16/02/2017 - 05:52

Morning Headlines

16/02/2017 - 05:52

Bookmark

Upgrade your subscription to use this feature.
Morning Headlines

Budget crisis puts CGT in play

The Turnbull government is planning a crackdown on capital gains tax concessions for property investors to seize the mantle on housing affordability and provide revenue to help replace soon-to-be dumped budget cuts. The Fin

 

Harrison stole from us, says Stokes

Media billionaire Kerry Stokes accused former executive assistant Amber Harrison of stealing money from Seven West Media, a charge she can’t deny or defend because the company has obtained a court injunction to keep her quiet. The Fin

 

Goyder set to present Scott with $4bn gift

Outgoing Wesfarmers chief executive Richard Goyder could hand successor Rob Scott a parting gift of $4 billion in cash to return to shareholders or spend on acquisitions if the group pushes ahead with plans to sell Officeworks and coal mines. The Fin

 

Xenophon’s levy plan to hit families

Senate powerbroker Nick Xenophon’s call for a lift in the Medicare levy to fill the $7 billion unfunded gap in the National Disability Insurance Scheme would cost families up to $2600 a year in extra taxes. The Aus

 

Turnbull flying into GST storm

West Australian Premier Colin Barnett has blamed his government’s worsening fiscal crisis on the “unfair” federal GST carve-up and says he hopes Malcolm Turnbull — due in Perth within days — will follow through on a promise to reform the system. The Aus

 

Shorten stumbles on cost of push for renewable energy

Bill Shorten has stumbled on energy security by failing to explain how Labor will achieve its goal to produce half the nation’s electricity from renewable power, as his senior colleagues also spread confusion about the plan. The Aus

 

100,000 families to face childcare shock

One in 10 families who use child care, close to 100,000 households, faces crippling childcare costs by June when their $7500 Child Care Rebate runs out. The West

 

Micro-parties spin a web of preference deals

An alliance between microparties and independents could result in the election of a Fluoride Free WA representative in the Upper House from fewer than 1000 votes, electoral analysts believe. The West

 

Private equity buys Craigcare

Investment giant Bain Capital is paying more than $50 million to buy WA aged care provider Craigcare out of family hands, the latest in a string of recent major takeovers in the sector. The West

 

The Australian Financial Review

Page 1: The Turnbull government is planning a crackdown on capital gains tax concessions for property investors to seize the mantle on housing affordability and provide revenue to help replace soon-to-be dumped budget cuts.

The banking regulator’s attempts to cool the Melbourne and Sydney housing markets by imposing speed limits on investor loan growth has forced Commonwealth Bank of Australia to raise interest rates and turn away new property investors.

Media billionaire Kerry Stokes accused former executive assistant Amber Harrison of stealing money from Seven West Media, a charge she can’t deny or defend because the company has obtained a court injunction to keep her quiet.

Page 2: Senior Australia Post managers directed supervisors to not give workers’ compensation forms to staff and divert claims away from the compensation department as part of an apparent strategy to meet targets on injury rates, according to a company email obtained by The Australian Financial Review.

Page 3: The Turnbull government is set to introduce new industrial relations laws that will scrap reviews of employment conditions in awards and boost powers to investigate alleged misconduct of Fair Work Commission members.

Page 6: The May budget is shaping up as a major policy reset point for the Turnbull government, finally dumping the 2014 budget measures that have lurked in the background for almost three years but buying a fresh world of pain of its own making as it aims to balance the budget.

Page 7: Households are readying themselves for higher official interest rates, according to Westpac’s latest survey of consumer sentiment, which also shows a sharp rise in confidence. Households are readying themselves for higher official interest rates, according to Westpac’s latest survey of consumer sentiment, which also shows a sharp rise in confidence.

Page 8: Speculation is rife in Canberra that the federal government might contemplate some form of federal royalty regime, or other changes to resources taxation, as the need to fill a yawning hole in the budget intensifies.

Page 11: The prudential regulator says it will force the boards of the nation’s worst superannuation funds out of the industry unless they improve their performance.

Page 15: Outgoing Wesfarmers chief executive Richard Goyder could hand successor Rob Scott a parting gift of $4 billion in cash to return to shareholders or spend on acquisitions if the group pushes ahead with plans to sell Officeworks and coal mines.

 

The Australian

Page 1: Senate powerbroker Nick Xenophon’s call for a lift in the Medicare levy to fill the $7 billion unfunded gap in the National Disability Insurance Scheme would cost families up to $2600 a year in extra taxes.

