AUSTRALIA – POLITICS AND GOVERNMENT

Resources surge offers PM hope of budget boost

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Original article by David Uren
The Australian – Page: 1 & 2 : 9-Mar-16

The Australian Government’s Budget bottom line is expected to be boosted by the rebound in commodity prices. Iron ore and crude oil prices have rallied in recent weeks, which may help to offset the $A7bn in forgone government revenue due to the sharp downturn in commodity prices in 2015. The iron ore price has risen above $US60 per tonne in early March, compared with the Government’s revised forecast of just $US39/tonne in its mid-year Budget update in December.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, WESTPAC BANKING CORPORATION – ASX WBC, INTERNATIONAL MONETARY FUND, STANDARD AND POOR’S ASX 200 INDEX, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Early budget talk, election options narrow

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 8-Mar-16

The Australian Government is considering moving the Budget forward one week to 3 May 2016. Should it opt to call a double-dissolution election, it must do so no later than 11 May in order to hold such an election on its preferred date of 2 July. A half-Senate election in August is also being considered. The bill to reinstate the Australian Building & Construction Commission remains a potential trigger for a double-dissolution election.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, LIBERAL PARTY OF NEW SOUTH WALES

Federal Voting Intention virtually unchanged: L-NP 53% maintain clear 2PP lead over ALP 47% as Parliament debates Senate reform

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 7-Mar-16

A multi-mode Morgan Poll on Federal voting intention has found that support for Australia’s ruling Liberal-National Coalition on a two-party preferred basis has risen by 0.5 per cent to 53 per cent. The poll, which was carried out on the weekends of 27-28 February and 5-6 March 2016, also shows that the Coalition’s primary vote has fallen by 0.5 per cent to 43 per cent, while the Roy Morgan Government Confidence Rating has fallen by three points to 102. Roy Morgan Research executive chairman Gary Morgan says this week’s strong result for the L-NP comes after a good week for the Australian economy. GDP for the December 2015 quarter came in above expectations at 0.6 per cent, for an annual GDP growth rate of three per cent. In addition, last week the All Ordinaries Index increased by 4.2 per cent to close at 5,151.10 on Friday and the Australian dollar increased to over $US0.74- its highest since July 2015.

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, KATTER’S AUSTRALIAN PARTY, PALMER UNITED PARTY, NICK XENOPHON TEAM

Ciobo chases HK, Taiwan FTAs

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Original article by Rowan Callick
The Australian – Page: 2 : 7-Mar-16

Trade and Investment Minister Steve Ciobo says the Australian Government is keen to secure more free trade agreements with Asian countries. They include Taiwan and Hong Kong, which are Australia’s eighth and 15th-largest export markets respectively. Ciobo also says predecessor Andrew Robb will continue to hold talks with India regarding an FTA, after negotiations stalled in 2015. Robb concluded FTA deals with China, Japan and South Korea during his tenure as trade minister.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, HONG KONG ECONOMIC AND TRADE OFFICE

Crossbench not sold on case for reform

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 7-Mar-16

The Senate Standing Committee on Environment & Communications will review the Federal Government’s bill to abolish the "reach rule" and the "two-out-of-three rule". Passage of the bill may require the support of a majority of the eight crossbench Senators, although six have yet to decide their position on the proposed reforms. Independent senator Nick Xenophon argues that TV broadcasting licence fees should also be reduced, and local content requirements should be introduced for regional broadcasters.

CORPORATES
AUSTRALIA. SENATE STANDING COMMITTEE ON ENVIRONMENT, COMMUNICATIONS, INFORMATION TECHNOLOGY AND THE ARTS, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY

Labor’s crackdown on negative gearing ‘a threat to small business’

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Original article by David Uren
The Australian – Page: 1 & 6 : 7-Mar-16

CPA Australia’s senior tax counsel Paul Drum has warned that the Federal Opposition’s proposed changes to the negative gearing regime could adversely affect small business owners, particularly sole proprietors. The Australian Labor Party proposes to restrict negative gearing to new properties if it wins the 2016 federal election, but shadow treasurer Chris Bowen rejects suggestions that the reforms would affect business financing.

CORPORATES
CPA AUSTRALIA, AUSTRALIAN LABOR PARTY, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, RESERVE BANK OF AUSTRALIA, NSW BUSINESS CHAMBER LIMITED, CRYSTAL WEALTH PARTNERS LIMITED, OMNIWEALTH PTY LTD

Abbott attacks fuel fears of election loss

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Original article by Phillip Coorey
The Australian Financial Review – Page: 7 : 4-Mar-16

Former prime minister Tony Abbott is increasingly perceived among his colleagues as a burden. Coalition MPs are concerned about his potential to alienate voters. Abbott’s contribution to the public discourse on issues such as tax cuts and the submarine contract has been judged to be damaging the chances of the Coalition for re-election.

CORPORATES
NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Wrong way to do tax: key adviser

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Original article by Joanna Mather, Phillip Coorey
The Australian Financial Review – Page: 1 & 8 : 4-Mar-16

More resources should be allocated to the bodies engaged in the tax reform process, says Board of Taxation chairman Michael Andrews. He told a tax conference in Melbourne on 3 March 2016 that the debate about tax is highly politicised, which is regrettable. The timing of the debate is not auspicious because people are distracted by political considerations during an election year.

CORPORATES
AUSTRALIA. BOARD OF TAXATION, BIS SHRAPNEL PTY LTD, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, KPMG AUSTRALIA PTY LTD

PM urges business to seize China opportunity

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Original article by Jacob Greber
The Australian Financial Review – Page: 5 : 3-Mar-16

Prime Minister Malcolm Turnbull says Australian companies should seek to capitalise on the opportunities created by China’s transition to a consumer-focused economy. Turnbull has identified industries such as tourism and service as ones that can benefit from Australia’s growing trade relations with China, particularly as China’s demand for industrial commodities declines.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA CHINA BUSINESS COUNCIL, RESERVE BANK OF AUSTRALIA

Murdoch and Stokes rebuffed on media reform

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Original article by Dominic White, Max Mason
The Australian Financial Review – Page: 5 : 2-Mar-16

The Australian Government has confirmed that its cross-media ownership reforms will abolish the "reach rule" and the "two-of-three rule". However, Seven West Media has criticised the Government for not reducing TV broadcasting licence fees, while Foxtel CEO Richard Freudenstein argues that changes to the anti-siphoning list for sporting events should have been part of the reform package. Communications Minister Mitch Fifield has indicated that the latter may be subject to change in the future.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, SEVEN WEST MEDIA LIMITED – ASX SWM, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