BUSINESS AND POLITICS – AUSTRALIA

Company tax cuts: in the future

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Original article by Phillip Coorey, Patrick Durkin, Jamie Freed
The Australian Financial Review – Page: 1 & 4 : 2-May-16

The Australian Government’s May 2016 Budget is expected to provide tax relief for small and medium enterprises. However, the Government is likely to opt to phase in a reduction in the corporate tax rate over a period of time. The Business Council of Australia continues to push for the tax rate for all businesses to be initially reduced to 28.5 per cent, and eventually to just 25 per cent. Meanwhile, some business leaders argue that a priority for the Budget should be ensuring that government spending is sustainable.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, WESFARMERS LIMITED – ASX WES, QANTAS AIRWAYS LIMITED – ASX QAN, FORTESCUE METALS GROUP LIMITED – ASX FMG, SEEK LIMITED – ASX SEK, AUSTRALIA POST, AUSTRALIA. DEPT OF THE TREASURY, KPMG AUSTRALIA PTY LTD, NESTLE AUSTRALIA LIMITED, AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, AUSTRALIAN LABOR PARTY, SQUARE PEG CAPITAL PTY LTD

Slashed TV fee delivers windfall

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Original article by Jake Mitchell
The Australian – Page: 4 : 29-Apr-16

The office of Communications Minister Mitch Fifield has declined to comment on speculation that the Australian Government’s May 2016 Budget will include a reduction in TV broadcasters’ licence fees. Free-to-air networks have lobbied the Government in the lead-up to the Budget, and some media reports have suggested that it will agree to their request. Pay-TV group Foxtel has argued that any reduction in licence fees should be accompanied by changes to the anti-siphoning list for sports events.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, FAIRFAX MEDIA LIMITED – ASX FXJ, WIN CORPORATION PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, PRIME MEDIA GROUP LIMITED – ASX PRT, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, GOOGLE INCORPORATED, NETFLIX INCORPORATED

Media reform could be delayed until after budget, federal vote

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Original article by Max Mason
The Australian Financial Review – Page: 5 : 20-Apr-16

Federal Parliament is unlikely to sit again until 2 May 2016, ahead of the Australian Government’s Budget on 3 May. The Government is now expected to postpone proposed changes to cross-media ownership laws until after the double-dissolution election on 2 July, in order to focus on the Budget. Abolition of the "reach rule" and the "two-out-of-three rule" is still on the Government’s agenda, while the Ten Network has again called for broadcasting licence fees to be reduced in the Budget.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, TEN NETWORK HOLDINGS LIMITED – ASX TEN, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD

Bank royal commission a drain on economy: Hirst

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Original article by James Eyers
The Australian Financial Review – Page: 23 : 15-Apr-16

Bendigo & Adelaide Bank CEO Mike Hirst says there is no need for a royal commission into the banking industry. He told a strategy briefing in Sydney that a royal commission would be a waste of money as there is no evidence of systemic failure. He also said a royal commission would also have a negative impact on the economy. Hirst favours self-regulation, and he argues that the poor conduct of certain banking employees can be rectified by the banks themselves.

CORPORATES
BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, RESERVE BANK OF AUSTRALIA

Toll joins chorus to kill off truckies tribunal

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Original article by Ewin Hannan
The Australian Financial Review – Page: 3 : 14-Apr-16

Australian logistics group Toll Holdings supports the Federal Government’s push to abolish the Road Safety Remuneration Tribunal. A spokesman says the company has had concerns about the RSRT since it was first proposed in 2010 and notes that Toll deals with many owner-drivers, who will be affected by the "safe rates" regime. Meanwhile, crossbench senator John Madigan has indicated that he may vote in favour of legislation to scrap the RSRT.

CORPORATES
TOLL HOLDINGS LIMITED, AUSTRALIA. ROAD SAFETY REMUNERATION TRIBUNAL, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. NATIONAL HEAVY VEHICLE REGULATOR, LINFOX PROPERTIES, TRANSPORT WORKERS’ UNION, NATROAD LIMITED

Anxious TV executives seek meeting with PM

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Original article by Dominic White
The Australian Financial Review – Page: 29 : 11-Apr-16

The free-to-air TV industry is concerned that the Australian Government will not include a reduction in broadcasting licence fees in the May 2016 Budget. Free TV Australia is said to have lobbied Prime Minister Malcolm Turnbull for a meeting with industry executives to discuss the issue. Some observers have speculated that the Government may opt to progressively reduce the licence fee over several years.

CORPORATES
FREE TV AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NETFLIX INCORPORATED

Free TV networks ready to campaign on licence fees

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Original article by Jake Mitchell
The Australian – Page: 21 : 7-Apr-16

The metropolitan free-to-air TV networks may ramp their lobbying for a reduction in the annual broadcasting licence fee in the Australian Government’s May 2016 Budget. They are believed to have held discussions about launching an advertising campaign, which is likely to be similar to the Save Our Voices campaign that was launched by regional broadcasters.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, GOOGLE INCORPORATED, NETFLIX INCORPORATED, FACEBOOK INCORPORATED, PIN PAYMENTS, WIN CORPORATION PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Business urges extreme COAG makeover

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 2 : 4-Apr-16

Australian Institute of Company Directors CEO John Brogden has called for greater co-operation between the federal and state governments. He has suggested major changes to the Council of Australian Governments, after a proposal by Prime Minister Malcolm Turnbull for states to raise income tax revenue was rejected. Brodgen has suggested that an independent chair and secretariat could be put in charge of COAG in order to facilitate the reform process.

CORPORATES
AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIA. NATIONAL COMMISSION OF AUDIT

Reforms could curb sport on free TV: Seven

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Original article by Max Mason
The Australian Financial Review – Page: 9 : 1-Apr-16

Seven West Media CEO Tim Worner has cautioned the Australian Government against taking a "piecemeal" approach to media reform. He has told a Senate committee that relaxing cross-media ownership laws could allow the Ten Network to be acquired by pay-TV group Foxtel. This in turn could eventually result in more sporting events being removed from the anti-siphoning list and shown exclusively on pay-TV. Worner has also called for broadcasting licence fees to be scrapped or reduced.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, FOX SPORTS AUSTRALIA PTY LTD, V8 SUPERCARS AUSTRALIA PTY LTD, NOVA ENTERTAINMENT PTY LTD, ILLYRIA PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN SUBSCRIPTION TELEVISION AND RADIO ASSOCIATION (ASTRA) INCORPORATED, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Include ABC, SBS in reform says Nine boss

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Original article by Max Mason
The Australian Financial Review – Page: 21 : 31-Mar-16

The Australian Government’s proposed media reforms should consider the option of merging the ABC and SBS, according to Nine Entertainment Company CEO Hugh Marks. He argues that a review of the two public broadcasters should be part any media reform agenda, noting that they have changed significantly since they were initially established. ABC MD Mark Scott recently called for to be merged with SBS.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS