POLITICAL PARTIES – AUSTRALIA – PLATFORMS

PM’s focus budget and IR

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Original article by Phillip Coorey, Laura Tingle
The Australian Financial Review – Page: 1 & 2 : 15-Sep-16

Prime Minister Malcolm Turnbull has identified the Federal Government’s key legislative priorities for the remainder of 2016. They include industrial relations reform, corporate tax cuts, superannuation tax reform and changes to competition law. Turnbull says he is "quietly confident" that the Senate will pass bills to reinstate the Australian Building & Construction Commission and establish the Registered Organisations Commission, and he may be open to compromise deals in order to ensure their passage.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, REGISTERED ORGANISATIONS COMMISSION, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE TREASURY

Dole compromise to win budget deal

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 13-Sep-16

The Australian Government has backed down on a key measure in its "omnibus bill" to secure the Opposition’s support for the majority of its cost-saving initiatives. The Government is believed to have agreed to abandon its proposal to cease compensating welfare recipients for the impact of the carbon tax. Some Family Tax Benefit payments are also expected to be reduced as part of the compromise deal. Meanwhile, Prime Minister Malcolm Turnbull has noted in Parliament that the unemployed rate has fallen from 6.3 per cent to 5.7 per cent in the 12 months since he ousted Tony Abbott.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF THE TREASURY, LIBERAL PARTY OF AUSTRALIA, RESERVE BANK OF AUSTRALIA, BUSINESS COUNCIL OF AUSTRALIA, GROUP OF TWENTY (G-20)

70pc slugged by combined super, pension changes

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Original article by Glenda Korporaal
The Australian – Page: 2 : 13-Sep-16

The Australian Government has produced a briefing paper which shows that low-income earners stand to gain the most from proposed changes to the pension assets test and the superannuation tax regime. The paper shows that the reforms, which are slated to take effect in 2017, will adversely affect everybody except those on the lowest 30 per cent of incomes. Meanwhile, a report produced on behalf of the Institute of Public Affairs concludes that the Government’s super tax reforms will hit middle-income earners in particular.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, INSTITUTE OF PUBLIC AFFAIRS LIMITED

Super cuts ‘will leave people poorer’

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Original article by Sarah Martin
The Australian – Page: 4 : 12-Sep-16

The Institute of Public Affairs warns that the Australian Government’s proposed superannuation tax reforms will adversely affect the retirement income of the people it targets. Simon Breheny of the IPA says the reforms will slash the retirement income of middle-income earners to about 58 per cent of their pre-retirement earnings. In contrast, he notes that people on low incomes can expect to receive almost 90 per cent of their pre-retirement income. Breheny argues that the Government should provide super tax relief for people on middle incomes.

CORPORATES
INSTITUTE OF PUBLIC AFFAIRS LIMITED, AUSTRALIA. DEPT OF THE TREASURY, LIBERAL PARTY OF AUSTRALIA

Howard urges PM on tax, IR reform

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Original article by Jacob Greber
The Australian Financial Review – Page: 6 : 12-Sep-16

Ex-prime minister John Howard believes that Malcolm Turnbull can successfully lead the Coalition to the next federal election, but stresses that he must have a united team. Howard has also identified industrial relations and tax reform as policies that the Federal Government must pursue, although Turnbull says both issues are on the legislative agenda. Meanwhile, Treasurer Scott Morrison says the government has had "constructive" talks with the Opposition regarding Budget savings measures.

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

Hanson offers hope for ABCC bill

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Original article by Sarah Martin
The Australian – Page: 1 & 4 : 30-Aug-16

Incoming senator Pauline Hanson will consult with both sides of politics before deciding her stance on the Australian Building & Construction Commission. However, Hanson has indicated that she opposes "union thuggery" and says small contractors and subcontractors must be protected from such union practices. Hanson is yet to decide her position on proposed company tax cuts, but warns of the risk that companies may relocate to countries with lower tax rates unless the tax burden is reduced.

CORPORATES
ONE NATION PARTY, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Government faces delay on ‘urgent’ cuts

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Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 30-Aug-16

The Australian Government will introduce 26 separate bills to Parliament in coming days, although its "omnibus" and superanuation reform bills will be delayed. The Australian Labor Party was not given a copy of the omnibus bill at its caucus meeting on 29 August 2016, while some Labor MPs oppose several of the proposed measures to reduce government spending. Meanwhile, the Government is yet to reach consensus within its own ranks regarding the lifetime cap on non-concessional super contributions.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, COUNCIL ON THE AGEING, AUSTRALIAN GREENS, AUSTRALIAN RENEWABLE ENERGY AGENCY, VICTORIA. COUNTRY FIRE AUTHORITY, UNITED FIREFIGHTERS’ UNION OF AUSTRALIA, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Gay marriage vote is left at the altar

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 30-Aug-16

The Australian Government will not have sufficient numbers in the Senate to pass its enabling legislation for a plebiscite on same-sex marriage, after Derryn Hinch and the Nick Xenophon Team decided to vote against it. The Australian Labor Party and the Greens had already committed to rejecting the legislation, and favour a direct vote by Parliament on the issue rather than a plebiscite. The legalisation of same-sex marriage is now unlikely to be on the political agenda again until after the next federal election.

CORPORATES
NICK XENOPHON TEAM, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN MARRIAGE EQUALITY INCORPORATED, AUSTRALIA. DEPT OF EDUCATION AND TRAINING, LIBERAL DEMOCRATIC PARTY

PM’s new super obstacle

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Original article by David Crowe
The Australian – Page: 1 & 4 : 25-Aug-16

Opposition Leader Bill Shorten has signalled that the Australian Labor Party is prepared to support proposed superannuation reforms if the Federal Government agrees to further compromises. Labor wants the lifetime cap on non-concessional contributions to apply from 2016 rather than 2007. It will also push for the threshold for an increase in the contributions tax to be reduced to $A200,000 rather than $A250,000 as proposed by the Government. At present, people earning at least $A300,000 a year pay a contributions tax of 30 per cent instead of 15 per cent.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN GREENS, GRATTAN INSTITUTE

Super contributions slump after reforms unveiled

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Original article by Michael Roddan
The Australian – Page: 6 : 24-Aug-16

Data from the Australian Prudential Regulation Authority shows that personal contributions to superannuation funds fell by 11.3 per cent, or $A811m, in the June 2016 quarter. The Association of Superannuation Funds of Australia’s acting CEO Jim Minto says the figures could indicate that confidence in the super system has been undermined by the uncertainty surrounding the Federal Government’s proposed super reforms.

CORPORATES
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, FINANCIAL SERVICES COUNCIL, AMP LIMITED – ASX AMP, AUSTRALIA. DEPT OF THE TREASURY, LIBERAL PARTY OF AUSTRALIA