POLITICAL PARTIES – AUSTRALIA – PLATFORMS

Tax grab to hit lowest incomes

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Original article by Simon Benson, Joe Kelly
The Australian – Page: 1 & 6 : 14-Mar-18

The Federal Opposition claims that abolishing cash refunds for excess dividend imputation credits would primarily affect wealthy individuals and members of self-managed superannuation funds. However, analysis by the Treasury suggests that people whose annual income is less than $A18,200 would be hardest hit, which is estimated to be about 610,000 individuals. In contrast, the reforms would only affect about 5,000 people with annual income of more than $A180,000. Treasurer Scott Morrison has warned that the policy would affect more than a million Australians, including 230,000 pensioners, while the wealthy would continue to gain the full value of their franking credits.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, FINANCIAL SERVICES CONSUMER POLICY CENTRE INCORPORATED, SMSF ASSOCIATION, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN TAXATION OFFICE, CHIFLEY RESEARCH CENTRE

Labor to cut dividends cash refund

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 2 : 13-Mar-18

Opposition Leader Bill Shorten will unwind changes to the dividend imputation system that were introduced by the Coalition in 2000 if Labor wins the next federal election. The move would affect around 1.2 million taxpayers and about 200,000 members of self-managed superannuation funds, who would no longer be entitled to receive a cash refund for excess dividend imputation credits. Shorten has emphasised that nobody will pay more tax as a result of the changes, while Australians will still be able to reduce their tax via dividend imputation. The policy is forecast to boost government revenue by $A59bn over the next decade.

CORPORATES
AUSTRALIAN LABOR PARTY, KPMG AUSTRALIA PTY LTD, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE

Labor a triple threat to jobs and wages: PM

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Original article by Phillip Coorey
The Australian Financial Review – Page: W3 : 8-Mar-18

Prime Minister Malcolm Turnbull has told a business summit that unemployment would rise if Opposition Leader Bill Shorten implemented his proposed minimum wage reforms. He warned that regulating increases in the minimum wage would not be sustainable unless it was accompanied by growth in the economy. Turnbull also said that Shorten’s stance on Adani’s proposed Carmichael coal mine has resulted in a "genuine" sovereign risk that could affect other projects, with a resulting impact on jobs and investment in Australia.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, ADANI MINING PTY LTD, RESERVE BANK OF AUSTRALIA, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, INTERNATIONAL MONETARY FUND

Energy mess deters US investors

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 28-Feb-18

DowDuPont’s executive chairman Andrew Liveris has warned that uncertainty over Australia’s energy policy is adversely affecting foreign investment intentions. He recently participated in a round-table discussion in the US with Prime Minister Malcolm Turnbull, state and territory leaders and the CEOs of major US companies. Liveris told the meeting that while Dow is keen to further invest in Australia, this is dependent on a competitive and reliable energy market. He also urged bipartisan support for the Federal Government’s National Energy Guarantee.

CORPORATES
DOWDUPONT INCORPORATED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN LABOR PARTY, COUNCIL OF AUSTRALIAN GOVERNMENTS

Shorten vowed to kill Adani mine

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Original article by Rhian Deutrom, Sarah Elks
The Australian – Page: 1 & 4 : 28-Feb-18

Former Australian Conservation Foundation president Geoff Cousins held private meetings with Opposition Leader Bill Shorten in January. They discussed the potential environmental impact of Adani’s proposed Carmichael coal mine in Queensland, and Cousins says Shorten repeatedly stated that Labor will revoke Adani’s coal mining licence on environmental grounds if it wins the next election. Shorten’s stance on the Carmichael mine has wavered over the last year, and Cousins argues that he needs to resolve Labor’s policy regarding the controversial project.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN CONSERVATION FOUNDATION INCORPORATED, ADANI MINING PTY LTD, QUEENSLAND. DEPT OF THE PREMIER AND CABINET

Energy mess deters US investors

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 28-Feb-18

DowDuPont’s executive chairman Andrew Liveris has warned that uncertainty over Australia’s energy policy is adversely affecting foreign investment intentions. He recently participated in a round-table discussion in the US with Prime Minister Malcolm Turnbull, state and territory leaders and the CEOs of major US companies. Liveris told the meeting that while Dow is keen to further invest in Australia, this is dependent on a competitive and reliable energy market. He also urged bipartisan support for the Federal Government’s National Energy Guarantee.

CORPORATES
DOWDUPONT INCORPORATED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN LABOR PARTY, COUNCIL OF AUSTRALIAN GOVERNMENTS

Shorten vowed to kill Adani mine

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Original article by Rhian Deutrom, Sarah Elks
The Australian – Page: 1 & 4 : 28-Feb-18

Former Australian Conservation Foundation president Geoff Cousins held private meetings with Opposition Leader Bill Shorten in January. They discussed the potential environmental impact of Adani’s proposed Carmichael coal mine in Queensland, and Cousins says Shorten repeatedly stated that Labor will revoke Adani’s coal mining licence on environmental grounds if it wins the next election. Shorten’s stance on the Carmichael mine has wavered over the last year, and Cousins argues that he needs to resolve Labor’s policy regarding the controversial project.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN CONSERVATION FOUNDATION INCORPORATED, ADANI MINING PTY LTD, QUEENSLAND. DEPT OF THE PREMIER AND CABINET

Shorten’s IR promise to militant CFMEU

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Original article by Simon Benson
The Australian – Page: 1 & 6 : 27-Feb-18

Federal Opposition Leader Bill Shorten and employment spokesman Brendan O’Connor visited Glencore’s Oaky North coal mine in October 2017. Shorten told Construction, Forestry, Mining & Energy Union members who were engaged in a long-running strike at the site that Labor will overhaul workplace laws if it wins the next federal election. Employment Minister Craig Laundy says Shorten’s speech demonstrates that Labor intends to pursue industrial relations reforms that would give unions greater power in the workplace.

CORPORATES
AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, GLENCORE PLC, AUSTRALIA. DEPT OF EMPLOYMENT, ACTU

Hanson dooms company tax cuts

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Original article by David Uren
The Australian – Page: 1 & 6 : 26-Feb-18

Prime Minister Malcolm Turnbull has reiterated that Australia must reduce its company tax rate in order to remain internationally competitive in the wake of the Trump administration’s tax reforms. However, One Nation leader Pauline Hanson says her party will not support the tax bill in the Senate. She has also questioned whether reducing the tax rate for all companies to 25 per cent would actually result in increased investment in Australia. Acting Prime Minister Mathias Cormann says the tax package must be passed in its entirety.

CORPORATES
ONE NATION PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, LIBERAL DEMOCRATIC PARTY, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, INTERNATIONAL MONETARY FUND

Backdown on radical wage plan

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Original article by Ewin Hannan
The Australian – Page: 1 & 6 : 20-Feb-18

A future Labor government may require the Fair Work Commission to give greater consideration to the needs of people on low wages when deciding on increases in the minimum wage. At present the FWC is also required to take into account a range of economic factors, and Stephen Smith of the Australian Industry Group says the potential change outlined by the Opposition’s workplace relations spokesman Brendan O’Connor could result in many people on low wages losing their jobs. Labor had previously proposed setting the minimum wage at a proportion of the median wage.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION, THE AUSTRALIAN INDUSTRY GROUP, ACTU, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIA. DEPT OF EMPLOYMENT