Morning Headlines

Wyatt open to green fund

Energy Minister Ben Wyatt has set the scene for a potential stoush with private sector power providers after declaring he had an “open mind” about a proposed green energy fund by Synergy. The West

Woodside well leaked for nearly two months

A subsea oil well that leaked for up to two months off the Pilbara coast last year but was not disclosed until this week belonged to the Woodside Petroleum-operated North West Shelf project. The West

ATO deputy snared in tax fraud

Police investigating a $165 million tax fraud syndicate suspected Australian Taxation Office deputy commissioner Michael Cranston of conspiring with his 30-year-old son to ‘‘defraud the Commonwealth,’’ according to police search warrants. The Fin

BHP meets Elliott as shale push grows

BHP Billiton chief executive Andrew Mackenzie came face to face with representatives of Elliott Associates in Barcelona late on Wednesday, as calls for change to the company’s petroleum division grew louder. The Fin

Business nominates top jobs for 457 review

Corporate heavyweights and key industry groups have agreed on the top jobs they want removed from the banned 457 visa list, in a rapid-fire consultation at the request of the Turnbull government before a partial backdown expected on July 1. The Fin

Albanese exposes Labor rift

Anthony Albanese has undermined the authority of Bill Shorten for the second time in two weeks, labelling the Turnbull government’s budget a victory for the ALP in a speech that has reignited Labor leadership speculation. The Aus

Immigration, Defence, ABC among clients

Government departments were among the major employers using the payroll company at the centre of the alleged $165m Plutus tax scam, which as recently as two weeks ago claimed it was “completely and strictly tax compliant”. The Aus

Tax rules mean levy won’t raise $6.2bn

The government’s new bank levy will raise far less than the forecast $6.2 billion if lenders pass on the costs through higher interest rates to property investors, thanks to negative gearing rules that allow interest charges to be claimed back through the tax system. The Aus

Welfare crackdown could hit pensions

Tens of thousands of seniors are likely to be hit with new queries over their pension payments as the Federal Government looks to slash $980 million from its budget through the expansion of the controversial robo-debt system. The West

The Australian Financial Review

Page 1: Police investigating a $165 million tax fraud syndicate suspected Australian Taxation Office deputy commissioner Michael Cranston of conspiring with his 30-year-old son to ‘‘defraud the Commonwealth,’’ according to police search warrants.

Multiple political crises in the White House have forced complacent traders around the world to confront the possibility that US President Donald Trump may fail to translate his market boosting policies into law.

Page 2: Employment growth has matched the fastest start to a calendar year since 2008, raising a glimmer of hope that unemployment will begin trending lower this year.

Page 3: At least one major bank believes Treasury has miscalculated the new levy on banks and says it will not raise the $1.5 billion a year as forecast in last week’s budget.

Page 6: Corporate heavyweights and key industry groups have agreed on the top jobs they want removed from the banned 457 visa list, in a rapid-fire consultation at the request of the Turnbull government before a partial backdown expected on July 1.

Page 11: The battle for the future of Fairfax Media has turned into a private equity head-to-head involving two of the world’s best-regarded private equity firms. Within minutes of the bid being made on Thursday morning, questions were raised about San Francisco-based Hellman & Friedman’s credibility and real commitment to the offer.

Page 15: BHP Billiton chief executive Andrew Mackenzie came face to face with representatives of Elliott Associates in Barcelona late on Wednesday, as calls for change to the company’s petroleum division grew louder.

Page 17: Wesfarmers has all but ruled out carving off Officeworks through an inspecie distribution but may have another go at floating the office products retailer when market and retail conditions improve.

The Australian

Page 1: More than 50 lawnmowing and garden-maintenance companies have signed up as providers to the $22 billion National Disability Insurance Scheme, to service clients including the parents of children with autism.

Page 2: Anthony Albanese has undermined the authority of Bill Shorten for the second time in two weeks, labelling the Turnbull government’s budget a victory for the ALP in a speech that has reignited Labor leadership speculation.

Page 4: The unemployment rate has dropped back to 5.7 per cent as a surge in employment since January reversed what had been a worrying climb in the jobless rate through the latter half of last year.

Page 6: Government departments were among the major employers using the payroll company at the centre of the alleged $165m Plutus tax scam, which as recently as two weeks ago claimed it was “completely and strictly tax compliant”.

Page 19: TPG Capital will today vow to protect editorial independence at Fairfax Media after its takeover proposal was trumped by Hellman & Friedman’s $2.87 billion bid, setting off a takeover battle that will pit two of the world’s largest private equity players against each other.

The government’s new bank levy will raise far less than the forecast $6.2 billion if lenders pass on the costs through higher interest rates to property investors, thanks to negative gearing rules that allow interest charges to be claimed back through the tax system.

Page 20: The pipeline of coalmining assets heading to the market appears to be growing, with global commodities trader Glencore hiring Standard Chartered to sell its stake in the Port Kembla coal terminal and its Tahmoor coking coalmine near Wollongong.

The West Australian

Page 1: The massive investigation of an alleged $165 million rort that has ensnared a major tax boss and two of his children has also roped in other high-ranking government officials.

Page 3: Tens of thousands of seniors are likely to be hit with new queries over their pension payments as the Federal Government looks to slash $980 million from its budget through the expansion of the controversial robo-debt system.

Page 10: The McGowan Government will “breach a solemn promise” if it goes ahead with a new tax on homeowners to raise millions of dollars, Opposition Leader Mike Nahan says.

Former premier Colin Barnett has declared the same “preconditions” exist for another WA Inc and hinted at extending his political career.

Page 14: The head of a Perth boys’ college hopes to encourage more citybased families to send their sons to boarding school.

Page 16: WA’s jobs market has enjoyed its best start to a year since the peak of the mining boom in a sign the local economy is starting to strengthen.

Page 72: Energy Minister Ben Wyatt has set the scene for a potential stoush with private sector power providers after declaring he had an “open mind” about a proposed green energy fund by Synergy.

Hungry Jacks owner Jack Cowin has described Sunday penalty rates as a thing of the past unsuited to contemporary lifestyles.

Page 73: A subsea oil well that leaked for up to two months off the Pilbara coast last year but was not disclosed until this week belonged to the Woodside Petroleum-operated North West Shelf project.