POLITICAL PARTIES – AUSTRALIA – PLATFORMS

Labor eyes tax hit on top earners

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Original article by David Crowe
The Australian – Page: 1 & 4 : 21-Apr-16

The Australian Government has ruled out extending the Budget deficit levy on high-income earners beyond 30 June 2017. However, the Opposition may consider retaining the levy on individuals whose annual taxable income exceeds $A180,000 if it wins the 2016 federal election. The levy is estimated to have raised about $A1.2bn each year since it was announced in the May 2014 Budget. Australian Greens Leader Richard Di ­Natale says the deficit levy should be permanent rather than temporary.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIAN TAXATION OFFICE, LIBERAL PARTY OF AUSTRALIA

Shorten teeters on truckie pay ruling

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Original article by Joe Kelly
The Australian – Page: 6 : 12-Apr-16

Opposition Leader Bill Shorten says he is willing to negotiate with the Australian Government regarding the introduction of new pay rates for owner-drivers in the trucking industry. The Government still wants to abolish the Road Safety Remuneration Tribunal, but it will opt to for legislation to defer the introduction of revised pay rates and take further action after the federal election. However, Shorten opposes abolishing the RSRT, which was established by the Australian Labor Party in 2012.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. ROAD SAFETY REMUNERATION TRIBUNAL, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, HIGH COURT OF AUSTRALIA, TRANSPORT WORKERS’ UNION, NATIONAL PARTY OF AUSTRALIA

Labor bars banks’ super-profits tax

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Original article by Rosie Lewis
The Australian – Page: 4 : 11-Apr-16

Australians Greens MP Adam Bandt has told Sky News that the nation’s largest banks should be subject to a new tax. He argues that the major banks can access the wholesale funding market at much lower rates than smaller rivals as the Federal Government will provide bailouts in the event of financial problems. However, Opposition Treasury spokesman Chris Bowen says the Australian Labor Party will not introduce a "super-profits" tax on banks.

CORPORATES
AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA. DEPT OF THE TREASURY

Old power stations under fire in ALP’s climate change plan

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Original article by Sid Maher
The Australian – Page: 1 & 4 : 11-Apr-16

The Federal Opposition is developing a new climate change policy whose aims will include generating of 50 per cent of Australia’s energy via renewable sources by 2030. The policy is also believed to include measures to decommission coal-fired power stations, the progressive reintroduction of an emissions trading scheme and an inquiry into the nation’s electric power industry. However, the Opposition has ruled out a carbon tax.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. CLIMATE CHANGE AUTHORITY, PITT AND SHERRY CONSULTING ENGINEERS, GRATTAN INSTITUTE

Libs push case for cuts, Shorten targeted on tax

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Original article by David Crowe, Paige Taylor
The Australian – Page: 4 : 5-Apr-16

Treasurer Scott Morrison has warned that any spending promise made by the Opposition in the lead-up to the federal election will be funded via tax increases. Morrison has stressed that the Federal Government aims to reduce taxes, and highlighted the need for businesses to receive tax relief in order to create jobs and stimulate the economy. Meanwhile, the Australian Labor Party proposes to increase government revenue by $A105bn over 10 years via a series of tax reform measures.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY

Voters missing full picture on ABCC

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Original article by Ewin Hannan
The Australian Financial Review – Page: 8 : 24-Mar-16

Voters are confused about the Federal Government’s plans to reinstate the Australian Building & Construction Commission. The Australian Labor Party opposes the creation of the ABCC, whose role would be limited to monitoring one industry sector. Yet when Labor was in power, former prime minister Julia Gillard argued at the ACTU Congress in Brisbane in 2009 that such a body was necessary. Her government subsequently established the Fair Work Building & Construction inspectorate.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIAN LABOR PARTY, FAIR WORK BUILDING AND CONSTRUCTION, AUSTRALIA. OFFICE OF THE FAIR WORK BUILDING INDUSTRY INSPECTORATE, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, ACTU, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. PRODUCTIVITY COMMISSION

Shorten makes his pitch on tax take

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Original article by David Crowe, Sarah Martin
The Australian – Page: 4 : 16-Mar-16

Federal Opposition Leader Bill Shorten has told the National Press Club that superannuation and negative gearing tax concessions should be reduced, with the savings redirected to areas where more spending is needed. Shorten also stressed the Australian Labor Party’s commitment to achieving full employment, which he defines as a jobless rate of five per cent. Labor will release a report on issues such as social services reform, inequality and unemployment on 16 March 2016.

CORPORATES
AUSTRALIAN LABOR PARTY, NATIONAL PRESS CLUB (AUSTRALIA), AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

Shorten to promise full employment

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Original article by Laura Tingle
The Australian Financial Review – Page: 4 : 15-Mar-16

A commitment to achieving full employment will be part of the Australian Labor Party’s 2016 federal election platform. Opposition Leader Bill Shorten will address the National Press Club on 16 March, where he will highlight issues such as job security, wage fairness, under-employment and the high jobless rate in some parts of Australia. He will also criticise Prime Minister Malcolm Turnbull’s lack of leadership in addressing issues facing the nation.

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

Labor’s crackdown on negative gearing ‘a threat to small business’

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Original article by David Uren
The Australian – Page: 1 & 6 : 7-Mar-16

CPA Australia’s senior tax counsel Paul Drum has warned that the Federal Opposition’s proposed changes to the negative gearing regime could adversely affect small business owners, particularly sole proprietors. The Australian Labor Party proposes to restrict negative gearing to new properties if it wins the 2016 federal election, but shadow treasurer Chris Bowen rejects suggestions that the reforms would affect business financing.

CORPORATES
CPA AUSTRALIA, AUSTRALIAN LABOR PARTY, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, RESERVE BANK OF AUSTRALIA, NSW BUSINESS CHAMBER LIMITED, CRYSTAL WEALTH PARTNERS LIMITED, OMNIWEALTH PTY LTD

Wrong way to do tax: key adviser

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Original article by Joanna Mather, Phillip Coorey
The Australian Financial Review – Page: 1 & 8 : 4-Mar-16

More resources should be allocated to the bodies engaged in the tax reform process, says Board of Taxation chairman Michael Andrews. He told a tax conference in Melbourne on 3 March 2016 that the debate about tax is highly politicised, which is regrettable. The timing of the debate is not auspicious because people are distracted by political considerations during an election year.

CORPORATES
AUSTRALIA. BOARD OF TAXATION, BIS SHRAPNEL PTY LTD, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, KPMG AUSTRALIA PTY LTD