Given the small percentages involved, South Australia’s bank levy won’t interfere with the federal government’s levy, and would arguably be compatible with it.
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Articles on bank levy
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Applying the GST to banking has much sounder economic underpinnings than the current levy, would have raised much more revenue, and would have applied to all banks rather than just the big banks.
Contrary to what Labor and the banks have predicted, revenue from the bank levy will likely be higher, even with deductions.
The government’s best ideas for how to grow wages and incomes do not inspire confidence.
Treasurer Scott Morrison said Australia’s banks have a return on equity about twice that of banks in other advanced economies. Is that right?
Countries that have similar banking levies have seen them passed on to customers.
Top contributors
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Professor, Department of Economics, The University of Melbourne
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Emeritus Professor of Finance, The University of Melbourne
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Dean of Business School, University of Southern Queensland
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Productivity Growth Program Director, Grattan Institute
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Professor of Economics and National Senior Teaching Fellow, Griffith University
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Vice Chancellor's Fellow at Victoria University and Adjunct Professor of Economics, Victoria University
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Professor of Economics, UNSW Sydney
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Associate Professor of Law, University of South Australia
