AUSTRALIA – POLITICS AND GOVERNMENT

Coalition eyes cross-party deal on taxing low-cost imports

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Original article by David Uren
The Australian – Page: 3 : 5-Jan-15

The Australian Government’s tax white paper will push the case for the goods and services tax threshold for imported goods to be lowered. Assistant Treasurer Josh Frydenberg notes that in recent years there has been a sharp increase in the volume of goods bought online from overseas that are priced below the tax threshold of $A1,000. Tax reform will need the support of the states, but Western Australia in particular is proving to be recalcitrant on the issue

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, WESTERN AUSTRALIA. DEPT OF TREASURY AND FINANCE, GROUP OF TWENTY (G-20), AUSTRALIA. COMMONWEALTH GRANTS COMMISSION, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Business plea to fix budget mess

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 16-Dec-14

The Australian Government’s mid-year economic and fiscal outlook forecasts an increase in the Budget deficit and the unemployment rate. The deficit is expected to rise to $A40.4bn in 2014-15, compared with the May 2014 Budget forecast of $A29.8bn. The jobless rate is now expected to top 6.5 per cent in 2015. The Business Council of Australia and the Australian Industry Group say bipartisan support in Parliament is needed to ensure that necessary reforms are implemented

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BUSINESS COUNCIL OF AUSTRALIA, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Softer China blows out the budget deficit

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 15-Dec-14

The Australian Government’s mid-year Budget update will scale back its forecast for 2014-15 revenue to $A379bn, compared with expectation of $A386bn in the May 2014 Budget. Treasurer Joe Hockey has attributed the revenue shortfall primarily to the decline in commodity prices. The update also forecasts that Australia’s terms of trade will fall by 13.5 per cent, compared with a previous forecast of a 6.75 per cent decline. The Government has also downgraded its forecast for China’s economic growth

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AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIAN LABOR PARTY

Anger at withdrawal from UN tourism body

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Original article by Lisa Allen
The Australian – Page: 21 : 12-Dec-14

Australian tourism executives have criticised the Federal Government for cancelling its membership of the United Nations’ World Tourism Organisation. Some 156 countries are members of the international agency, but the Government has decided that the cost of membership is not justified. Tourism & Transport Forum CEO Margy Osmond notes the tourism industry’s significant contribution to the Australian economy

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UNITED NATIONS. WORLD TOURISM ORGANISATION, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIAN TOURISM EXPORT COUNCIL LIMITED, TTF AUSTRALIA LIMITED, TTF AUSTRALIA LIMITED TOURISM AND TRANSPORT FORUM

Reforms to cut through red tape

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Original article by Andrew White
The Australian – Page: 20 : 11-Dec-14

National Australia Bank’s Angela Mentis has suggested to the Federal Government that it could reduce red tape for small businesses by scrapping business activity statements. This is one of the recommendations that Mentis has made to the Minister for Small Business, Bruce Bilson. She argues that technology solutions could be used to assist small business owners to compile data for the monthly statements

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NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA. DEPT OF INDUSTRY, AUSTRALIA. PRODUCTIVITY COMMISSION, COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY

The price of stamps set to top $1.50

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Original article by Matthew Knott
The Age – Page: 2 : 11-Dec-14

The letters division of Australia Post booked a loss of $A328m in 2013-14, and CEO Ahmed Fahour says the losses will escalate unless action is taken. Australia Post wants the Federal Government to approve a new pricing regime for postage stamps. Priority mail deliveries would cost between $A1.25 and $A2 per letter, while the standard mail service would cost between $A0.70 and $A1

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AUSTRALIA POST, AUSTRALIA. DEPT OF COMMUNICATIONS

Co-payment will hit bulk-billing, AMA head Owler predicts

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Original article by Dan Harrison
The Sydney Morning Herald – Page: 4 : 11-Dec-14

Bulk-billing accounted for some 82 per cent of visits to Australian GPs in the 2013-14 financial year. Brian Owler, the president of the Australian Medical Association, has warned that the Federal Government’s revised co-payment scheme will forced many GPs to abandon bulk-billing in favour of private billing for most patients

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AUSTRALIAN MEDICAL ASSOCIATION LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF HEALTH, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA, ROYAL CHILDREN’S HOSPITAL (VICTORIA)

PM’s stocks hit Gillard lows

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 8-Dec-14

A Fairfax/Ipsos poll has found that 47 per cent of Australians now regard Opposition Leader Bill Shorten as their preferred prime minister, an increase of eight per cent since November 2014. The approval rating of Prime Minister Tony Abbott has fallen by four per cent to 38 per cent, while 50 per cent of electors regard Abbott as competent and just 36 per cent perceive him to be trustworthy. Meanwhile, support for the Australian Labor Party is 52 per cent on a two-party preferred basis

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FAIRFAX MEDIA LIMITED – ASX FXJ, IPSOS AUSTRALIA PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, GROUP OF TWENTY (G-20), AUSTRALIAN GREENS, LIBERAL PARTY OF SOUTH AUSTRALIA, ASC PTY LTD, AUSTRALIA. DEPT OF DEFENCE, THE NIELSEN COMPANY (AUSTRALIA) PTY LTD, AUSTRALIA. DEPT OF EDUCATION, AUSTRALIA. DEPT OF THE TREASURY

Hockey warns living standards could fall

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 6 : 4-Dec-14

Australia’s economic growth slowed to just 0.3 per cent in the September 2014 quarter, and by 2.7 per cent year-on-year. Economic growth contracted in all states except New South Wales. The national accounts also show that Australia has entered an "income recession", with real net disposable income contracting in the last two quarters. Treasurer Joe Hockey has urged opposition parties to support government policy in the Senate, warning that a decline in living standards is likely if reforms are not implemented

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AUSTRALIA. DEPT OF THE TREASURY, RESERVE BANK OF AUSTRALIA, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, AUSTRALIAN LABOR PARTY, PALMER UNITED PARTY, BUSINESS COUNCIL OF AUSTRALIA

University package goes down

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 5 : 3-Dec-14

Australian Education Minister Christopher Pyne has been unsuccessful in his effort to sway sufficient numbers of senators to secure passage through the upper house of his higher education reforms. Compromise offers failed to avoid the defeat of the relevant bills by 33 votes to 31 on 2 December 2014. Of the minor party and independent senators, only Ricky Muir, John Madigan, David Leyonhjelm and Bob Day were in favour, while those against were Nick Xenophon, Jacqui Lambie, Glenn Lazarus and Dio Wang. The Federal Government will now suffer a setback worth $A5bn to its goal of returning the Budget to surplus. The Universities Australia lobbying body also seems to have withdrawn its backing

CORPORATES
AUSTRALIA. DEPT OF EDUCATION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, PALMER UNITED PARTY, AUSTRALIAN MOTORING ENTHUSIAST PARTY, DEMOCRATIC LABOR PARTY, LIBERAL DEMOCRATIC PARTY, NICK XENOPHON GROUP, UNIVERSITIES AUSTRALIA LIMITED, FAMILY FIRST PARTY AUSTRALIA LIMITED, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, UNIVERSITY OF TASMANIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION