Budget hit to corporate tax breaks
The Gillard government's budget on May 14 will crack down on business tax breaks, including the “thin capitalisation” rules and exploration tax concessions for resources companies, depicting the changes as plugging holes in the corporate tax system rather than cash grabs to reduce the deficit. The Fin
Higher Medicare levy no matter who wins
Taxpayers will be hit with a higher Medicare levy from July next year irrespective of who wins the federal election after Tony Abbott backed the 0.5 percentage point increase to fund the National Disability Insurance Scheme. The West
TWU pushes tougher 457 rules
The union led by ALP vice-president Tony Sheldon is pushing the government for a further crackdown on 457 visas, including a ban on companies that have retrenched workers, sparking new business warnings the nation's reputation is in danger from dog-whistling politics. The Aus
Alcoa plans more cutbacks
Alcoa has sent a fresh wave of nervousness through its 2800-strong WA workforce after announcing it could close more of its global aluminium operations because of the metal's continued price decline. The West
WA's banker sees scope for ratings upgrade
Concerns about iron ore prices which led to WA's cherished AAA rating being placed on negative outlook are overdone, says the state's top banker, but any upgrade to the black mark will likely have to wait until after the August 8 budget. The West
Top Resources Headlines
Alcoa plans more cutbacks
Alcoa has sent a fresh wave of nervousness through its 2800-strong WA workforce after announcing it could close more of its global aluminium operations because of the metal's continued price decline. The West
WA's banker sees scope for ratings upgrade
Concerns about iron ore prices which led to WA's cherished AAA rating being placed on negative outlook are overdone, says the state's top banker, but any upgrade to the black mark will likely have to wait until after the August 8 budget. The West
$5bn coal export terminal shelved
A coal export terminal worth $5 billion in NSW that would have created 1500 jobs has been put on hold after Hunter Valley coal producers pushed to reduce contract tonnages as market conditions put future mine expansion plans in doubt. The Aus
Doubt on Shell as key boss calls time
Days after Royal Dutch Shell's Australian boss Ann Pickard announced she was quitting her Perth-based role, the Shell group chief executive who has championed Ms Pickard's aggressive push into the Australian upstream business has announced his retirement. The West
Top Politics Headlines
Budget hit to corporate tax breaks
The Gillard government's budget on May 14 will crack down on business tax breaks, including the “thin capitalisation” rules and exploration tax concessions for resources companies, depicting the changes as plugging holes in the corporate tax system rather than cash grabs to reduce the deficit. The Fin
TWU pushes tougher 457 rules
The union led by ALP vice-president Tony Sheldon is pushing the government for a further crackdown on 457 visas, including a ban on companies that have retrenched workers, sparking new business warnings the nation's reputation is in danger from dog-whistling politics. The Aus
Higher Medicare levy no matter who wins
Taxpayers will be hit with a higher Medicare levy from July next year irrespective of who wins the federal election after Tony Abbott backed the 0.5 percentage point increase to fund the National Disability Insurance Scheme. The West
Unions, firms allied over NBN 'disaster'
WA telecommunications union boss John O'Donnell admits teaming up with more than 100 small operators handling the NBN rollout is an unusual alliance. The Aus
Top Property Headlines
Building dip lifts RBA rate cut prospects
The Reserve Bank may have to deliver an emergency interest rate cut as early as next week, with signs the property sector is starting to falter. The West
The West Australian
Page 4: Taxpayers will be hit with a higher Medicare levy from July next year irrespective of who wins the federal election after Tony Abbott backed the 0.5 percentage point increase to fund the National Disability Insurance Scheme.
Page 7: Police have vowed to track down Perth graffiti vandals who are using social media to post photos of their work and discuss target locations across the city.
Page 10: Showers and moderate winds at Perth Airport caused major disruptions to inbound flights yesterday, with some services from fly-in, fly-out airports delayed 90 minutes.
