Time for public scrutiny of major bank tax

19 May 2017

Sydney, 19 May 2017: The Federal Government must open up the major bank levy for public scrutiny, the Australian Bankers’ Association said today.

“The four major banks have met Treasury’s extraordinarily tight timeframe to lodge their submissions this morning under strict confidentiality,” ABA Chief Executive Anna Bligh said.

“It is now time for the Government to reveal when it will release the legislation to the public – after all, this tax will affect millions of Australians who own shares in banks or are bank customers.

“At the moment we can’t quantify the impact of this tax on banks, and the flow on effects to customers, because the legislation has not been in the public domain.

“The ABA calls on the Government to provide more clarity as to when the public will be able to see the major bank levy legislation,” she said.

ENDS

Contact: Stephanie Arena 0477 470 677 or Nic Frankham 0435 963 913

@austbankers

bankers.asn.au

Latest news

1 / 3
Media Release
6 in 10 Aussies worried loved ones will suffer elder financial abuse
7 August 2019

The Australian Banking Association (ABA) has today announced it is joining forces with Bauer Media to expand its campaign to tackle elder financial abuse. The campaign, Stop Elder Financial Abuse, launches today in Sydney as newly released research reveals almost 6 in 10 Australians are worried that someone they know will be the victim of… Read more »

Read more
Media Release
New Consumer Data Right is a win for competition
1 August 2019

Today’s passage of the Consumer Data Right legislation charts the way forward for a more innovative and customer focussed banking industry that will deliver better deals for Australians. CEO of the Australian Banking Association Anna Bligh said today’s passage of the Consumer Data Right legislation through the Parliament would create the legal foundation for Open… Read more »

Read more
July Update
26 July 2019
View online