BUSINESS AND POLITICS – AUSTRALIA

Hipsters, Byron surfers boost Coopers in NSW

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Original article by Simon Evans
The Australian Financial Review – Page: 3 : 22-Jan-16

Data from the Australian Bureau of Statistics shows that beer consumption has fallen to its lowest level in more than six decades. Coopers Brewery MD Tim Cooper believes that beer sales will not rebound unless the Federal Government scraps the wine equalisation tax rebate. New South Wales accounted for 24.5 per cent of Coopers’ sales in 2015, while the brewer’s home state of South Australia accounted for 24.3 per cent of sales.

CORPORATES
COOPERS BREWERY LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Media rules bickering a distraction: Worner

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Original article by Jake Mitchell
The Australian – Page: 19 : 20-Jan-16

The "reach rule" and the "two-out-of-three rule" have been the focus of the Australian Government’s proposed changes to cross-media ownership laws. However, Seven West Media CEO Tim Worner believes that the issue of TV licence fees – which are the world’s highest – should be the highest priority in any reform agenda. He argues that this will encourage TV networks to invest in the industry and local content.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, WIN CORPORATION PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, PRIME MEDIA GROUP LIMITED – ASX PRT, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NATIONAL PARTY OF AUSTRALIA

Tax home sales over $2m call

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Original article by Joanna Mather
The Australian Financial Review – Page: 4 : 11-Jan-16

The Australia Institute has urged a review of the capital gains tax exemption on family homes, which is expected to cost $A189bn by 2020. This compares with $A46bn in 2015-16. The Australia Institute advocates scrapping the CGT exemption for homes valued at more than $A2m, and modelling suggests that this move could add around $A12bn to the Federal Government’s Budget bottom line over four years. AMP chairman Simon McKeon supports the Australia Institute’s proposal.

CORPORATES
THE AUSTRALIA INSTITUTE LIMITED, AMP LIMITED – ASX AMP, UNIVERSITY OF CANBERRA. NATIONAL CENTRE FOR SOCIAL AND ECONOMIC MODELLING, BUSINESS COUNCIL OF AUSTRALIA

Bosses want ban on union tactic

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Original article by Joanna Mather
The Australian Financial Review – Page: 5 : 11-Jan-16

The final report of the Royal Commission into Trade Union Governance and Corruption noted that pattern bargaining is a major issue in the construction industry. However, it not recommend a total ban on the practice as it does not seem to be widespread in other industries. Master Builders Australia CEO Wilhelm Harnisch has urged the Federal Government to introduce laws to prohibit pattern bargaining in the building industry, arguing that it increases construction costs and undermines productivity.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, MASTER BUILDERS AUSTRALIA INCORPORATED, THE AUSTRALIAN INDUSTRY GROUP, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. ROYAL COMMISSION INTO THE BUILDING AND CONSTRUCTION INDUSTRY

Surcharge may have to rise for high earners

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Original article by Joanna Mather
The Australian Financial Review – Page: 6 : 6-Jan-16

Private Healthcare Australia notes that the cost of private health insurance is now rising faster than growth in wages. This has resulted in many people being financially better off by paying the Medicare levy rather than taking out health insurance. Private Healthcare Australia has suggested that increasing the Medicare levy may be necessary to provide an incentive for people on high incomes to join a health insurance fund.

CORPORATES
PRIVATE HEALTHCARE AUSTRALIA LIMITED, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA, AUSTRALIAN MEDICAL ASSOCIATION LIMITED, AUSTRALIA. DEPT OF HEALTH

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