AUSTRALIA – POLITICS AND GOVERNMENT

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

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

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

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

‘Spending cuts must fund tax relief’

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Original article by David Crowe
The Australian – Page: 2 : 1-Mar-16

Federal Treasurer Scott Morrison has told a meeting of Coalition MPs of the need to reduce income taxes over the long-term, stressing that this must be achieved via spending cuts in the Budget. Meanwhile, backbenchers expressed concern about proposed changes to the negative gearing regime for property investors, with one MP warning that any such reforms will be rejected by the party room. Morrison also said Prime Minister Malcolm Turnbull is fully prepared to seek a double-dissolution election.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIAN LABOR PARTY

MPs fall in line on media reforms

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Original article by David Crowe
The Australian – Page: 4 : 1-Mar-16

The Australian Government’s bill to change cross-media ownership laws is expected to be submitted to Parliament on 1 March 2016, if the reforms are endorsed by the Coalition’s party room. The reforms have already been approved by the Coalition’s backbench communications committee. The Opposition supports abolition of the "reach rule", although it may seek to block scrapping the "two-out-three rule" in the Senate. The reforms are likely to prompt consolidation among Australian TV broadcasters.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, LIBERAL DEMOCRATIC PARTY, PALMER UNITED PARTY, FAMILY FIRST PARTY AUSTRALIA LIMITED, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Fifield allays fears over media diversity

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Original article by Dominic White
The Australian Financial Review – Page: 30 : 29-Feb-16

The Coalition’s party room will be asked to endorse proposed changes to cross-media ownership laws on 1 March 2016, after the reforms were approved by Cabinet. Meanwhile, Communications Minister Mitch Fifield has downplayed the Opposition’s concerns that the reforms could increase News Corp Australia’s market power in the local media sector. He has also ruled out merging the ABC and SBS, and says TV broadcasting licence fees are being reviewed as part of the Budget process.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), WIN CORPORATION PTY LTD, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FOXTEL MANAGEMENT PTY LTD, LIBERAL PARTY OF AUSTRALIA