POLITICAL PARTIES – AUSTRALIA – PLATFORMS

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

Cabinet digs in as PM backflips on CGT

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 24-Feb-16

Prime Minister Malcolm Turnbull has told Parliament that changes to the 33 per cent capital gains tax discount on the sale of superannuation funds’ assets may be part of the Federal Government’s tax reform agenda. He had previously given indications that CGT reforms had been ruled out, but claims that he was specifically referring to the Opposition’s CGT proposals. Meanwhile, cabinet ministers have agreed to wait until the May 2016 Budget to announce the Coalition’s tax policies.

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

Turnbull: no change to capital gains tax

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Original article by Sid Maher
The Australian – Page: 1 & 4 : 23-Feb-16

The Australian Government’s options for tax reform have become more limited after Prime Minister Malcolm Turnbull told Parliament that changes to the capital gains tax regime are not on its agenda. Turnbull warned that the Opposition’s proposed capital gains tax reforms will deter investment in Australia, while its policy on negative gearing would adversely affect house prices. Changes to superannuation tax concessions and tax deductions for work-related expenses are among the few tax reform options that are still available to the Government.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF FINANCE, BUSINESS COUNCIL OF AUSTRALIA, BLUESCOPE STEEL LIMITED – ASX BSL, PROPERTY COUNCIL OF AUSTRALIA LIMITED, AUSTRALIAN NATIONAL UNIVERSITY, AUSTRALIA. DEPT OF THE TREASURY, NEWSPOLL

Coalition has ‘failed’ to deliver on workplace policy promises

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Original article by James Massola
The Age – Page: 4 : 18-Feb-16

The Australian Government has made just four changes to industrial relations laws since taking office in September 2013. However, it has failed to make much progress on most of the 14 election policy commitments it made regarding industrial relations. Key policies such as reinstating the Australian Building & Construction Commission and changes to union right of entry laws have been stalled in the Senate.

CORPORATES
AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. ROAD SAFETY REMUNERATION TRIBUNAL, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. DEPT OF EMPLOYMENT

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