Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 26-Jun-19

Shadow treasurer Jim Chalmers has indicated that Labor’s policy platform for the next federal election could potentially include scrapping the Coalition’s stage-three tax cuts that have already been legislated. He says the shadow cabinet continues to have reservations about both the legislated and unlegislated components of the third stage of the Coalition’s income tax cuts package. Chalmers’ comments have been criticised by Acting Treasurer Simon Birmingham, while Centre Alliance senator Rex Patrick remains open to supporting the full tax package.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, CENTRE ALLIANCE

Original article by Simon Benson, Joe Kelly
The Australian – Page: 1 & 2 : 25-Jun-19

The federal government will push for the Senate to pass its full income tax cuts package after Labor advised that it will not support the third stage of the tax cuts. A meeting of Labor’s frontbench endorsed the first stage of the tax package on 24 June, while Opposition Leader Anthony Albanese has urged the government to bring forward the second stage of the tax cuts to stimulate the economy. The government will require the support of four crossbench Senators if Labor votes against the full tax package.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FINANCE, CENTRE ALLIANCE, AUSTRALIAN GREENS, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY

Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 19-Jun-19

Tom Kennedy of JP Morgan estimates that the third stage of the federal government’s income tax cuts package would boost GDP by about 0.6 per cent from 2024. The stage three tax cuts are worth about $137bn in total, including $42bn worth of tax relief that has already been legislated. However, there is believed to be growing support within Labor to oppose the unlegislated component of the stage three tax cuts and to repeal the legislated component – which is slated to take effect in 2024-25 – if it wins the next election.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FINANCE, JP MORGAN AUSTRALIA LIMITED

Original article by Phillip Coorey, Tom McIlroy
The Australian Financial Review – Page: 1 & 4 : 18-Jun-19

Finance Minister Mathias Cormann contends that the third stage of the federal government’s income tax package will merely address the issue of bracket creep, rather than benefiting people on high incomes. Analysis of the impact of the tax cuts supports his view; it suggests that high-income earners’ tax liability in 2024-25 will increase by roughly the same percentage as growth in their wages if the full tax package is passed. However, their tax liability would significantly exceed wages growth if the reforms do not proceed. The Coalition is likely to require the support of Senate crossbenchers to pass the tax bill.

CORPORATES
AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY, CENTRE ALLIANCE, ONE NATION PARTY, THE CENTRE FOR INDEPENDENT STUDIES LIMITED

Original article by Tom McIlroy
The Australian Financial Review – Page: 5 : 17-Jun-19

Shadow treasurer Jim Chalmers will ask the federal government to disclose the costings for its three-stage income tax cuts package. In particular, Labor will seek details of how much of the third stage of the tax cuts will flow through to people on the highest incomes. Chalmers has written to Treasurer Josh Frydenberg, stating that while Labor is prepared to back the first stage of the tax package, it requires costings information in order to make a final decision on its support for the second and third stages.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, THE AUSTRALIA INSTITUTE LIMITED, GRATTAN INSTITUTE, AUSTRALIAN NATIONAL UNIVERSITY. CENTRE FOR SOCIAL RESEARCH AND METHODS, CENTRE ALLIANCE, ONE NATION PARTY

Original article by Rosie Lewis
The Australian – Page: 2 : 12-Jun-19

The federal government will make its income tax cuts package a top priority when parliament resumes on 2 July. However, Centre Alliance senator Rex Patrick says his party will take its time over negotiations with the government to ensure that it achieves the best outcome. Patrick has signalled that in addition to its previously stated demands in return for supporting the tax package, Centre Alliance will seek additional assistance for pensioners who will not benefit from the tax cuts.

CORPORATES
CENTRE ALLIANCE, ONE NATION PARTY, AUSTRALIAN CONSERVATIVES, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

Original article by Rosie Lewis, Michael Roddan
The Australian – Page: 1 & 4 : 11-Jun-19

The Australian Conservatives’ Cory Bernardi is currently the only Senate crossbencher who supports the Coalition’s full income tax cuts package. Other crossbenchers have outlined their key demands in return for supporting the tax cuts. One Nation leader Pauline Hanson will push for the construction of at least one high-efficiency, low-emissions coal-fired power station, a royal commission into the family law system and the implementation of the Bradfield water-diversion scheme. Centre Alliance has also identified the high cost of gas and electricity as a key issue that needs to be addressed in return for its support.

CORPORATES
AUSTRALIAN CONSERVATIVES, ONE NATION PARTY, CENTRE ALLIANCE, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE TREASURY, RESERVE BANK OF AUSTRALIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION