Posted on 03/29/2015 5:32:03 PM PDT by dynachrome
The Federal Government looks set to introduce a tax on bank deposits in the May budget.
The idea of a bank deposit tax was raised by Labor in 2013 and was criticised by Tony Abbott at the time.
Assistant Treasurer Josh Frydenberg has indicated an announcement on the new tax could be made before the budget.
The Government is heading for a fight with the banking industry, which has warned it will have to pass the cost back onto customers.
Mr Frydenberg is a member of the Government's Expenditure Review Committee but has refused to provide any details.
(Excerpt) Read more at abc.net.au ...
Doesn’t look like just a tax on business deposits (Like the EU is doing through negative interest rates). No this looks like a war on banks and senior citizens.
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