Cormann full throttle on company tax cuts

Original article by Rosie Lewis
The Australian – Page: 6 : 8-Aug-18

The Federal Government has signalled that it will seek passage of its full company tax cuts package through the Senate by 23 August. Finance Minister Mathias Cormann is said to still be holding talks with One Nation and Centre Alliance regarding the tax package. He has ruled out imposing a revenue cap of $500m on the tax cuts, although he may be open to fast-tracking tax cuts for smaller companies.

CORPORATES
AUSTRALIA. DEPT OF FINANCE, ONE NATION PARTY, CENTRE ALLIANCE, LIBERAL DEMOCRATIC PARTY

Senate support to fast-track small biz cuts

Original article by Phillip Coorey
The Australian Financial Review – Page: 3 : 7-Aug-18

The Federal Government will seek to pass its full company tax cuts package in the Senate when parliament resumes in mid-August. The support of One Nation and Centre Alliance senators will be crucial, although they are still unwilling to endorse the full package. However, both minor parties have signalled that they would most likely support any proposal to bring forward tax cuts for businesses with turnover of less than $50m. The tax cuts are slated to take effect in 2026-27, but Centre Alliance senator Stirling Griff says he would be open to reducing the tax rate for these businesses to 25 per cent immediately.

CORPORATES
ONE NATION PARTY, CENTRE ALLIANCE, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY

Labor states keep energy plan alive

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 7-Aug-18

Labor-led state governments are unlikely to support the national energy guarantee at the Council of Australian Governments meeting on 10 August. However, the Victorian, Queensland and ACT governments have indicated that they are open to backing the NEG, although they will not make a final decision until after the policy is put to the federal Coalition’s joint party room meeting on 14 August. The NEG’s proposed carbon emissions reduction target remains a key point of contention for Labor at both state and federal level.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. ENERGY SECURITY BOARD, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, VICTORIA. DEPT OF ENVIRONMENT, LAND, WATER AND PLANNING, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Labor split risks killing energy deal

Original article by Simon Benson, Michael McKenna, Samantha Hutchinson, Michael Owen
The Australian – Page: 1 & 6 : 6-Aug-18

The Labor Environment Action Network says the proposed national energy guarantee should only be supported if there is provision for carbon emissions reduction targets to be increased to match Labor’s own stated targets. Labor’s environmental wing argues that it is in the nation’s interests to resolve the impasse regarding energy policy. However, a Queensland Government source has indicated that it will not support the NEG in its current form, while Victorian Premier Daniel Andrews says his state will not back the NEG unless the Federal Government can demonstrate that its own party room will support the policy.

CORPORATES
AUSTRALIAN LABOR PARTY, LABOR ENVIRONMENT ACTION NETWORK, VICTORIA. DEPT OF PREMIER AND CABINET, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. ENERGY SECURITY BOARD, COUNCIL OF AUSTRALIAN GOVERNMENTS, GETUP LIMITED, GREENPEACE AUSTRALIA PACIFIC LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, LIBERAL PARTY OF SOUTH AUSTRALIA

Labor leaps on S&P write-off call for NBN

Original article by Supratim Adhikari
The Australian – Page: 25 : 27-Jul-18

Labor has called for the Auditor-General to audit the National Broadband Network’s books, although Finance Minister Mathias Cormann has labelled the suggestion an "ignorant stunt". Labor’s proposal follows a report from S&P Global Ratings which states that the NBN should be written off, with Labor stating that any proposed audit should concentrate on the NBN’s market share and revenue forecasts up until 2040. Labor has not indicated whether it would write off the NBN if it wins the next federal election.

CORPORATES
AUSTRALIAN LABOR PARTY, NBN CO LIMITED, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. OFFICE OF THE AUDITOR-GENERAL, STANDARD AND POOR’S (AUSTRALIA) PTY LTD

Labor ponders emissions target showdown

Original article by Phillip Coorey
The Australian Financial Review – Page: 11 : 27-Jul-18

Labor is expected to support the passage of the federal government’s National Energy Guarantee in the House of Representatives. However, it is understood that Labor will seek to amend the NEG’s carbon emissions reduction target in the Senate, and it may have the numbers to achieve this. The government’s intention is that emissions be reduced to 26 per cent of 2005 levels by 2030, but Labor believes that a higher target should be set. If Labor go ahead with this strategy, it could well become a key election issue.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN GREENS, CENTRE ALLIANCE, AUSTRALIA. ENERGY SECURITY BOARD

Labor move to kill off energy deal

Original article by Ben Packham
The Australian – Page: 1 & 2 : 26-Jul-18

The Federal Government will require the support of Senate crossbenchers for its national energy guarantee, after Labor signalled that it will oppose the policy even if it is approved by the states and territories. Labor’s energy spokesman Mark Butler has described the NEG’s carbon emissions reduction target as "un­realistic" and warned that the policy will adversely affect jobs and investment in the renewable energy sector. Smart Energy Council CEO John Grimes has expressed similar concerns, while Victorian Energy Policy Centre director Bruce Mountain has questioned the need for the NEG.

CORPORATES
AUSTRALIAN LABOR PARTY, SMART ENERGY COUNCIL, VICTORIAN ENERGY POLICY CENTRE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, COUNCIL OF AUSTRALIAN GOVERNMENTS, ONE NATION PARTY, AUSTRALIA. ENERGY SECURITY BOARD, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED

Coalition mulls new company tax options

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 19-Jul-18

The Federal Government remains hopeful of gaining the support of One Nation and Centre Alliance for its full corporate tax cuts package when parliament resumes in August. The two minor parties have a combined four seats in the Senate, which would be sufficient for the tax bill to be passed. However, the Government may consider bringing forward tax cuts that have already been legislated if its full tax package is rejected by the Senate.

CORPORATES
ONE NATION PARTY, CENTRE ALLIANCE, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY, BUSINESS COUNCIL OF AUSTRALIA, BUSINESS SA, COOPERS BREWERY LIMITED, THOMAS FOODS INTERNATIONAL

Shorten vows he’ll restore Sunday penalties in 100 days

Original article by Ewin Hannan
The Australian – Page: 6 : 18-Jul-18

Opposition Leader Bill Shorten has told the ACTU Congress that he will reverse weekend penalty rate cuts within his first 100 days in office if Labor wins the next election. He also committed to amending the Fair Work Act to prevent penalty rates from being "arbitrarily" reduced in the future. Labor will also legislate for casual staff to become permanent employees after a certain period of continuous employment.

CORPORATES
AUSTRALIAN LABOR PARTY, ACTU

Shorten’s fair-pay pledge to workers

Original article by Ewin Hannan
The Australian – Page: 5 : 17-Jul-18

Opposition Leader Bill Shorten will use an ACTU Congress speech on 17 July to press his industrial relations credentials. He will commit to legislating to ensure that labour-hire firms face prosecution for underpaying their staff. Shorten will argue that such workers should receive the same wages and conditions as directly-employed colleagues who are covered by an enterprise agreement. The Australian Industry Group says Shorten’s proposal would reduce workplace flexibility and make local businesses less competitive.

CORPORATES
AUSTRALIAN LABOR PARTY, ACTU, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIA. FAIR WORK OMBUDSMAN