Page 13: Emergency services volunteers have hit out at the union representing career firefighters for a “vicious and unnecessary attack” in its latest magazine.
Page 17: The Reserve Bank may have to deliver an emergency interest rate cut as early as next week, with signs the property sector is starting to falter.
Business: Alcoa has sent a fresh wave of nervousness through its 2800-strong WA workforce after announcing it could close more of its global aluminium operations because of the metal's continued price decline.
Days after Royal Dutch Shell's Australian boss Ann Pickard announced she was quitting her Perth-based role, the Shell group chief executive who has championed Ms Pickard's aggressive push into the Australian upstream business has announced his retirement.
South Korea's ambassador to Australia, Cho Tae-yong, is believed to have travelled to Perth this week to oversee the signing of Samsung C&T's $US5.8 billion construction deal with Gina Rinehart's Roy Hill Holdings, underscoring the importance of the proejcet to one of South Korea's most important conglomerates.
British group Bunzl has bought the heart of Jeminex, the private equity-backed industrial group founded on a string of WA acquisitions before the global financial crisis.
Concerns about iron ore prices which led to WA's cherished AAA rating being placed on negative outlook are overdone, says the state's top banker, but any upgrade to the black mark will likely have to wait until after the August 8 budget.
Seven West Media has bolstered the credentials of its board with the surprise appointment of former newspaper editor and Nine Network boss John Alexander.
Ports and rail operator Asciano has surprised the market by slashing about $250 million in spending and rushing in job cuts in a worrying sign for the Australian economy.
The Australian Financial Review
Page 1: The Gillard government's budget on May 14 will crack down on business tax breaks, including the “thin capitalisation” rules and exploration tax concessions for resources companies, depicting the changes as plugging holes in the corporate tax system rather than cash grabs to reduce the deficit.
Leading directors backed up Myer chief executive Bernie Brookes' concerns about the tax increase that will pay for universal disability care and warned it would place more pressure on the stretched federal budget.
Page 3: A former employee of the Transport Workers Union claims the federal government's Road Safety Remuneration Tribunal, designed to boost pay rates for drivers, will not improve safety on roads and is economic re-regulation.
Page 7: Plugging gaps in tax law and overhauling international tax treaties to capture digital sales are among options Treasury is considering to crack down on complex tax minimisation schemes adopted by multinational companies.
Australian companies are sitting on potential energy savings of $3.4 billion but are unlikely to act on about a third of them despite high power prices.
Page 8: A debate over the details of the national disability insurance scheme is set to erupt but it will not affect the passage of legislation for a tax increase to help fund the scheme before the September 14 federal election.
Page 10: The West Australian government is resisting centralised control of disability services, arguing its own system provides as good a service as the National Disability Insurance Scheme.
Page 12: Momentum is building for a possible pre-budget interest rate cut by the Reserve Bank of Australia next week after faltering building industry figures added to a flurry of evidence the economy may be weakening.
Page 15: The opposition has cast doubt over a new Treasury projection for the price of carbon when Australia links to the European scheme, saying it is still too high and obscures a much larger revenue shortfall.
Page 16: Employers who have retrenched workers in the past 12 months should be prevented by law from employing a foreign worker on a 457 temporary work visa for at least 12 months, the Transport Workers Union says.
Page 20: John Alexander has made a surprise return to media by becoming a non-executive director of Seven West Media, finally ending speculation the former Consolidated Media Holdings executive chairman would join the board of Fairfax Australia.
The Australian
Page 1: Tony Abbott is set to pass Julia Gillard's $3.3 billion increase in the Medicare levy to partially fund the National Disability Insurance Scheme, despite deep misgivings within the coalition about the potential for its cost to explode in the next decade.
Page 2: The union led by ALP vice-president Tony Sheldon is pushing the government for a further crackdown on 457 visas, including a ban on companies that have retrenched workers, sparking new business warnings the nation's reputation is in danger from dog-whistling politics.
