Aged care tax killed off

Original article by Tom McIlroy
The Australian Financial Review – Page: 1 & 4 : 5-Mar-21

Treasurer Josh Frydenberg has acknowledged that funding for the aged-care sector needs to be increased, but he says that growing the economy is the best way to do this. The final report of the aged-care royal commission has recommended increasing funding for the sector via the tax system; however, Tony Negline from Chartered Accountants Australia and New Zealand says this is not appropriate, given that the bulk of aged-care funding already comes from taxpayers. Negline has proposed options such as requiring nursing home residents to use the equity in their family home and a reduction in the capital gains tax discount.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. ROYAL COMMISSION INTO AGED CARE QUALITY AND SAFETY, CHARTERED ACCOUNTANTS AUSTRALIA AND NEW ZEALAND

Split over aged-care reforms

Original article by Simon Benson, Geoff Chambers, Stephen Lunn
The Australian – Page: 1 & 4 : 1-Mar-21

The federal government will release the final report of the aged-care royal commission on 1 March. The two commissioners, Tony Pagone QC and Lynelle Briggs, are believed to be in agreement on more than 100 recommendations. However, they are said to be in conflict on a number of issues and will make some separate recommendations. Amongst other things, they are believed to have disagreed with regard to the future oversight and funding of the aged-care sector.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO AGED CARE QUALITY AND SAFETY

Rudd and Turnbull will be called to give evidence at Senate inquiry into media diversity

Original article by Amanda Meade
The Guardian Australia – Page: Online : 12-Nov-20

The Senate’s environment and communications references committee will undertake an inquiry into media diversity after the federal government did not oppose the motion. The committee will begin accepting submissions immediately and will report by the end of November 2021. Former prime ministers Kevin Rudd and Malcolm Turnbull are amongst those who will be asked to appear before the inquiry. Rudd organised a petition calling for a royal commission into the market dominance of News Corp.

CORPORATES
NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD

Kevin Rudd petition seeking royal commission into Murdoch media nears 500,000 signatures

Original article by Amanda Meade
The Guardian Australia – Page: Online : 4-Nov-20

More than 475,000 people have now signed a petition calling for a royal commission to ensure a strong, diverse Australian news media. The petition, which is specifically targeting the media outlets of Rupert Murdoch, was posted on the parliamentary website by former prime minister Kevin Rudd. Although the petition is unlikely to achieve its aim, Rudd says his main goal is to start a national conversation about News Corp’s negative impact on Australia.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Australia Post chair to front Senate inquiry

Original article by Tom McIlroy
The Australian Financial Review – Page: 5 : 27-Oct-20

Australia Post chairman Lucio Di Bartolomeo has been asked to appear before a special Senate estimates hearing on 13 November. The call for Di Bartolomeo to appear at the special hearing came as the terms of reference for an inquiry into the purchase of expensive watches for senior Australia Post executives were released by the federal government. Australia Post CEO Christine Holgate, who purchased the watches, has stood aside during the investigation, while John Stanhope, who was chairman of Australia Post at the time Holgate bought the watches, says he will co-operate with the inquiry.

CORPORATES
AUSTRALIA POST

Rip up aged care, start over

Original article by Stephen Lunn
The Australian – Page: 1 & 4 : 23-Oct-20

Australia’s aged-care system is no longer ‘fit for purpose’ and requires a major overhaul, according to Peter Rozen QC. He is one of the counsel assisting the royal commission into the sector. Rozen and Peter Gray QC have made a 500-page submission to the inquiry which features 124 recommendation, including the introduction of mandatory staff ratios and a legally enforceable duty of care for aged-care providers. Rozen says that at least one in five nursing home residents have received substandard care, while it is estimated that about 50 are sexually abused each week.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO AGED CARE QUALITY AND SAFETY

Bushfires royal commission granted another two months to file report

Original article by
The New Daily – Page: Online : 24-Jul-20

The Royal Commission into National Natural Disaster Arrangements has been given until 28 October to present its final report, representing a two-month extension. Emergency Management Minister David Littleproud said commission chair Mark Binskin had sought the extension because the impact of COVID-19 had made it hard for some stakeholders to provide it with information in a timely manner. Littleproud has also announced that the federal government will allocate $88.1 million in funding over 10 years for additional research into bushfires and natural hazards.

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AUSTRALIA. ROYAL COMMISSION INTO NATIONAL NATURAL DISASTER ARRANGEMENTS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Watchdog backs delay of Hayne banking reforms

Original article by Eli Greenblat
The Australian – Page: 16 : 29-May-20

Some of the recommendations arising from the Hayne royal commission were slated to be implemented in July. Australian Securities & Investments Commission chairman James Shipton has expressed support for the federal government’s decision to delay these reforms until the end of 2020, given the impact of the coronavirus pandemic on banks and the domestic economy. Shipton has also told a Senate committee that ASIC is watching out for fraudulent activity such as phoenix companies and attempts to scam people out of their superannuation savings via the early access scheme.

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AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY

Pell knew of Catholic Church abuse for decades – royal commission

Original article by
The New Daily – Page: Online : 8-May-20

Redacted sections of the final report of the Royal Commission into Institutional Responses to Child Sexual Abuse were released on 7 May, in the wake of the High Court’s decision to overturn Cardinal George Pell’s child sexual abuse convictions in April. The report indicates that the commission did not believe Pell when he claimed that Catholic Church officials had deceived and lied to him about Gerald Ridsdale – Australia’s most prolific paedophile priest – and Melbourne parish priest Peter Searson; the commission heard that the latter had abused children in parishes and schools for over 10 years. The redacted findings indicate that the commission believed that Pell was aware of sexual abuse by Catholic priests as far back as 1973. Cardinal Pell says the views of the Commission are not based on evidence.

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AUSTRALIA. ROYAL COMMISSION INTO INSTITUTIONAL RESPONSES TO CHILD SEXUAL ABUSE, CATHOLIC CHURCH

Bushfires freed two years’ worth of CO2

Original article by Graham Lloyd
The Australian – Page: 7 : 21-Apr-20

The Bushfires Royal Commission has been told that the 2019-20 bushfires released 830 million tonnes of carbon dioxide into the atmosphere. However, the extra emissions will not be counted towards Australia’s 2020 Kyoto and 2030 Paris emission reduction targets, as it is assumed that the CO2 will be reabsorbed by trees as they regrow. The federal Environment Department has told the royal commission that 96 per cent of emissions from the 2002-03 Canberra bushfires have been reabsorbed, while the amount of CO2 released by the 2019-20 bushfires was almost double Australia’s annual emissions from energy, industry and transportation.

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AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY