Skip to main content
Financial Assistance Hub

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 Releases
Banks strengthen support for customers facing financial difficulty
8 July 2025

The Australian Banking Association (ABA) has released an updated industry guideline setting out best practice for banks when assisting customers experiencing financial difficulty. The updated guideline reflects the industry’s ongoing commitment to support customers when they need it most. ABA CEO Anna Bligh said this guideline builds on the existing obligations as well as the… Read more »

Read more
Transcript
Launch of Confirmation of Payee
2 July 2025

ABA CEO Anna Bligh: Well, here we are on the front line of the fight against scams. This is one of Australia’s largest banks, and the team of people here talking with customers, trying to protect customers and fight against scammers. Today, here we are launching a new piece of technology called Confirmation of Payee…. Read more »

Read more
Media Releases
​Australian banks launch new defence in battle against scammers
2 July 2025

Australian banks have today unveiled their latest scam fighting technology, with the launch of Confirmation of Payee – a new name-matching service designed to help protect customers from being tricked into sending money to criminals. Banks have invested $100 million in this new technology which is a key initiative of the sector’s Scam-Safe Accord –… Read more »

Read more