Labor donation in ICAC sights

Labor's Queensland branch received a donation from AWH during the 2010 federal election campaign. Source: AAP

LABOR'S Queensland branch received a $2200 donation from Australian Water Holdings during the 2010 federal election campaign.

The infrastructure company is at the centre of a NSW Independent Commission Against Corruption inquiry into alleged improper dealings involving former NSW state politicians and the state-owned Sydney Water.

The Liberal party has begun the process of paying back donations received from AWH dating back to 2009.

One of the Liberal bodies that has already refunded money is a fundraising group in Treasurer Joe Hockey's North Sydney electorate, which to date has paid back $33,000.

A search of Australian Electoral Commission records shows the ALP's Queensland branch received a donation from AWH of $2200 on July 15, 2010, during the federal election campaign.

ICAC heard on Monday the infrastructure company disguised political donations and other expenses as administration costs and charged them back to Sydney Water.

The inquiry heard that Sydney Water had "unwillingly, unknowingly been a principle donor to the Liberal Party".

Opposition Leader Bill Shorten told reporters in Melbourne on Friday there were clear laws for campaign funding in Australia.

"The laws have got to be adhered to. Full stop. No excuses. No exceptions," Mr Shorten said.

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Mining tax debate focus in parliament

The mining tax repeal and Qantas will feature in parliamentary debates in the coming week. Source: AAP

THE federal government will try to pressure Labor over the repeal of the mining tax next week as the re-run of the West Australian Senate election looms.

The repeal bills have been listed as the first item of business in the upper house when parliament resumes on Monday.

The Senate election on April 5 is expected to be a focal point of debate in question time, as the Liberals aim to retain the three seats they won at the 2013 election and Labor aims to pick up two seats.

The government has already targeted Labor over its decision this week to vote with the Greens to block the repeal of the carbon tax, despite former prime minister Kevin Rudd pledging in 2013 to scrap the tax.

"We always said that our two first priorities in terms of legislation was to scrap the carbon tax and the mining tax," Finance Minister Mathias Cormann told AAP on Friday.

"We are continuing to work down our to-do list."

Prime Minister Tony Abbott will also seek Labor support for a package of bills on his "repeal day" on Wednesday.

The legislation aims to remove thousands of regulations and pieces of legislation that are redundant, outdated or impose a burden on business.

Mr Abbott says the repeal package - coupled with other measures - will take $700 million a year in compliance costs off business and community groups.

Another repeal day will be held later in the year.

The Senate on Monday will receive a report from its economics legislation committee on the Qantas Sale Act, which would allow majority foreign ownership of the airline.

Labor and the Greens say the airline should remain in Australian hands and be based here, but there might be room for a compromise: allowing foreign airlines to hold more than a 35 per cent stake in Qantas or a greater than 25 per cent stake for any single foreign shareholder.

Senate inquiry reports will be received on Wednesday relating to ticket scalping, the coalition's Direct Action climate plan and people living with dementia.

On Thursday, reports will be tabled from inquiries into Operation Sovereign Borders, Qantas jobs and overseas aid.

The lower house will continue to debate laws to extend road funding and re-establish the Green Army of environmental volunteers.

Labor wants an inquiry into the Green Army legislation, saying it has concerns about workplace protections, the interaction with other welfare payments and the obligation of employers to provide training.

The House of Representatives will also debate a Labor motion on Monday seeking assurances from the government that ABC funding won't be cut and that it will stop vilifying the broadcaster.

It will be the last sitting week before the May 13 budget.

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Customers return as $A falls, says DJs

DAVID Jones says a lower Australian dollar has helped it to pinch customers back from international online rivals.

Earnings from the company's department store business grew by more than eight per cent to $91.6 million in the six months to January 25, thanks to a 3.8 per cent rise in sales.

But its net profit dropped by 4.6 per cent to just over $70 million, due to reduced earnings from its financial services division.

Chief executive Paul Zahra said a fall in the Australian dollar from around $1.04 a year ago to its current level of around 91 US cents had turned customers away from international websites.

"We've seen that as the $A has fallen below parity with the $US, shopping on an offshore website has become less interesting for our customers," he said.

