BUSINESS AND POLITICS – AUSTRALIA

Call for tax breaks to put us on the big screen

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Original article by Leo Shanahan
The Australian – Page: 17 : 5-Jan-16

Australia’s uncompetitive tax rebate system for the film industry has prompted expatriate producer Andrew Banks to shot feature film "Submergence" in Germany, Spain and Kenya. Banks says the film could have been made in Australia if the tax incentives for local productions were more attractive. He notes that the tax breaks for the film industry are significantly higher in countries such as the UK, New Zealand and Canada.

CORPORATES
LILA 9TH PRODUCTIONS, NATIONAL INSTITUTE OF DRAMATIC ARTS, THE OLD TOTE THEATRE COMPANY, TEN NETWORK HOLDINGS LIMITED – ASX TEN, RATPAC ENTERTAINMENT

Heavyweight miners predict little respite

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Original article by Perry Williams
The Australian Financial Review – Page: 11 & 22 : 4-Jan-16

Former Rio Tinto CEO Leigh Clifford says commodity prices may not rebound for another 3-5 years, and mining companies with high production costs in particular face challenging conditions. Former Orica chairman Malcolm Broomhead says action is needed to boost labour productivity, and he has urged the Australian Government to pursue reforms in areas such as industrial relations and taxation in order to boost productivity.

CORPORATES
RIO TINTO LIMITED – ASX RIO, ORICA LIMITED – ASX ORI, BHP BILLITON LIMITED – ASX BHP, QANTAS AIRWAYS LIMITED – ASX QAN, ASCIANO LIMITED – ASX AIO, KKR AND COMPANY LP

Business push to cut Sunday penalty rates

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Original article by Ewin Hannan
The Australian Financial Review – Page: 4 : 23-Dec-15

Business leaders want Fair Work Commission (FWC) president Iain Ross to consider the Productivity Commission’s recommendations on penalty rates in his review of the system. However, labour unions will fight the proposal to bring Sunday penalty rates in some industries in line with those for working on Saturday. The Federal Government’s 2016 election platform will include some of the Productivity Commission’s recommendations, although it is not expected to endorse a proposal to split the functions of the FWC.

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. DEPT OF EMPLOYMENT, THE AUSTRALIAN INDUSTRY GROUP, UNITED VOICE, AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION

Business blasts IR blueprint

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Original article by Ewin Hannan
The Australian Financial Review – Page: 1 & 4 : 22-Dec-15

Business leaders have criticised the Productivity Commission for failing to deal with the complexity of Australia’s workplace relations system. Scott Barklamb, executive director of the Australian Mines & Metals Association, said the commission was too cautious in its recommendations. Kate Carnell, the CEO of the Australian Chamber of Commerce & Industry, described the report as "an opportunity lost". The commission has proposed reducing Sunday penalty rates in certain industries to the level of Saturday rates. Employment Minister Michaelia Cash said the issue will be determined by a Fair Work Commission review.

CORPORATES
AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), THE AUSTRALIAN INDUSTRY GROUP, BHP BILLITON LIMITED – ASX BHP

Tireless hero for innovation

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Original article by Jennifer Hewett
The Australian Financial Review – Page: 35 & 36 : 18-Dec-15

Business Council of Australia president Catherine Livingstone has been named the Business Person of the Year for 2015 by "The Australian Financial Review". Livingstone has been a keen advocate for a greater focus on innovation, and she has welcomed the Federal Government’s innovation statement under new Prime Minister Malcolm Turnbull. She also believes that tax reform should be a priority for the Government.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, TELSTRA CORPORATION LIMITED – ASX TLS, COCHLEAR LIMITED – ASX COH, AUSTRALIA. NATIONAL COMMISSION OF AUDIT, AUSTRALIA. DEPT OF THE TREASURY, VICTORIA. DEPT OF PREMIER AND CABINET, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, CSIRO

Obsolete media rules shackle Foxtel, says Ten chairman

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Original article by Dominic White, Max Mason
The Australian Financial Review – Page: 13 & 18 : 17-Dec-15

Shareholders at Ten Network’s 2015 AGM have voted in favour of a deal for Foxtel to acquire a 15 per cent stake in the free-to-air broadcaster. Meanwhile, Ten chairman David Gordon has urged the Australian Government to abolish cross-media ownership rules, noting that the growth of digital media groups has made the rules redundant. He has also called for TV broadcasting licence fees to be scrapped, arguing that digital rivals have a competitive advantage.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, WIN CORPORATION PTY LTD, BLACKMORES LIMITED – ASX BKL

Business pushes PM on IR, tax

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Original article by Ben Potter, Ewin Hannan, Patrick Durkin
The Australian Financial Review – Page: 1 & 11 : 9-Dec-15

Business Council of Australia president Catherine Livingstone has used the Workplace and Productivity Summit to call on the Federal Government to pursue changes to the industrial relations and tax regimes. However, economist Ross Garnaut told the summit – which has been organised by "The Australian Financial Review" – that there is no need for tax cuts in sectors that face limited competition. GE Australia CEO Geoff Culbert and ACTU secretary Dave Oliver were among the other speakers during the first day of the summit.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, GE AUSTRALIA AND NEW ZEALAND, ACTU, AUSTRALIAN HUMAN RESOURCES INSTITUTE, SINGTEL OPTUS PTY LTD, AIRTASKER PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, FAIRFAX MEDIA LIMITED – ASX FXJ

Health funds serve wish-lists to Ley

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Original article by Tim Binsted
The Australian Financial Review – Page: 17 : 4-Dec-15

Australian private health insurers must lodge submissions on the Federal Government’s review of the sector by 4 December 2015. Health insurers have proposed the introduction of a lifetime discount for people under the age of 30, in order to encourage a greater take-up rate among young people. Insurers are also concerned that the annual cost of medical devices and prostheses is significantly higher than it should be.

CORPORATES
BUPA AUSTRALIA PTY LTD, MEDIBANK PRIVATE LIMITED – ASX MPL, NIB HOLDINGS LIMITED – ASX NHF, AUSTRALIA. DEPT OF HEALTH

Rinehart to Labor: follow Malcolm’s lead and ditch carbon tax

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Original article by Perry Williams
The Age – Page: 25 : 4-Dec-15

The Australian Labor Party’s 2016 federal election platform will include an emissions trading scheme. However, mining magnate Gina Rinehart has urged the Opposition to commit to not introducing a carbon tax, arguing that governments should not be imposing any taxes on companies that reduce their ability to compete internationally. Rinehart has also noted the dearth of major greenfield mining projects in Australia following the start of production at her Roy Hill iron ore project.

CORPORATES
AUSTRALIAN LABOR PARTY, ROY HILL IRON ORE PTY LTD, HANCOCK PROSPECTING PTY LTD, POSCHELK DENTAL SURGERIES, MARUBENI CORPORATION, CHINA STEEL CORPORATION, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, LIBERAL PARTY OF AUSTRALIA

Rio’s Walsh wants Australia to aim for Asia’s tax rate

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Original article by Amanda Saunders
The Australian Financial Review – Page: 9 : 3-Dec-15

Rio Tinto CEO Sam Walsh says reducing Australia’s company tax rate is the best way to encourage investment and new business start-ups. He notes that the average corporate tax rate in Asia is around 21 per cent, and suggests that Australia should seek to reduce its company tax rate to a similar level.

CORPORATES
RIO TINTO LIMITED – ASX RIO, GROUP OF TWENTY (G-20)