Page 3: The wife of ACT Greens Senate candidate Simon Sheikh will be investigated by the Australian National University in the wake of two controversial appearances by her husband on campus on Thursday.
World: As a knife-edge vote looms in Sunday's Malaysian elections, analysts and reform activists warn the result could be decided by government parties' electoral manipulations.
Business: A coal export terminal worth $5 billion in NSW that would have created 1500 jobs has been put on hold after Hunter Valley coal producers pushed to reduce contract tonnages as market conditions put future mine expansion plans in doubt.
Sport: The champion mare at the centre of the bust-up between John Singleton and trainer Gai Waterhouse was examined by Racing NSW's chief vet amid reports she still has a badly swollen neck.
The Sydney Morning Herald
Page 1: Millions of property owners in NSW face a new levy to fund fire and emergency services, after an overhaul of how land is valued to determine land tax and council rates.
Page 2: Hundreds of Central Coast holiday home owners could be prevented from letting their properties for short periods after a judge declared it a "prohibited use" for a broad category of properties.
Page 3: An Australian Federal Police staff member sacked after passing on information to spies at the South Korean consulate in Sydney has lost an unfair dismissal case.
World: Doubts are growing over the integrity of Malaysia's election this Sunday amid cyber-attacks, campaign-related violence and revelations that indelible ink meant to prevent fraud can be easily washed off.
Business: Asciano has cut capital spending and brought forward planned Port Botany job cuts as it battles "very soft market conditions", particularly in the general freight sector and its ports division.
Sport: There are four games until the opening State of Origin encounter, but Blues coach Laurie Daley has already settled upon 15 of the 17 spots up for grabs.
The Daily Telegraph
Page 1: The Supreme Court of NSW has ruled that The Daily Telegraph is not permitted to quote an investigative report commissioned after the allegations of use of performance-boosting substances by Cronulla Sharks NRL players which became part of a legal advice.
Page 2: James Packer's dream to create Sydney's most iconic building since the Opera House will come with a soaring price tag after three of the world's finest architects submitted dazzling designs that may cost as much as $1.5 billion.
Page 3: Italian architectural genius Renzo Piano has pulled out of the race to design James Packer's dream casino resort before lodging a final design.
World: The daughter of a woman who donated her face to severely disfigured domestic violence victim Carmen Tarleton said it was truly a blessing to see her mother "live on".
Business: Tiger Airways is about to embark on an unprecedented promotional blitz in a bid to steal customers from Jetstar.
Sport: A credit card belonging to the NRL's statistics supplier was used to buy drugs from a clinic with links to figures at the centre of the ASADA investigation.
The Age
Page 1: Dozens of serious criminal trials could be stalled after the state's highest court refused to allow an attempted murder trial to begin without more legal help for the accused man.
Page 2: Saudi Arabian security services captured Perth man Shayden Thorne in a raid on the hideout of an alleged extremist group they accuse of planning to join mujahideen fighters in Afghanistan.
Page 3: Kara Doyle was fatally shot in the stomach by her boyfriend after the pair argued over him asking another woman to be part of a sex act, a court has been told.
Business: Geelong smelter under threat from Alcoa cuts.
The Herald Sun
Page 1: Body parts custom-made from a patient's own skin cells could be printed by Melbourne doctors within three years to save lives and revolutionise surgery.
Page 2: Passengers at Melbourne Airport could face morning chaos on Friday, if taxi drivers blockade its entrances in a protest against rank changes.
Page 3: The nation's top lawmaker has been ticked off for breaking flight rules in a high-flying phone drama.
World: Shortly after the FBI released photos of two Boston bombing suspects on April 18, several college friends sent texts to Dzhokhar Tsarnaev on their mobile phones.
Business: Businesses across the state have backed the campaign for a major upgrade to Victoria's groaning infrastructure.
Sport: Essendon would still be enjoying the benefits of performance-enhancing drugs if players did take illegal supplements last season, according to a leading athletics expert.