AUSTRALIA – POLITICS AND GOVERNMENT

Breakthrough on Indonesia trade deal talks

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Original article by Greg Earl
The Australian Financial Review – Page: 6 : 18-Nov-15

Australia’s Trade Minister Andrew Robb has indicated that negotiations over a bilateral trade agreement with Indonesia will resume in early 2016. Robb aims to finalise a trade deal with Indonesia within 12 months, which is the time-frame used in negotiating free trade agreements with other nations. Australia and Indonesia formally commenced negotiations for a Closer Economic Partnership Agreement in September 2012, but the process stalled in 2013.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, INDONESIA. DEPT OF INDUSTRY AND TRADE, ASIA-PACIFIC ECONOMIC CO-OPERATION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, TRANS-PACIFIC PARTNERSHIP

Federal Voting Intention virtually unchanged. L-NP (56%) cf. ALP (44%); Confidence in Turnbull Government jumps – highest since March 2011

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 16-Nov-15

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 fallen by 0.5 per cent to 56 per cent. The poll, which was carried out on the weekends of 7-8 and 14-15 November 2015, also shows that the Coalition’s primary vote has fallen by one per cent to 46 per cent, while the Roy Morgan Government Confidence Rating has risen by 7.5 points to 119.5 points. Roy Morgan Research executive chairman Gary Morgan says the strong lift in confidence around Australia gives the Turnbull Government the mandate to make the tough decisions about whether or not Australia should commit troops to any international coalition aimed at defeating the Islamic State (ISIS) and affiliated terrorist groups in Iraq and Syria over the next few months, as Western nations in particular seek to make the most effective and productive response to the horrific Paris terrorist attacks.

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, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Budget blowout of $5b if growth 3pc

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Original article by Jacob Greber
The Australian Financial Review – Page: 3 : 17-Nov-15

The Australian economy’s trend growth rate has traditionally been regarded as 3.25 per cent. Reserve Bank Governor Glenn Stevens and Treasury secretary John Fraser have both recently warned that the nation’s "potential" growth rate could slow in coming years. Economic modelling by PwC has concluded that a trend rate of three per cent would result in Budget revenue being around $A5bn lower than expected each year.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY

Media reform beyond ‘reach’

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Original article by Darren Davidson, Jake Mitchell
The Australian – Page: 2 : 17-Nov-15

The focus of the Australian Government’s upcoming media reforms were tipped to be the so-called "reach rule". However, it is believed to be planning to also abolish the "two-out-of-three rule" in a reform package that is expected to be unveiled in late November 2015. Australian media groups are concerned that failure to fully abolish cross-media laws would provide rivals such as video-on-demand providers with a competitive advantage. The Government’s media reforms are likely to be dependent on the support of cross-bench senators.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SOUTHERN CROSS AUSTEREO PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, NETFLIX INCORPORATED, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, TEN NETWORK HOLDINGS LIMITED – ASX TEN

Glenn McGrath bowls into carbon farming

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Original article by Mark Ludlow
The Australian Financial Review – Page: 8 : 13-Nov-15

The Clean Energy Regulator has granted $A557 million to 131 carbon reduction projects via the second auction from the Emissions Reduction Fund. Former cricketer Glenn McGrath is among the recipients of funding. He has agreed to grow trees on his rural property in north-west New South Wales to offset carbon emissions. Wesfarmers, Consolidated Pastoral Company, AGL Energy and Pacific National are among bigger recipients of funding for carbon reduction programs.

CORPORATES
AUSTRALIA. CLEAN ENERGY REGULATOR, WESFARMERS LIMITED – ASX WES, CONSOLIDATED PASTORAL COMPANY PTY LTD, AGL ENERGY LIMITED – ASX AGL, PACIFIC NATIONAL PTY LTD, CLIMATE FRIENDLY PTY LTD, REPUTEX AUSTRALIA PACIFIC PTY LTD

GST rise in trouble as rebellion in Senate grows

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Original article by Primrose Riordan
The Australian Financial Review – Page: 4 : 12-Nov-15

The majority of cross-bench senators will need to back any push by the Australian Government to increase the GST for it to succeed. However, a number of cross-bench senators have stated their opposition to lifting the GST to 15 per cent, as have several independent MPs in the lower house. The Opposition and the Australian Greens will also vote against any changes to the GST.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, FAMILY FIRST PARTY AUSTRALIA LIMITED, LIBERAL DEMOCRATIC PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY

Atlassian IPO to recharge tech scene

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Original article by Paul Smith, John Kehoe
The Australian Financial Review – Page: 17 & 32 : 11-Nov-15

The prospectus for Atlassian Software’s IPO in the US shows that the group boasted net income of $US6.8m and revenue of $US319.5m in 2014-15. The Australian technology company has been profitable for the last 10 years, in contrast to many peers that are valued at more than $US1bn. The Industry, Innovation and Science Minister, Christopher Pyne, has welcomed confirmation of the IPO, and says the Federal Government’s innovation agenda statement could result in the creation of more companies like Atlassian.

CORPORATES
ATLASSIAN SOFTWARE SYSTEMS PTY LTD, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, XERO LIMITED – ASX XRO, UNLOCKD, CAMPAIGN MONITOR PTY LTD, BIGCOMMERCE PTY LTD

Gary Morgan – Tax reform and broadening the GST base will help tackle Australia’s "cash economy"

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 9-Nov-15

The solid increase in the ANZ-Roy Morgan Consumer Confidence rating (now 116.6, up from 105.3 pre-Turnbull) and Roy Morgan Business Confidence (119.3 in October 2015, up from 102.6 in August) since Malcolm Turnbull became Prime Minister in mid-September gives him the political capital to make the tough decisions now to ensure Australia’s future prosperity. The recent discussion about the taxation system – including increasing the GST from 10 per cent to 15 per cent, and possibly broadening the GST base, is needed because too many people and companies do not pay their fair share of tax. Broadening the GST base in combination with tax reform will help tackle Australia’s booming "cash economy" and allow the Federal Government to implement extensive industrial relations reform. Australians who want to prosper will not complain, as more jobs will be available for everyone.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Rich could pay 27pc super tax

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Original article by Phillip Coorey, Jennifer Hewett
The Australian Financial Review – Page: 1 & 2 : 11-Nov-15

Most Australians’ contributions to their superannuation funds are taxed at 15 per cent at present. The tax reform options being examined by the Federal Government include a proposal to tax super contributions at 20 percentage points below a taxpayer’s marginal income tax rate. Treasurer Scott Morrison has indicated that the Government’s focus is on taxing super at the accumulation phase. In contrast, the Opposition’s policy is centred on taxing super upon retirement.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, DELOITTE ACCESS ECONOMICS PTY LTD

Turnbull moves to dump reach rule

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Original article by Darren Davidson, Michael Bodey
The Australian – Page: 23 : 9-Nov-15

The issue of changes to cross-media ownership laws is expected to be the agenda for federal cabinet ministers in coming weeks, with the "reach rule" likely to be scrapped. Communications Minister Mitch Fifield also favours abolishing the "two-out-of-three" rule, although this may be opposed by the Australian Labor Party. The government is also believed to have agreed to abolish TV broadcasters’ licence fees, as the emergence of subscription video-on-demand services has reduced the value of these licences.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NETFLIX INCORPORATED, STAN ENTERTAINMENT PTY LTD, FOXTEL MANAGEMENT PTY LTD, GOOGLE INCORPORATED, YOUTUBE INCORPORATED, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN LABOR PARTY, FACEBOOK INCORPORATED