"So we have seen a lot of customers return to shopping with us and of course now we've got our own online business that allows us to compete head to head."

David Jones relaunched its online store in 2013 and expects online sales to account for 10 per cent of total sales within four years.

Mr Zahra said a strong rise in Australian property prices during the past year also meant customers felt they had more to spend.

"Our core customer is feeling wealthier, not only in the price of their home but in the equity market as well," he said.

The company said its financial services division was hit by customers using their David Jones Store Cards less, though this was partly offset by increased demand for David Jones American Express cards.

The transfer of control of David Jones' electronics division to retail business Dick Smith had removed what had been a drag on earnings, Mr Zahra said.

Despite improving sales the company wants to reduce costs, and will close under-performing stores including Birkenhead Point in Sydney and Harbour Town on the Gold Coast once their current leases expired.

David Jones also said it had received positive feedback from Sydney City Council in relation to a proposal to develop the space above its flagship Market Street store.

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Aust imposes sanctions over Ukraine crisis

AUSTRALIA will impose financial sanctions and travel bans against a dozen Russian and Ukrainian individuals who have been instrumental in Russia's moves to annex Crimea.

Foreign Minister Julie Bishop condemned Russian President Vladimir Putin's move and said the referendum in Crimea could not form any legitimate basis to separate it from the rest of Ukraine.

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Ascot Resources aquires iron ore project

SHARES in Ascot Resources have risen after the minerals explorer signed a $2 million deal to acquire the Wonmunna Iron Ore Project in the Pilbara region of Western Australia.

Ascot is hoping to produce five million tonnes of iron ore from the project, located near Rio Tinto's West Angelas and Hope Downs iron ore assets.

The deal with Ochre Group, an iron ore explorer, includes the issue of 88 million Ascot shares, a maximum of $2 million in cash and a further $29.75 million to be payable five years after the transaction is completed.

Ascot Resources shares were up 1.7 cents, or 22 per cent, at 9.5 cents at 1500 AEDT.

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Mum likely murdered beside Qld river

A WOMAN found dead beside a river on the Queensland-NSW border is likely to have been murdered, police say.

Mother-of-three Alexis Jeffery, 24, was found at the edge of the Macintyre River in the Queensland town of Goondiwindi late on Sunday morning.

The local resident was last seen alive in Goondiwindi's town centre at 3.30am on Sunday.

Acting Superintendent David Isherwood said the dumping of the woman's body on a levy bank made foul play likely.

"It's probably 20 metres from the actual top of the levy bank to where she was found," he told reporters on Tuesday.

"She was right on the edge of the water."

A post-mortem examination is yet to be carried out.

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Chinese investors fuel retail spending

AFTER five years of chronic frugality, Australians are finally starting to loosen their purse strings and retailers may have Chinese property investors to thank for it.

Australian retail spending has lifted close to five per cent in the past six months, which is more than double the growth recorded for the whole of 2012.

A key reason for the improvement, according to real estate business Colliers International, is Chinese investment in the property market.

Chinese buyers purchased around $5.9 billion worth of property in the year to June 2013 according to Colliers, and are now buying up almost one fifth of new housing in Sydney.

Coupled with low interest rates, that added demand helped drive Australian capital city home prices up 9.5 per cent in 2013.

That's bad news for first home buyers but good news for retailers, according to Colliers International head of retail Michael Bale.

"Increasing residential property values impact on how wealthy consumers feel and in turn their propensity to spend," he said.

So homeowners are feeling richer as the value of their property rises and are spending more at the shops as a result.

Mr Bale said foreign investors are also having a more direct impact on retailers by taking advantage of the recent slide in the Australian dollar to buy up luxury goods while Down Under.

The slide in the dollar has also pushed up the relative cost of travelling overseas and made goods purchased through international websites more expensive, which means Australians are spending more of their money with local retailers.

The dollar is currently trading around 90 US cents, which is down from around $1.04 a year ago.

"This level is supportive of not only attracting more overseas visitors to Australia, but also acts as a disincentive for Australians to take offshore holidays, particularly to the US," Colliers director of research Nora Farren said.

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