AUSTRALIA – POLITICS AND GOVERNMENT

Labor, Greens could say ‘yes’

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Original article by Joanna Heath
The Australian Financial Review – Page: 7 : 26-Aug-14

An amended climate policy may gain the support of the Australian Labor Party and the Australian Greens. Independent senator Nick Xenophon is finalising amendments that would give access to international carbon permits. This would allow the passage of the Direct Action legislation without the support of crossbench MPs. However, divisions in the government would have to be resolved, as Prime Minister Tony Abbott is opposed to the inclusion of international permits

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, PALMER UNITED PARTY, CLIMATE INSTITUTE (AUSTRALIA) LIMITED

Cheaper green permits

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Original article by Joanna Heath, Laura Tingle
The Australian Financial Review – Page: 1 & 4 : 25-Aug-14

Independent senator Nick Xenophon has proposed to allow Australian companies to purchase international carbon permits. The initiative is said to have the support of Environment Minister Greg Hunt, although a spokeswoman for Hunt has indicated that international permits are not on the agenda at present. However, the business sector favours allowing local companies to buy carbon permits from overseas

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, PALMER UNITED PARTY, CLEAN ENERGY COUNCIL LIMITED, REPUTEX AUSTRALIA PACIFIC PTY LTD, DEMOCRATIC LABOR PARTY

Swan admits MRRT revenue failure

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 19-Aug-14

The former Australian Government revealed details of its proposed Resources Super Profit Tax on 2 May 2010. However, a book written by ex-treasurer Wayne Swan shows that the mining sector was only told about plans for the tax several days earlier. Swan also notes that generous deductions granted to mining companies for investing in their mining operations were a major contributor to the lower-than-expected revenue from the minerals resource rent tax

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, XSTRATA AG

Abbott’s plan to axe RET

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1/ & 4 : 18-Aug-14

The Australian Government is believed to planning to abolish the Renewable Energy Target (RET), and will get Dick Warburton to examine this option. Warburton’s review of the RET recommended that it be scaled back, but any such move would be opposed by the Palmer United Party, which does not want changes to the RET before the next federal election. Infigen Energy MD Miles George has expressed concern about the potential impact of any changes to the RET

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, PALMER UNITED PARTY, INFIGEN ENERGY LIMITED – ASX IFN, AUSTRALIA. DEPT OF THE ENVIRONMENT, AUSTRALIA. DEPT OF FINANCE, CLIMATE INSTITUTE (AUSTRALIA) LIMITED

Co-payment faces battle in Senate

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 13-Aug-14

The Palmer United Party continues to oppose the Australian Government’s $A7 Medicare co-payment. However, Health Minister Peter Dutton says the current bulk-billing rate of 83 per cent is unsustainable and needs to be addressed. He has also foreshadowed exempting more people from the co-payment. Meanwhile, Treasurer Joe Hockey has urged the Senate to support the proposed reintroduction of fuel indexation

CORPORATES
PALMER UNITED PARTY, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA, AUSTRALIA. DEPT OF HEALTH, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN MEDICAL ASSOCIATION LIMITED, AUSTRALIA. NATIONAL COMMISSION OF AUDIT, AUSTRALIAN LABOR PARTY

ALP increases its lead over L-NP (56%:44%)

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Original article by Roy Morgan Research
Morgan Poll Update – Page: Online : 11-Aug-14

A multi-mode Morgan Poll on Federal voting intention has found that support for the Coalition on a two-party preferred basis has fallen by 1.5 per cent to 44 per cent. The poll, which was carried out on the weekends of 2-3 and 9-10 August 2014, also shows that support for the Australian Labor Party has risen by 1.5 per cent to 56 per cent. Roy Morgan Research executive chairman Gary Morgan says that an analysis of voting trends by age group shows that support for Labor is rising among those in the 18-24 and 25-34 age demographics

CORPORATES
MORGAN POLL, ROY MORGAN RESEARCH LIMITED, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, PALMER UNITED PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, MALAYSIAN AIRLINE SYSTEMS, AUSTRALIAN BUREAU OF STATISTICS

Hockey hits business for ‘weak’ help

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Original article by Jacob Greber, Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 7-Aug-14

Bank of America Merrill Lynch’s Saul Eslake expects the 2017-18 Budget deficit to be $A18bn if the Senate continues to oppose key measures, while he expects Australia’s net debt to rise to 16.5 per cent of GDP. Meanwhile, Treasurer Joe Hockey has defended the May 2014 Budget, arguing that Australians’ future standard of living will be adversely affected unless action on budget reform is taken now

CORPORATES
BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, DEMOCRATIC LABOR PARTY, AUSTRALIAN MOTORING ENTHUSIAST PARTY, PALMER UNITED PARTY, AUSTRALIAN LABOR PARTY, THE AUSTRALIA AND NEW ZEALAND SCHOOL OF GOVERNMENT LIMITED, NEW ZEALAND. TREASURY, BUSINESS COUNCIL OF AUSTRALIA, RESERVE BANK OF AUSTRALIA, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE

Crackdown on net piracy

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Original article by Dominic White
The Australian Financial Review – Page: 36 : 4-Aug-14

The Australian Government plans to hold a forum with the CEOs of media groups and ISPs on the issue of illegal downloading of copyrighted material. It follows the release of a discussion paper by Attorney-General George Brandis and Communications Minister Malcolm Turnbull, which examines options for combating the problem of internet piracy. The forum is likely to be held later in August 2014

CORPORATES
AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIA. DEPT OF COMMUNICATIONS, HIGH COURT OF AUSTRALIA, IINET LIMITED – ASX IIN, AUSTRALIAN GREENS, AUSTRALIAN BROADCASTING CORPORATION, RADIO NATIONAL AUSTRALIA, FREE TV AUSTRALIA LIMITED

AMA demand could cost $2b

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Original article by Joanna Heath, Jacob Greber
The Australian Financial Review – Page: 1 & 4 : 4-Aug-14

The Australian Medical Association (AMA) has proposed a compromise regarding the Federal Government’s Medicare co-payment. The AMA wants pensioners to be excluded from the $A7 co-payment regime, while it continues to oppose the Government’s plan to reduce the Medicare rebate for GPs. The Government’s May 2014 Budget forecast that these measures would result in cost savings of about $A3.5bn, but this would be slashed by up to $A2bn if it agrees to the AMA’s proposals

CORPORATES
AUSTRALIAN MEDICAL ASSOCIATION LIMITED, AUSTRALIA. DEPT OF HEALTH, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, PALMER UNITED PARTY, AUSTRALIA. DEPT OF THE TREASURY, RESERVE BANK OF AUSTRALIA

Tax relaxed on share schemes

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Original article by Fleur Anderson
The Australian Financial Review – Page: 3 : 1-Aug-14

The Australian Government plans to wind back changes to the tax treatment of employee share schemes. The reforms that were introduced in 2009 require members of such schemes to pay their tax liability upfront rather than being able to defer it for up to 10 years. Start-up businesses in particular have been affected by the regime. The Government may replace it with some aspects of the employee share scheme regime that is in place in the UK

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF INDUSTRY, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, AUSTRALIA. DEPT OF COMMUNICATIONS, LIBERAL PARTY OF AUSTRALIA, DELOITTE TOUCHE TOHMATSU LIMITED, LOCAL MEASURE, ONLINE MEDIA HOLDINGS PTY LTD, EMPLOYEE OWNERSHIP AUSTRALIA LIMITED