BUSINESS AND POLITICS – AUSTRALIA

Government jumped gun with Optus attack

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Original article by David Swan
The Australian – Page: 1 & 2 : 4-Oct-22

Optus has hired Deloitte to undertake an investigation into its security systems, controls and processes in the wake of its recent data breach, which was the largest in Australian history. Optus CEO Kelly Bayer Rosmarin has denied there is any rift between it and the federal government, and that the telco is fully co-operating with all requests for information. A number of federal government ministers have criticised Optus for not already having supplied it with details regarding compromised Medicare and Centrelink data, despite Services Australia having given it until 4 October to provide the information.

CORPORATES
SINGTEL OPTUS PTY LTD, AUSTRALIA. SERVICES AUSTRALIA. CENTRELINK, AUSTRALIA. SERVICES AUSTRALIA. MEDICARE AUSTRALIA, DELOITTE TOUCHE TOHMATSU LIMITED

Gas companies made almost $1m in donations to Labor and Liberals

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Original article by Royce Kurmelovs
The Guardian Australia – Page: Online : 2-Feb-22

Analysis of the Australian Electoral Commission’s political donation records show that fossil fuel producers and their lobby groups donated a combined $959,115 to the nation’s three largest political parties in 2020-21. The analysis by 350.org shows that the Liberal Party received $506,810 in total, ahead of Labor ($392,354) and the National Party ($59,991). Woodside Petroleum topped the list of donors, contributing a combined $232,250 to the coffers of the Liberal and Labor parties; it was followed by the Minerals Council of Australia, which donated $193,943 in total to the three political parties. The Greens do not accept donations from fossil fuel companies.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, AUSTRALIAN ELECTORAL COMMISSION, 350.ORG

Forrest defends bid to axe diesel rebate

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Original article by Nick Evans
The Australian – Page: 15 & 18 : 24-Nov-21

Fortescue Metals Group founder Andrew Forrest says the diesel fuel rebate costs taxpayers about $5bn a year at present. He adds that a small number of large mining and energy companies receive the bulk of the rebate, and he has urged the federal government to start phasing it out between 2025 and 2030. However, Forrest says the rebate should only be scrapped for large mining and energy companies, and it should be retained for farmers and other small business than rely upon it. The Mineral Council of Australia is among the critics of Forrest’s push to have the rebate scrapped.

CORPORATES
FORTESCUE FUTURE INDUSTRIES PTY LTD, MINERAL COUNCIL OF AUSTRALIA

Vaccine targets essential: Roy Hill

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Original article by Nick Evans
The Australian – Page: 17 : 4-Aug-21

Roy Hill CEO Gerhard Veldsman addressed the annual Diggers and Dealers conference in Kalgoorlie on 3 August. He warned that the skilled labour shortage in Western Australia will continue while coronavirus-induced interstate travel restrictions remain in place. Veldsman also stressed the need for about 80 per cent of the nation’s population to be vaccinated, arguing that Australia risks falling behind the rest of the world. He added that the national cabinet’s latest four-stage plan to re-open the economy must include firm target dates for each of these stages.

CORPORATES
ROY HILL HOLDINGS PTY LTD, DIGGERS AND DEALERS FORUM

Feds should lead the charge on payroll tax reform: ACCI

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Original article by Ronald Mizen
The Australian Financial Review – Page: 9 : 6-Jul-21

Payroll tax is consistently one of the most pressing issues for business, according to a survey by the Australian Chamber of Commerce & Industry, and is viewed as an impediment to employment and economic growth. The ACCI has called the federal government to lead the way in its abolition by making up some of the revenue that would be lost by the states and territories if it was scrapped, with the states having levied almost $27 billion in payroll taxes in 2018-19. One possible option to replace money lost by scrapping payroll tax would be for the federal government to increase the GST and diverting the extra money raised back to the states.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY

Virus exit plan leaves us behind: business

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Original article by Hannah Wootton, Mark Ludlow
The Australian Financial Review – Page: 1 & 4 : 5-Jul-21

Business leaders have generally welcomed the federal government’s four-step plan to reopen Australia in the wake of the COVID-19 pandemic. However, they have called for greater clarity regarding the timeframe for reopening the economy, as well as the vaccination targets that will be required for each step of the plan. The four-point plan aims to phase out snap lockdowns and state border closures in early 2022, while the nation’s international borders will re-open later in that year. Business Council of Australia CEO Jennifer Westacott says the success of the exit strategy will depend on co-operation from the state and territory governments.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA

Lower corporate taxes vital to growth

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Original article by Tom Dusevic
The Australian – Page: 2 : 30-Jun-21

The Business Council of Australia has released a discussion paper which calls for an overhaul of the nation’s tax system. The BCA contends that tax revenue is too heavily skewed toward the largest companies and the three per cent of individuals who pay the highest personal income tax, and the tax system must evolve in line with a changing economy. BCA CEO Jennifer Westacott says the 30 per cent company tax rate in particular needs to be reviewed, given that the OECD and the Group of Seven have proposed a global minimum corporate tax rate of just 15 per cent.

CORPORATES
BUSINESS COUNCIL OF AUSTRALIA, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, GROUP OF SEVEN (G-7)

Energy giants hit with $1bn clean-up tax

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Original article by Perry Williams
The Australian – Page: 13 & 18 : 30-Jun-21

APPEA CEO Andrew McConville warns that the federal government’s proposed levy on the nation’s offshore oil and gas industry will be a major disincentive for investment in the sector. The levy of $0.48 per barrel on offshore production would be used to help meet the cost of decommissioning the Northern Endeavour floating platform and associated oil fields in the Timor Sea. The levy would take effect on 1 July and is expected to cost about $367m a year, and potentially up to $1bn in total. A key criticism of the levy is the fact that it would apply to energy producers that had no exposure to the Northern Endeavour project.

CORPORATES
AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED

Vaccine passports risk a two-class country

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Original article by Rosie Lewis
The Australian – Page: 4 : 21-May-21

Business leaders have questioned the merits of the federal government’s proposed ‘vaccine passport’ system for domestic travellers. It would allow fully vaccinated people to travel interstate and return without being subject to COVID-19 restrictions. Restaurant & Catering CEO Wes Lambert says it would be "very cumbersome" and create more red tape; he adds that it might also create two classes of Australians, based on their vaccination status. Queensland Premier Annastacia Palaszczuk and New South Wales counterpart Gladys Berejiklian both oppose the scheme. Meanwhile, five new COVID-19 cases have been reported in hotel quarantine nationwide in the last 24 hours.

CORPORATES
RESTAURANT AND CATERING INDUSTRY ASSOCIATION OF AUSTRALIA INCORPORATED, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET

Levy sparks alarm in energy industry

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Original article by Perry Williams
The Australian – Page: 19 : 13-May-21

Industry body APPEA has expressed concern about the federal government’s proposed levy on the nation’s offshore oil and gas industry. The Budget measure will help fund the cost of decommissioning the Northern Endeavour floating platform and the associated Laminaria and Corallina oil fields in the Timor Sea. APPEA Andrew McConville says other options should be considered, warning that the levy is a "terrible precedent" that could adversely affect the domestic economy and jobs in the oil and gas sector.

CORPORATES
AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED