POLITICAL PARTIES – AUSTRALIA – PLATFORMS

Liberal MPs wary on negative gearing

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

Discussions about negative gearing have a political aspect. Both the Coalition and the Opposition want to impose restrictions in this area despite resistance from investors. The Australian Labor Party has proposed limiting negative gearing to new homes, while Treasurer Scott Morrison favours limits on the number of negatively geared properties or a cap on annual tax deductions. Coalition MPs are worried about a backlash from voters.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, PROPERTY COUNCIL OF AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Labor cigs tax plan a ‘budget risk’

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 4 : 2-Feb-16

Professor Sinclair Davidson of RMIT University is among experts who have questioned the Federal Opposition’s proposal to fund services such as education via a sharp rise in the tax on tobacco products. He notes that fewer people are smoking, and he adds that raising the cost of cigarettes too much could reduce tax revenue as more people opt for illegal tobacco. Grattan Institute CEO John Daley has also expressed doubts that increasing tobacco excise would generate sufficient revenue to pay for services whose cost is rising faster than GDP.

CORPORATES
AUSTRALIAN LABOR PARTY, RMIT UNIVERSITY, GRATTAN INSTITUTE, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, INDUSTRY SUPER AUSTRALIA PTY LTD, LIBERAL PARTY OF AUSTRALIA

Morrison flags taking IR reform as election issue

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 17-Dec-15

Changes must be made to the industrial relations (IR) regime to ensure economic growth in Australia. Treasurer Scott Morrison signalled on 16 December 2015 that workplace relations reform could become an election issue. The end of the mining boom makes it necessary to make adjustments in both tax and IR policies.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. PRODUCTIVITY COMMISSION, LIBERAL PARTY OF AUSTRALIA, MOODY’S ANALYTICS AUSTRALIA PTY LTD, FITCH AUSTRALIA PTY LTD

Rinehart to Labor: follow Malcolm’s lead and ditch carbon tax

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Original article by Perry Williams
The Age – Page: 25 : 4-Dec-15

The Australian Labor Party’s 2016 federal election platform will include an emissions trading scheme. However, mining magnate Gina Rinehart has urged the Opposition to commit to not introducing a carbon tax, arguing that governments should not be imposing any taxes on companies that reduce their ability to compete internationally. Rinehart has also noted the dearth of major greenfield mining projects in Australia following the start of production at her Roy Hill iron ore project.

CORPORATES
AUSTRALIAN LABOR PARTY, ROY HILL IRON ORE PTY LTD, HANCOCK PROSPECTING PTY LTD, POSCHELK DENTAL SURGERIES, MARUBENI CORPORATION, CHINA STEEL CORPORATION, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, LIBERAL PARTY OF AUSTRALIA

Labor’s 45pc emissions cut would need $200 carbon price

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 12 : 2-Dec-15

The Australian Government aims to reduce greenhouse gas emissions by 26-28 per cent by 2030 under its Direct Action policy. In contrast, the Opposition has set a target of a 45 per cent reduction in carbon emissions by 2030. However, economist Warwick McKibbin has cautioned against placing too much emphasis on the use of international carbon permits to achieve these targets, as it is difficult to forecast the cost of such permits by 2030.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT

Get ready for cigarettes at $40 a pack

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Original article by Jacob Greber
The Australian Financial Review – Page: 6 : 24-Nov-15

The Australian Labor Party will raise the excise rate for cigarettes by 12.5 per cent for four years from mid-2017 if it wins the next federal election. The rise in excise of this magnitude would result in cigarettes costing more than $A40 a pack. Some experts stress the fact that smoking is more prevalent among lower-income households than wealthier households and, therefore, the proposed policy would make poor people even poorer.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, WORLD TRADE ORGANIZATION, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, CANCER COUNCIL OF AUSTRALIA

Rich could pay 27pc super tax

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Original article by Phillip Coorey, Jennifer Hewett
The Australian Financial Review – Page: 1 & 2 : 11-Nov-15

Most Australians’ contributions to their superannuation funds are taxed at 15 per cent at present. The tax reform options being examined by the Federal Government include a proposal to tax super contributions at 20 percentage points below a taxpayer’s marginal income tax rate. Treasurer Scott Morrison has indicated that the Government’s focus is on taxing super at the accumulation phase. In contrast, the Opposition’s policy is centred on taxing super upon retirement.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, DELOITTE ACCESS ECONOMICS PTY LTD

Shorten locks in penalty rates as key election issue

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Original article by Misa Han
The Australian Financial Review – Page: 9 : 6-Oct-15

Federal Opposition Leader Bill Shorten has refuted suggestions that penalty rates contribute to unemployment in Australia. He has vowed to make penalty rates a major issue for the next federal election, after Workplace Relations Minister Michaelia Cash indicated that the Federal Government is likely to use the election to seek a mandate for changes to penalty rates and the industrial relations regime.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIA. DEPT OF FINANCE, LIBERAL PARTY OF AUSTRALIA

Commission exposes deals unions and bosses want to hide

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Original article by Grace Collier
The Australian – Page: 20 : 22-Aug-15

The Royal Commission into Trade Union Governance & Corruption has revealed that unions and companies act in collusion to extract money from workers. The unions and the Australian Labor Party (ALP) are trying to shut down the commission because they want to protect their financial interests. The Coalition could use the findings of the commission to portray the ALP as the party whose interests are not necessarily aligned with those of workers. Voters would no doubt support a political platform of eradicating business-union deals.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO TRADE UNION GOVERNANCE AND CORRUPTION, AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION

Gay marriage rocks PM

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Original article by Phillip Coorey, Laura Tingle
The Australian Financial Review – Page: 1&8 : 12-Aug-15

A special meeting of Coalition MPs and senators, held on 11 August 2015, was devoted to the divisive issue of gay marriage. The proposal to introduce same-sex marriage through legislative changes was defeated by 66 votes to 33. Prime Minster Tony Abbott said the issue will be considered again in the next term of Parliament. His preferred option is a referendum which would allow the public to decide on gay marriage.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF COMMUNICATIONS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA