POLITICAL PARTIES – AUSTRALIA – PLATFORMS

Shorten’s power policy switches

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Original article by Joe Kelly
The Australian – Page: 1 & 6 : 7-Nov-16

Federal Energy Minister Josh Frydenberg says the Australian Labor Party has changed its stance on energy policy more than 10 times over the last decade. He has criticised the Opposition for adopting a policy of sourcing 50 per cent of Australia’s energy supply from renewable sources by 2030 when it had provided owners of coal-fired power stations with millions of dollars worth of taxpayers’ funds when it was in government. Labor had also given some $A268m worth of free carbon permits to the owners of the Hazelwood power station in Victoria.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIAN LABOR PARTY, ENGIE SA, FRONTIER ECONOMICS PTY LTD, VICTORIA. DEPT OF PREMIER AND CABINET

ScoMo takes tax fight to Xenophon

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Original article by Phillip Coorey, Simon Evans
The Australian Financial Review – Page: 1 & 4 : 26-Oct-16

The Australian Government will continue to push for the company tax rate for businesses with turnover of up to $A50m to be reduced to 27.5 per cent. The Government requires the support of the Nick Xenophon Team’s three senators, although the party wants the turnover threshold to be capped at $A10m. Treasurer Scott Morrison will attend a series of meetings and functions with representatives of medium-sized businesses in Senator Nick Xenophon’s home state of South Australia, as part of the Government’s push to gain support for its scaled-back corporate tax reform package.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, NICK XENOPHON TEAM, ONE NATION PARTY, COMMITTEE FOR ADELAIDE, SAGE AUTOMATION LIMITED, BHP BILLITON LIMITED – ASX BHP, GLENCORE AUSTRALIA PTY LTD, GM HOLDEN LIMITED, AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY, BUSINESS COUNCIL OF AUSTRALIA, HAIGH’S CHOCOLATES, KORVEST LIMITED – ASX KOV, CODAN LIMITED – ASX CDA, SOUTH AUSTRALIA. DEPT OF TREASURY AND FINANCE

Hanson to back building watchdog

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Original article by Ean Higgins
The Australian – Page: 4 : 25-Oct-16

One Nation’s caucus will decide whether to support legislation to reinstate the Australian Building & Construction Commission on 7 November 2016. Party leader Pauline Hanson has given indications that One Nation is likely to back the legislation, which has already been passed by the lower house. Hanson says many business owners have expressed concern about the bullying tactics used by unions. Hanson also supports allowing the Adler shotgun to be legally imported.

CORPORATES
ONE NATION PARTY, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, LIBERAL DEMOCRATIC PARTY, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

NXT nixes big business tax cuts

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 7 : 19-Oct-16

The Nick Xenophon Team’s three senators will vote against the Federal Government’s $A48bn package to progressively reduce the company tax rate to 25 per cent over 10 years. The Government requires the support of at least nine of the 11 crossbenchers for its proposal to reduce the tax rate for all companies with turnover of at least $A10m, as the Opposition only favours a tax cut for companies whose turnover is no more than $A2m. Business groups have called for the implementation of the full tax reform package.

CORPORATES
NICK XENOPHON TEAM, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, ESSENTIAL MEDIA COMMUNICATIONS PTY LTD

Diamond days as TV celebrates a jubilee

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Original article by Darren Davidson
The Australian – Page: 5 : 12-Oct-16

Industry executives and on-air presenters have joined politicians in marking the 60th anniversary of TV in Australia at Parliament House in Canberra. The event coincided with a decision by the Australian Labor Party’s caucus to support a proposed 25 per cent reduction in broadcasting licence fees for commercial TV and radio stations. Free TV Australia chairman Harold Mitchell notes that linear TV continues to be an important part of daily family life.

CORPORATES
AUSTRALIAN LABOR PARTY, FREE TV AUSTRALIA LIMITED, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, OZTAM PTY LTD, NETFLIX INCORPORATED

Company tax cuts vital but Senate to resist

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 11-Oct-16

The Australian Government is believed to have conceded that its full corporate tax reform package is unlikely to be supported in the Senate. However, the upper house may pass the first stage of the tax cuts, which will apply to businesses with turnover of no more than $A10m, although the Opposition favours a threshold of $A2m. Treasurer Scott Morrison has argued that the whole tax reform package is necessary to encourage investment in Australia over the long-term.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, RESERVE BANK OF AUSTRALIA, STANDARD AND POOR’S CORPORATION

How hardcore greens trumped unions on RET

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Original article by Graham Lloyd
The Australian – Page: 1 & 2 : 11-Oct-16

The Australian Labor Party has adopted a 50 per cent renewable energy target by 2030 under the influence of militant environmentalists. The party ignored objections from the Construction, Forestry, Mining & Energy Union. The Labor Environmental Action Network devised the target in late 2014. Its aim was to ensure that the party accepts the target as part of its ideology.

CORPORATES
AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CLIMATEWORKS PTY LTD, THE WILDERNESS SOCIETY

Company tax cuts ‘make bracket creep inevitable’

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Original article by David Uren
The Australian – Page: 1 & 4 : 20-Sep-16

The Australian Government is committed to limiting overall tax revenue to 23.9 per cent of GDP. Its plan to progressively reduce the company tax rate over 10 years is intended to have no impact on overall tax revenue. As a result, the lower company tax revenue will have to be offset by higher revenue from other taxes. The Grattan Institute warns that this most likely will mean an increase in income tax revenue, which CEO John Daley notes is the only source of tax revenue that increases as a percentage of GDP.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, GRATTAN INSTITUTE, AUSTRALIAN NATIONAL UNIVERSITY, AUSTRALIAN LABOR PARTY

Super done, next task is growth

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 16-Sep-16

Federal Treasurer Scott Morrison will use a speech on 16 September 2016 to call for structural economic reforms. He will argue that action is needed to boost the earnings of the nation, individuals and businesses, citing the environment of low inflation, interest rates, wages growth and economic growth. Meanwhile, Morrison has urged the Opposition to support superannuation reforms after the Coalition agreed to abandon its proposed lifetime cap on non-concessional contributions. This had been a key sticking point for the Australian Labor Party.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA

Company tax cuts to be scaled back

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Original article by David Crowe
The Australian – Page: 1 & 2 : 15-Sep-16

The Australian Government plans to introduce legislation in the lower house to implement its full 10-year plan to reduce the company tax rate for all businesses. However, it is preparing to prioritise tax cuts for small businesses when the legislation is debated in the Senate, due to expectations that the full policy will be rejected by the upper house. The Government plans to reduce the tax rate for businesses with annual turnover of up to $A10m to 27.5 per cent, although the Opposition favours a turnover threshold of just $A2m.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, BUSINESS COUNCIL OF AUSTRALIA, NICK XENOPHON TEAM, ONE NATION PARTY