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.
Contact: Stephanie Arena 0477 470 677 or Nic Frankham 0435 963 913
The Australian Banking Association welcomes the reappointment of Treasurer the Hon Josh Frydenberg MP and the new appointments of the Hon Michael Sukkar MP as Assistant Treasurer and Minister for Housing and Senator Jane Hume as Assistant Minister for Superannuation, Financial Services and Financial Technology. The industry is committed to earning back the trust… Read more »