POLITICAL PARTIES – AUSTRALIA – PLATFORMS

Shorten super tax net to trap a million

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Original article by Rosie Lewis, Adam Creighton
The Weekend Australian – Page: Online : 12-Jan-19

Treasury analysis indicates up to one million Australians could be impacted by superannuation tax changes if Labor wins the next election. Labor’s planned changes include a cut to the cap on non-concessional superannuation contributions that people can make each year, and a reduction in the high-income super contribution threshold. The self-employed and mothers returning to work from maternity leave are among those most likely to be affected by Labor’s changes.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, RICE WARNER ACTUARIES PTY LTD

Labor slams attack on union super

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Original article by John Kehoe, Joanna Mather, David Marin-Guzman
The Australian Financial Review – Page: 1 & 4 : 11-Jan-19

Shadow treasurer Chris Bowen has criticised the Productivity Commission’s proposed changes to the default superannuation fund regime. He says restricting the default fund to a list of the 10-best performing funds is problematic, as returns can vary significantly over a period of time. The PC’s key recommendation is opposed by labour unions, while the Financial Services Council and the Association of Superannuation Funds of Australia have also expressed reservations. However, Treasurer Josh Frydenberg says the proposal has merit and is worth considering.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. PRODUCTIVITY COMMISSION, FINANCIAL SERVICES COUNCIL, THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE TREASURY, COUNCIL OF SUPERANNUATION CUSTODIANS, SUPERANNUATION CONSUMERS’ CENTRE, BT FINANCIAL GROUP PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC

Labor plans overhaul of job welfare

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Original article by Rick Morton
The Australian – Page: 1 & 4 : 8-Jan-19

The Business Council of Australia and the Council of Small Business of Australia support Labor’s proposal for changes to the Jobactive system if it wins the 2019 federal election. Amongst other things, Labor will relax the requirement that unemployed people must apply for up to 20 jobs a month. The BCA argues that this creates an unnecessary cost for both businesses and job-seekers, as employers receive many application from people who are not qualified for a job. Labor may also make changes to the ‘Work for the Dole’ scheme.

CORPORATES
AUSTRALIAN LABOR PARTY, BUSINESS COUNCIL OF AUSTRALIA, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIA. DEPT OF HUMAN SERVICES. CENTRELINK

Million face tax sting under Shorten

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Original article by Adam Creighton, Rosie Lewis
The Australian – Page: 1 & 2 : 8-Jan-19

The Treasury estimates that about 580,000 Australians will pay the highest marginal income tax rate in 2018-19. However, modelling by the Treasury suggests that this could rise to nearly 1.1 million by 2025 if Labor wins the federal election and proceeds with plans to scrap the Coalition’s proposed increase in the threshold for the top tax rate from $180,000 to $200,000 in 2024-25. The modelling also shows that the number of people in the highest tax bracket would rise to 820,000 by 2024-25 under a Coalition government.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

Labor creating a rental famine

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Original article by Greg Brown
The Australian – Page: 2 : 7-Jan-19

Liberal senator Dean Smith contends that young Australians would be most affected by Labor’s proposed changes to negative gearing. With 2.1 million renters aged between 20 and 34 in Australia, Smith says Labor’s plans represent an opportunity for the federal government to portray itself as a better option for voters in this age group. Shadow treasurer Chris Bowen says he would be happy to have a debate on whether Labor or the Coalition has the best housing policies for young people.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, SQM RESEARCH PTY LTD

Greens’ Basin bill bad for climate

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Original article by Richard Ferguson
The Australian – Page: 2 : 4-Jan-19

The Mineral Council of Australia has warned that a proposed ban on thermal coal production in Queensland’s Galilee Basin would force Asian countries to buy lower-quality coal from developing countries. The MCA argues that this could in turn result in higher global carbon emissions. In addition, it has questioned the constitutional validity of such a ban. The Australian Greens’ bill to ban thermal coal production in the Galilee Basin is also opposed by the Queensland division of the Construction, Forestry, Maritime, Mining & Energy Union.

CORPORATES
MINERALS COUNCIL OF AUSTRALIA, AUSTRALIAN GREENS, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, QUEENSLAND RESOURCES COUNCIL LIMITED, ADANI MINING PTY LTD

Labor plan to criminalise wage theft may backfire

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Original article by Anna Patty
The Sydney Morning Herald – Page: 5 : 3-Jan-19

University of Melbourne researchers Melissa Kennedy and John Howe have questioned the constitutional validity of Labor’s proposal for state laws aimed at addressing wage exploitation. They say the proposed laws in New South Wales and Victoria could conflict with federal laws such as the Fair Work Act, raising the possibility of a constitutional challenge. They have also raised concerns that criminalising wage theft could undermine the Fair Work Ombudsman’s ability to recover workers’ entitlements.

CORPORATES
UNIVERSITY OF MELBOURNE, AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK OMBUDSMAN

Shorten policy a risk to free trade

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Original article by Geoff Connolly
The Australian – Page: 1 & 2 : 3-Jan-19

Labor’s national conference in December supported changes to the party’s policy platform with regard to free-trade agreements, including bans on deals that waive ­labour-market testing requirements or include Investor State Dispute Settlement provisions. However, Trade Minister Simon Birmingham says Labor’s policy would put Australia’s future free-trade deals at risk and undermine the ability of local companies to export their products and services. Meanwhile, data to be released on 3 January will highlight the economic benefits of Australia’s free-trade deals with China and South Korea.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

Labor’s wage bargaining plans a risk to exports

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 1 & 4 : 20-Dec-18

Tom Reid of the Australian Mines & Metals Association has warned that a shift to industry-wide enterprise bargaining could undermine the competitiveness and sustainability of the nation’s resources sector. Labor proposes to restrict industry-wide bargaining to sectors that have low wages, although unions advocate extending it to other sectors of the economy. Meanwhile, Australian Retailers Association CEO Russell Zimmerman says industry-wide bargaining may be a viable alternative to the costly enterprise bargaining process for small retailers.

CORPORATES
AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED), AUSTRALIAN LABOR PARTY, AUSTRALIAN RETAILERS ASSOCIATION, ACTU, ESSO AUSTRALIA PTY LTD, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, MARITIME UNION OF AUSTRALIA, BUSINESS COUNCIL OF AUSTRALIA

Labor’s boost to union power alarms business

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 19-Dec-18

Federal Opposition Leader Bill Shorten has told Labor’s national conference that the enterprise bargaining system is not working. The national conference has endorsed a new industrial relations policy platform which includes the reinstatement of industry-wide enterprise bargaining. Shorten has also committed to reversing penalty rate cuts and abolishing the Australian Building & Construction Commission and the Registered Organisations Commission if Labor wins the 2019 election. Employer groups have urged Labor to clarify whether pattern bargaining will be restricted to low-paid workers or if it will apply across the economy.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. REGISTERED ORGANISATIONS COMMISSION, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIA. FAIR WORK COMMISSION, ACTU, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES