POLITICAL PARTIES – AUSTRALIA – PLATFORMS

NXT considers further media compromise

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Original article by Rosie Lewis, David Crowe
The Australian – Page: 6 : 30-Aug-17

The Federal Government requires the support of 10 crossbench senators for its cross-media ownership reforms when Parliament resumes in early September. There are indications that the Nick Xenophon Team may be prepared to accept a compromise on its proposed tax break for smaller media companies in return for supporting the reforms. The Australian Labor Party has not changed its stance on opposing the abolition of the "two-out-of-three" rule.

CORPORATES
NICK XENOPHON TEAM, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ONE NATION PARTY, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, TEN NETWORK HOLDINGS LIMITED – ASX TEN, CBS CORPORATION

APRA probe risks CBA rating

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Original article by Jonathan Shapiro, Phillip Coorey, James Eyers
The Australian Financial Review – Page: 1 & 6 : 29-Aug-17

The Australian Prudential Regulation Authority will establish an independent panel to review the Commonwealth Bank of Australia’s governance, culture and accountability. CBA CEO Ian Narev has described the review, which follows a series of scandals at the nation’s largest bank, as a "positive and constructive step". However, ratings agencies S&P Global and Fitch have warned that CBA’s credit rating could be downgraded if the review results in any adverse findings. Shadow treasurer Chris Bowen maintains that a royal commission into the entire banking sector is needed.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, S&P GLOBAL RATINGS, FITCH RATINGS LIMITED, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, STANDARD AND POOR’S ASX 200 INDEX, WILSON ASSET MANAGEMENT, FINANCE SECTOR UNION

Nick of time: negotiations stalling reform

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Original article by Darren Davidson
The Australian – Page: 24 : 21-Aug-17

Senator Nick Xenophon remains hopeful that the Federal Government will agree to provide tax breaks for small media companies in return for supporting its cross-media ownership reforms. Communications Minister Mitch Fifield has indicated that it would be inappropriate to extend such tax breaks to foreign-owned publications. The latest stalemate means that the media reform package will not be debated in the Senate for at least another two weeks.

CORPORATES
NICK XENOPHON TEAM, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, PRIVATE MEDIA PARTNERS PTY LTD, SCHWARTZ MEDIA PTY LTD, THE GUARDIAN AUSTRALIA, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, LIBERAL PARTY OF AUSTRALIA, HIGH COURT OF AUSTRALIA

Tax break idea worthy, but unworkable

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Original article by David Crowe
The Australian – Page: 4 : 17-Aug-17

Senator Nick Xenophon’s proposal to provide a 40 per cent tax break for smaller media companies has merit, and it is likely to benefit the publishers of newspapers such as "The Saturday Paper" and websites like "The New Daily". However, the Federal Government would need to determine whether the local editions of overseas publications would be eligible for the tax break. There is also the question of whether taxpayers should subsidise small media outlets that would be competing with the monolithic ABC for both funding and audiences.

CORPORATES
NICK XENOPHON TEAM, AUSTRALIAN BROADCASTING CORPORATION, SCHWARTZ MEDIA PTY LTD, THE NEW DAILY, THE GUARDIAN AUSTRALIA, DAILY MAIL AUSTRALIA, THE HUFFINGTON POST, POLITIFACT AUSTRALIA

Coalition tips Medicare Levy will get over the line

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Original article by David Crowe
The Australian – Page: 1 & 2 : 17-Aug-17

The Federal Government is optimistic that its proposed 0.5 per cent increase in the Medicare levy will be passed by the Senate. The bill will be put before the upper house on 17 August, although a vote is unlikely before September. The increase in the levy is one of 10 bills that were endorsed by the Coalition’s partyroom on 16 August. The Opposition is pushing for the increased levy to be restricted to people whose annual income exceeds $A87,000. The Government hopes to secure the support of crossbenchers.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, NICK XENOPHON TEAM, ONE NATION PARTY, AUSTRALIAN GREENS

Hanson deal on media laws

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Original article by Rosie Lewis, Darren Davidson, Primrose Riordan
The Australian – Page: 1 & 3 : 16-Aug-17

The Federal Government has agreed to a number of concessions to secure One Nation’s support for its cross-media ownership reforms in the Senate. Amongst other things, the ABC and SBS will be required to disclose the salaries of their highest-paid staff, while the ABC Act will be amended to include the requirement that the public broadcaster’s news coverage is "fair and balanced". The support of the Nick Xenophon Team for the media bill will be crucial, given that the Greens have rejected the One Nation reforms.

CORPORATES
ONE NATION PARTY, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), NICK XENOPHON TEAM, AUSTRALIAN GREENS, AUSTRALIAN CONSERVATIVES, LIBERAL DEMOCRATIC PARTY, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FAIRFAX MEDIA LIMITED – ASX FXJ, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, MEDIA, ENTERTAINMENT AND ARTS ALLIANCE

TV networks face slug for local content fund

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Original article by Andrew Tillett
The Australian Financial Review – Page: 6 : 15-Aug-17

The Australian Government is continuing to hold talks with Senate crossbenchers regarding its cross-media reform bill, which is slated to be debated on 15 August. The Greens remain open to negotiation, and the party has proposed that TV networks should be required to contribute to a "local content fund". This was a key recommendation of the Convergence Review in 2012. The Greens’ Sarah Hanson-Young has also advocated an increase in funding for the ABC and SBS, while One Nation wants their funding to be reduced.

CORPORATES
AUSTRALIAN GREENS, ONE NATION PARTY, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NICK XENOPHON TEAM, AUSTRALIAN LABOR PARTY, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Fifield in legislative limbo with crossbench

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Original article by Darren Davidson
The Australian – Page: 24 & 26 : 14-Aug-17

The Federal Government is still holding talks with the Greens and Senate crossbenchers in a bid to secure support for its cross-media ownership reforms. Cory Bernardi, David Leyonhjelm and Derryn Hinch intend to support the bill, although the Government will require the support of another seven crossbenchers. Meanwhile, the Greens have expressed concern about One Nation’s proposal to undertake an expenditure review of the ABC and SBS. The bill is expected to be debated in the upper house in the week beginning 14 August.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN GREENS, ONE NATION PARTY, NICK XENOPHON TEAM, AUSTRALIAN LABOR PARTY, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS)

Slap for exemptions in Labor ‘tax grab’

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Original article by Joe Kelly
The Australian – Page: 5 : 11-Aug-17

The Federal Opposition has been attacked over its plans to exempt farmers from its proposed crackdown on the taxation of discretionary trusts. Labor has claimed that its proposed changes will raise $A17 billion over 10 years. Shadow treasurer Chris Bowen says the exemption of farmers is warranted on the grounds that their income fluctuates. However, Small Business Minister Michael McCormack says the same argument could be made for small business owners, and Labor is not planning to exempt them from its changes.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FINANCE

Hanson’s media bill demands rejected

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Original article by Rosie Lewis
The Australian – Page: 4 : 9-Aug-17

The Australian Government has signalled that it may be open to supporting some of the Senate crossbenchers’ proposed amendments to it cross-media ownership reform bill. These include the Nick Xenophon Team’s push for an inquiry into the growing market power of Google and Facebook and a 40 per cent tax break for smaller news publishers. However, Communications Minister Mitch Fifield is unlikely to support One Nation’s push for the costs of the ABC and SBS to be reviewed.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NICK XENOPHON TEAM, ONE NATION PARTY, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIAN GREENS, GOOGLE INCORPORATED, FACEBOOK INCORPORATED