Phone records and intercepted calls show members of Donald Trump’s presidential campaign and other Trump associates have had repeated contacts with senior Russian intelligence officials since a year before the US election.

Page 2: West Australian Premier Colin Barnett has blamed his government’s worsening fiscal crisis on the “unfair” federal GST carve-up and says he hopes Malcolm Turnbull — due in Perth within days — will follow through on a promise to reform the system.

Page 3: Clive Palmer has struggled to explain why he funnelled $43 million in a single day from Queensland Nickel’s bank accounts to himself, his Bulgarian father-in-law, two foreign women and companies in his empire.

As incoming head of the nation’s most-watched sporting code, Australian rules football, businessman Richard Goyder has already notched up a few firsts.

Page 4: Billionaire media mogul Kerry Stokes has staunchly defended Seven West Media boss Tim Worner over his involvement in a workplace sex scandal, saying he remained the right man to run the group and denying the company was plagued by governance or cultural problems.

Page 7: The nation’s energy market operator is under pressure to fix its operations after revealing the key failures that triggered blackouts for 90,000 customers last week, during a heatwave that has escalated a political dispute over energy security.

Bill Shorten has stumbled on energy security by failing to explain how Labor will achieve its goal to produce half the nation’s electricity from renewable power, as his senior colleagues also spread confusion about the plan.

Page 8: Poor program implementation and evaluation has plagued the Closing the Gap initiative on reducing indigenous disadvantage almost from the beginning, one of the scheme’s architects says.

Page 19: Commonwealth Bank chief Ian Narev says green shoots are emerging in the economy but that they need careful tendering.

Wesfarmers could sell off its Officeworks chain through a stockmarket listing to realise a top-of-the-market price of $1.5 billion just before US behemoth Amazon is set to enter the Australian market and challenge local retailers.

Primary Health Care has shocked the market with a profit downgrade, forcing a sharp drop in its shares, as outgoing boss Peter Gregg takes aim at former management and the Turnbull government.

One of the world’s biggest independent sources of uranium could fall into Chinese government hands at a knockdown price, with the state-owned giant China National Nuclear Company dangling an axe over Paladin Energy and its $US362 million ($471m) debt restructuring.

 

The West Australian

Page 1: Labor has pledged to reform WA’s parole laws to ensure that serial killers or mass murderers would not be considered for parole.

Page 3: One in 10 families who use child care, close to 100,000 households, faces crippling childcare costs by June when their $7500 Child Care Rebate runs out.

Page 4: Malcolm Turnbull and senior ministers have signalled tax hikes are on the cards in the May Budget as frustration boils over with a recalcitrant Senate refusing to agree to $13 billion of spending cuts.

Page 6: Richard Goyder, the AFL’s next chairman, has spoken about the passion for the game he’s loved since he took his first steps.

Apartment developer Finbar has blamed uncertainty about the City of South Perth’s planning framework for its decision to go back to the drawing board with its 38-storey $380 million Civic Heart development.

Page 9: WA Labor is demanding the Federal Government continue to compensate WA for its shortchanged GST share as signs emerge the State may miss out on extra cash from Canberra.

Page 10: An alliance between microparties and independents could result in the election of a Fluoride Free WA representative in the Upper House from fewer than 1000 votes, electoral analysts believe.

The Liberal Party yesterday committed to $80 million of land and payroll tax cuts it said would put money in the pockets of 11,400 businesses and 20,000 property owners.

Page 11: Labor leader Mark McGowan has been forced to declare there will be no State renewable energy target under his leadership should he become premier.

Page 14: WA’s biggest health insurer is warning that admitting more people into public hospitals as private patients will put more pressure on the government health system.

Page 18: Education has emerged as a key election battleground, with both major parties using the first few weeks of the new school year to roll out significant policy announcements.

Page 21: WA’s runaway take-up of rooftop solar panels is gathering pace, with figures showing a record amount of solar capacity was added to the State’s grids last year.

Page 48: Investment giant Bain Capital is paying more than $50 million to buy WA aged care provider Craigcare out of family hands, the latest in a string of recent major takeovers in the sector.

Wesfarmers chief Richard Goyder has taken his concerns over tax reform to a new level, declaring a looming “economic war” makes Canberra’s policy vacuum a serious threat to Australia’s wellbeing.

Page 49: Loan impairments at Bankwest blew out about 170 per cent in the first half as borrowers felt the pain of the resources boom ending.

Page 50: Building materials maker Boral’s first-half profit has risen 12.3 per cent to $153.4 million, helped by higher construction activity in Australia and improved earnings from its US operations.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options