Compiled for Reuters by Media Monitors. Reuters has not verified these stories and does not vouch for their accuracy.
THE AUSTRALIAN FINANCIAL REVIEW (www.afr.com)
APN News and Media is considering an asset swap which will allow the company to exchange its outdoor advertising assets for full control of its radio division. APN would sell out of its outdoor joint venture with Quadrant Private Equity and Adshell joint venture with Clear Channel Communications, combining the businesses into a new joint venture controlled by Quadrant and Clear Channel, according to a preliminary proposal. Page 1.
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The Australian Taxation Office (ATO) will target Bitcoin users who could be using the digital currency to hide transactions and avoid paying tax. The ATO will leverage its experience with physical cash and earlier forms of anonymous electronic money systems to monitor the currency. Popularity of Bitcoin has increased as an alternative to government-backed currencies but it remains highly volatile, fluctuating from lows of around US$2 to highs over US$200. Page 3.
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THE AUSTRALIAN (www.theaustralian.news.com.au)
Former head of the Australian Competition and Consumer Commission, Graeme Samuel, has called for a wide-reaching national reform agenda from both major political parties, including changes to corporate and middle-class welfare. He urged politicians to review the current goods and services tax regime, saying it was burdened with exemptions. Page 1.
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The Australian Federal Coalition has laid out its national security agenda, flagging cyber-security and a renewed focus on terrorism as key priorities should it win government. Opposition legal spokesman George Brandis said restoring the capabilities of frontline national security agencies, including the Australian Security Intelligence Organisation, Customs, and the Australian Federal Police, which have lost resources to the asylum problem, would be the first order of concern. Page 2.
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THE SYDNEY MORNING HERALD (www.smh.com.au)
Australian consumer group Choice has responded to a report by the Bank for International Settlements, which found profits for Australia's big four banks were likely to exceed A$26 billion this year, with calls for greater competition in the sector. Matt Levey, head of campaigns, said Australia's largest banks were taking advantage of their privileged position in the sector, brought about by a lack of choice. Page 1.
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