BUSINESS AND POLITICS – AUSTRALIA

Bowen warns on effects test

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Original article by Primrose Riordan
The Australian Financial Review – Page: 11 : 22-Oct-15

The Australian Retailers Association, Master Grocers Australia and the Australian Chamber of Commerce & Industry are among the groups that support adding a so-called "effects" test to the Competition Act. However, shadow treasurer Chris Bowen has told an audience of grocers that small businesses would face a huge legal bill if they pursue action under the effects test and fail. Master Grocers Australia CEO Jos de Bruin has dismissed Bowen’s comments as a "scare campaign".

CORPORATES
AUSTRALIAN RETAILERS ASSOCIATION, MASTER GROCERS’ AUSTRALIA PTY LTD, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN LABOR PARTY, AUSTRALIAN HOTELS ASSOCIATION, NATIONAL FARMERS’ FEDERATION LIMITED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Poorer families may earn double before tax in GST plan

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Original article by Joanna Mather
The Australian Financial Review – Page: 5 : 20-Oct-15

CPA Australia supports the idea of raising the tax-free threshold to match the minimum wage at $A33,327 a year, to compensate low-income earners for increasing the goods and services tax. CPA CEO Alex Malley said such a move would make work more attractive than welfare payments. Australian National University research fellow Rob Bray has doubts about the effectiveness of the higher tax-free threshold.

CORPORATES
CPA AUSTRALIA, ACTU, LIBERAL PARTY OF AUSTRALIA, KPMG AUSTRALIA PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN NATIONAL UNIVERSITY

News Corp takes ‘tread lightly’ approach

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Original article by Dominic White
The Australian Financial Review – Page: 28 : 19-Oct-15

Media industry sources have suggested that cross-media ownership reforms are on the Australian Government’s agenda again, after being shelved by ex-prime minister Tony Abbott. News Corp Australia CEO Julian Clarke and Foxtel CEO Richard Freudenstein recently held talks with Communications Minister Mitch Fifield. Both media groups are believed to be more open to reforms, although their stance on the exact nature of the changes that should be implemented is said to be unchanged.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FOXTEL MANAGEMENT PTY LTD, AUSTRALIA. DEPT OF COMMUNICATIONS, 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

Fix the ‘pain points’ for travellers, Joyce urges the government

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Original article by Jamie Freed
The Australian Financial Review – Page: 37 : 15-Oct-15

Qantas CEO Alan Joyce has called on the Australian Government to reduce the cost of multi-year entry visas which are about to be made available to Chinese travellers. The visa will cost $A1,000, while Chinese nationals pay just $A30 for a similar visa to Singapore. Joyce has also proposed reducing queues at customs and immigration at Australian airports.

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, AIRASIA X SDN BHD, VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, NATIONAL PRESS CLUB (AUSTRALIA)

Reform back on the agenda

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Original article by Sharri Markson
The Australian – Page: 23 : 5-Oct-15

The Australian Government is believed to be open to reviewing the list of sporting events for which free-to-air networks must be given first right of refusal. The Government may agree to relax the anti-siphoning list in return for industry support for changes to cross-media ownership rules. Seven West Media opposes changes to both cross-media laws and the anti-siphoning list, while News Corp favours reviewing the latter as part of a broader overhaul of media laws.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, SEVEN WEST MEDIA LIMITED – ASX SWM, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, PRIME MEDIA GROUP LIMITED – ASX PRT, NETFLIX INCORPORATED, GOOGLE INCORPORATED

Regionals push for local news services

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Original article by Dominic White
The Australian Financial Review – Page: 31 : 5-Oct-15

Australia’s regional TV broadcasters will propose a number of safeguards to ensure that local content levels are maintained if cross-media ownership laws are scrapped. Among other things, they have suggested that a "change of control" clause be added to their broadcasting licence, to prevent further reductions in local news services. Local news accounts for about 15 per cent of regional networks’ costs, and they argue that this is one of the few areas in which they can make further cost savings.

CORPORATES
PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS AUSTEREO PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD, IMPARJA TELEVISION PTY LTD, AUSTRALIA. DEPT OF COMMUNICATIONS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NBN TELEVISION

BCA keen to promote tax revamp ideas

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Original article by Phillip Coorey
The Australian Financial Review – Page: 11 : 1-Oct-15

Prime Minister Malcolm Turnbull will discuss economic policy with business, union and community organisation leaders on 1 October 2015. Business Council of Australia (BCA) CEO Jennifer Westacott says there is an urgent need for economic reform, which cannot be delayed until after the next federal election. Westacott adds that the BCA will shortly launch an advertising campaign to promote the need for tax reform, while a subsequent campaign will focus on particular tax that should be changed.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, ACTU, AUSTRALIAN COUNCIL OF SOCIAL SERVICE, KPMG AUSTRALIA PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

TV networks split on reform

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Original article by Dominic White
The Australian Financial Review – Page: 18 : 29-Sep-15

The issue of Australia’s cross-media ownership laws is again under scrutiny, with further dissent among major TV broadcasters. Nine Entertainment Company and Prime Media Group say they will support relaxing the rules governing sports broadcasts in return for changes to the ownership regime. However, Seven West Media and Ten Network oppose any move to reduce the number of sports on the anti-siphoning list. Communications Minister Mitch Fifield plans to review the list.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, PRIME MEDIA GROUP LIMITED – ASX PRT, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, AUSTRALIA. DEPT OF COMMUNICATIONS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FOXTEL MANAGEMENT PTY LTD, SOUTHERN CROSS AUSTEREO PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, FREE TV AUSTRALIA LIMITED, CROSBY TEXTOR RESEARCH STRATEGIES RESULTS PTY LTD, WIN CORPORATION PTY LTD, IMPARJA TELEVISION PTY LTD

Workplace reform ‘must be a priority’

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Original article by Andrew White, Kylar Loussikian
The Australian – Page: 4 : 25-Sep-15

Washington H Soul Pattinson’s executive chairman Robert Millner has urged the Australian Government to pursue workplace reforms. He has identified the penalty rates system and high labour costs in the manufacturing sector as key issues that need to be addressed. Millner has also criticised the number of rostered days off in sectors such as manufacturing, as well the high level of leave entitlements for construction workers.

CORPORATES
WASHINGTON H SOUL PATTINSON AND COMPANY LIMITED – ASX SOL, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BRICKWORKS LIMITED – ASX BKW, NEW HOPE CORPORATION LIMITED – ASX NHC, LIBERAL-NATIONAL PARTY OF QUEENSLAND, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA

BHP warns tax changes could result in double whammy

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Original article by Amanda Saunders
The Australian Financial Review – Page: 21 & 26 : 24-Sep-15

BHP Billiton has advised that its global tax bill for 2014-15 was $US7.3bn, with taxes and royalties in Australia accounting for $US5.2bn ($A7.3bn) of this total. CFO Peter Beaven says the resources group believes that the amount of tax it pays is "very fair", and said nearly all of its profits earned in Australia are subject to taxation in Australia. Beaven adds that while there is need for a debate on tax reform, he cautioned that unilateral tax reform could potentially lead to companies being taxed twice.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT