expenditure.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Business Confidence surges in June – up 6.8% to 119.5 prior to Federal Election

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 12-Jul-16

Roy Morgan Research’s Business Confidence jumped 6.8 per cent to 119.5 in June 2016. The rise in Business Confidence comes despite a downward trend on the Australian sharemarket in June – the All Ordinaries closed at the end of June at 5,310.40 (down 2.5 per cent -or 137.4 points – from May 31). However, the large rise in Business Confidence in June was likely more tied to the perception in the closing weeks of the Federal Election campaign that the Coalition would retain Government with a narrow victory – which turned out to be correct – despite a week of uncertainty following the Election. The increased level of Roy Morgan Business Confidence in June is now back above the five-year average (116.7).

CORPORATES
ROY MORGAN RESEARCH LIMITED

Minor parties warn of risks of e-voting

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Original article by Primrose Riordan, Yolanda Redrup
The Australian Financial Review – Page: 3 : 12-Jul-16

The high cost of the 2016 federal election – estimated at almost $A200m – and the lengthy delay in counting votes has prompted renewed debate about electronic voting. Prime Minister Malcolm Turnbull and Opposition Leader Bill Shorten support e-voting, but the Nick Xenophon Team and the Australian Greens are concerned about security issues. The latter notes that the potential for hacking of personal devices emerged during the 2015 election in New South Wales.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, NICK XENOPHON TEAM, AUSTRALIAN GREENS, AUSTRALIAN INFORMATION INDUSTRY ASSOCIATION LIMITED, AUSTRALIA. JOINT STANDING COMMITTEE ON ELECTORAL MATTERS, UNIVERSITY OF MELBOURNE