POLITICAL PARTIES – AUSTRALIA – PLATFORMS

PM wants tax stoush before Super Saturday

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Original article by Joe Kelly
The Australian – Page: 4 : 29-May-18

The Federal Government aims to have its proposed corporate and personal income tax cuts passed by the Senate prior to the five by-elections on 28 July. Finance Minister Mathias Cormann has advised that the tax packages will be put to the upper house before the end of June, despite the fact that the government currently has insufficient support for either of them. Opposition Leader Bill Shorten has ruled out supporting the company tax cuts package, while One Nation leader Pauline Hanson argues that the full reduction in the corporate tax rate should be implemented immediately.

CORPORATES
AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, ONE NATION PARTY, NEWSPOLL

One Nation open to cutting deal on company tax cut

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 25-May-18

One Nation may be crucial to the Federal Government’s prospects of getting its company and personal income tax packages through the Senate. One Nation leader Pauline Hanson has indicated that the party may be willing to agree to a revenue threshold of $A500m for the company tax cuts. One Nation also supports the first two stages of the government’s three-stage personal income tax package, and if it backs the final stage the government would be able to pass the entire package without Labor’s support.

CORPORATES
ONE NATION PARTY, AUSTRALIAN LABOR PARTY, CENTRE ALLIANCE, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN GREENS

Senate showdown looms on tax cuts

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Original article by Joe Kelly
The Australian – Page: 5 : 24-May-18

Treasurer Scott Morrison has revealed that the Federal Government’s three-stage personal income tax package will cost $A143.95bn in total, with the first two stages to cost $A102.35bn. The tax bill was passed by the House of Representatives on 23 May, although it is likely to face resistance in the Senate. Labor and crossbench senators have urged the Government to legislate the first stage of the tax cuts separately. Meanwhile, Finance Minister Mathias Cormann says the company tax cuts package will be part of the Coalition’s policy agenda for the next election.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FINANCE, NATIONAL PARTY OF AUSTRALIA, ONE NATION PARTY

Labor open to union demands, rejects strike bid

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Original article by Ewin Hannan
The Australian – Page: 2 : 23-May-18

Shadow workplace relations minister Brendan O’Connor has indicated that Labor will consider a proposal for rules governing unions’ right to enter workplaces to be relaxed. The Construction, Forestry, Maritime, Mining & Energy Union’s Victorian secretary John Setka has also called for Labor to make changes to the provisions of the Fair Work Act with regard to protected industrial action, although O’Connor says this will not be on the party’s agenda.

CORPORATES
AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, ACTU, AUSTRALIA. FAIR WORK COMMISSION

Hanson sinks PM’s tax plan

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Original article by Joe Kelly
The Australian – Page: 1 & 6 : 22-May-18

The Federal Government’s company tax cuts package faces likely defeat in the Senate, after One Nation withdrew its support for the policy. One Nation leader Pauline Hanson has questioned whether the policy would result in more jobs, given that the tax cuts would take a number of years to fully implement. Hanson adds that the exclusion of an apprenticeship scheme and funding for a coal-fired power station from the May 2018 Budget also contributed to One Nation’s decision to change its stance on the tax cuts. However, it may reverse its decision if the Government agrees to new concessions.

CORPORATES
ONE NATION PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CENTRE ALLIANCE, AUSTRALIAN LABOR PARTY

Crossbenchers link Google levy to company tax support

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Original article by Ben Packham
The Australian – Page: 1 & 4 : 21-May-18

The Federal Government will shortly release a discussion paper on the taxation of multinational technology companies. Centre Alliance senators Rex Patrick and Stirling Griff have signalled that the proposed "Google tax" may influence how they vote on the government’s corporate tax package. Senator Patrick says the party wants to ensure that digital companies are taxed appropriately, which it believes is not the case at present. Treasurer Scott Morrison flagged a tax crackdown on technology companies in his Budget speech.

CORPORATES
CENTRE ALLIANCE, AUSTRALIA. DEPT OF THE TREASURY, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

PRRT changes may be leverage on One Nation

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Original article by Phillip Coorey, Angela Macdonald-Smith
The Australian Financial Review – Page: 3 : 18-May-18

The Federal Government requires the support of at least one additional Senate crossbencher for its company tax package. Proposed changes to the Petroleum Resources Rent Tax were absent from the May 2018 Budget, and sources have confirmed that this was partially to provide the government with a bargaining tool amid concerns that One Nation may back down on its support for the tax cuts. The changes to the PRRT would only affect future oil and gas projects, but industry players want the reforms to be enacted before the next election in case Labor wins and opts to subject existing projects to the new regime.

CORPORATES
ONE NATION PARTY

Labor will stick to top tax rate of 49pc

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Original article by Phillip Coorey
The Australian Financial Review – Page: 6 : 17-May-18

Shadow treasurer Chris Bowen has used a National Press Club speech to reiterate that a Labor government would reinstate the temporary budget repair levy. Bowen argued that the two per cent levy on incomes of more than $A180,000 is justified as the Budget is still in deficit. He added that Labor would retain the levy until the Budget is sustainably in surplus, and nominated one per cent of GDP as a likely figure. Bowen also gave indications that Labor will support the second stage of the May 2018 Budget’s income tax package.

CORPORATES
AUSTRALIAN LABOR PARTY, NATIONAL PRESS CLUB (AUSTRALIA)

Retirees to fund Labor cash spree

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Original article by Simon Benson, Joe Kelly
The Australian – Page: 1 & 4 : 16-May-18

It is estimated that the Federal Opposition’s tax plan would raise almost $A30bn in additional revenue over the four years to 2021-22. Labor’s proposal to scrap cash refund for excess dividend imputation credits, which primarily affects self-fund retirees, would account for $A10.7bn of this revenue, according to the Treasury and the Parliamentary Budget Office. Shadow treasurer Chris Bowen will use a speech on 15 May to emphasise that the bulk of the extra revenue will be used to reduce debt and the Budget deficit. Labor also intends to match the Coalition’s revised target of 2019-20 for achieving a surplus.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NATIONAL PRESS CLUB (AUSTRALIA)

Leave tax cuts alone, Hinch tells Shorten

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Original article by Joe Kelly
The Australian – Page: 4 : 16-May-18

The tax rate for companies with turnover of up to $A50m is slated to be reduced to 27.5 per cent on 1 July, as part of the Federal Government’s enterprise tax plan. Opposition Leader Bill Shorten has committed to supporting tax cuts for businesses with turnover of up to $A2m, although Labor is believed to be open to raising this threshold to $A10m. Senate crossbencher Derryn Hinch says Labor should not seek to reverse the legislated tax cuts if it wins the next election.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, MASTER GROCERS’ AUSTRALIA PTY LTD, IGA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE