AUSTRALIA – POLITICS AND GOVERNMENT

‘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

Tax policy and poll to come early

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 29-Feb-16

The federal Cabinet’s expenditure review committee is likely to discuss the Australian Government’s tax reform policy in the first week of March 2016, with the aim of releasing details of the tax package in early April. Prime Minister Malcolm Turnbull says tax reforms cannot be rushed, and details of the proposed changes will be announced ahead of the Budget in May. There is growing speculation that the Government will opt for a double-dissolution election in July.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. EXPENDITURE REVIEW COMMITTEE, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

Media reform an all-or-nothing proposition, as Fifield resists carve-out

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Original article by David Crowe
The Australian – Page: 2 : 25-Feb-16

Federal Communications Minister Mitch Fifield has ruled out separate media reform bills to abolish the "reach rule" and the "two-out-of-three rule". He insists that both reforms must be presented to Parliament in a single bill. The Australian Labor Party supports scrapping the reach rule, while regional TV broadcasters want it to be abolished quickly so they can consider mergers with metropolitan networks. However, Labor wants a Senate inquiry into scrapping the two-out-of-three rule.

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

Cabinet digs in as PM backflips on CGT

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 24-Feb-16

Prime Minister Malcolm Turnbull has told Parliament that changes to the 33 per cent capital gains tax discount on the sale of superannuation funds’ assets may be part of the Federal Government’s tax reform agenda. He had previously given indications that CGT reforms had been ruled out, but claims that he was specifically referring to the Opposition’s CGT proposals. Meanwhile, cabinet ministers have agreed to wait until the May 2016 Budget to announce the Coalition’s tax policies.

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

New media reform brawl brews

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Original article by Darren Davidson, Jake Mitchell
The Australian – Page: 2 : 24-Feb-16

Regional TV broadcasters have welcomed the Federal Government’s proposed changes to cross-media ownership laws, particular new local content requirements. Both the "reach rule" and the "two-out-of-three rule" will be abolished if the reforms proceed. However, News Corp Australia’s executive chairman Michael Miller says the reforms should be more extensive, and should include the anti-siphoning list for sports broadcasts. Seven Group CEO Ryan Stokes agrees that the reforms are too limited.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN NETWORK LIMITED, NINE NETWORK AUSTRALIA LIMITED, TEN NETWORK HOLDINGS LIMITED – ASX TEN, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD, PRIME MEDIA GROUP LIMITED – ASX PRT, FOXTEL MANAGEMENT PTY LTD, NATIONAL PARTY OF AUSTRALIA, LIBERAL PARTY OF AUSTRALIA, APN NEWS AND MEDIA LIMITED – ASX APN, KIIS1065, PURE GOLD

Not your mother’s Newspoll: robo-poll not quite what it seems

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Original article by Edmund Tadros
The Australian Financial Review – Page: 4 : 23-Feb-16

The latest Morgan Poll, which uses both face-to-face and SMS interviews, has found that support for the Coalition on a two-party preferred basis is steady at 52.5 per cent. In contrast, the latest Newspoll suggests that support for the Coalition and the Australian Labor Party is tied at 50 per cent apiece. However, the Newspoll is now conducted by Galaxy Research, which uses a combination of automated "robo-polling" and online surveys rather than telephone surveys.

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, NEWSPOLL, GALAXY RESEARCH PTY LTD, IPSOS AUSTRALIA PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, MACQUARIE UNIVERSITY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY

Federal Voting Intention unchanged: L-NP 52.5% maintain clear 2PP lead over ALP 47.5%

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 22-Feb-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 is steady at 52.5 per cent. The poll, which was carried out on the weekends of 13-14 and 20-21 February 2016, also shows that the Coalition’s primary vote is unchanged at 43.5 per cent, while the Roy Morgan Government Confidence Rating has fallen by 7.5 points to 105. Roy Morgan Research executive chairman Gary Morgan says Prime Minister Malcolm Turnbull and Treasurer Scott Morrison need to outline the policies and reforms they will stake this Government on now rather than waiting until Morrison delivers his first Federal Budget in May or when Turnbull decides to call an election.

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, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Turnbull: no change to capital gains tax

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Original article by Sid Maher
The Australian – Page: 1 & 4 : 23-Feb-16

The Australian Government’s options for tax reform have become more limited after Prime Minister Malcolm Turnbull told Parliament that changes to the capital gains tax regime are not on its agenda. Turnbull warned that the Opposition’s proposed capital gains tax reforms will deter investment in Australia, while its policy on negative gearing would adversely affect house prices. Changes to superannuation tax concessions and tax deductions for work-related expenses are among the few tax reform options that are still available to the Government.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FINANCE, BUSINESS COUNCIL OF AUSTRALIA, BLUESCOPE STEEL LIMITED – ASX BSL, PROPERTY COUNCIL OF AUSTRALIA LIMITED, AUSTRALIAN NATIONAL UNIVERSITY, AUSTRALIA. DEPT OF THE TREASURY, NEWSPOLL