Budget 2015: Federal Government set to introduce tax on bank deposits, Labor accuses Tony Abbott of backflipping on election promise
the future of Australian banking just got complicated
Abbott in political suicide
Coming to a country near you. IRA’s, pensions, and 401k’s are vulnerable as well.
How STUPID can the radical left get ???
Buy stock in Australian mattress stores.
Setting a wildfire they are.
Price of gold and silver to rise
A version of “walk into a store” tax, “parking tax”, etc., planned.
The Looting Begins Anew
This article doesn’t include enough information to enable competent judgement.
I am not familiar with Australian tax system and I believe most on this thread are clueless as well.
It is probably that they haven’t taxed interests as a taxable income previously and going to start soon.
I believe it is pretty much in line with practices around the world.
Taxation of the whole deposit simply doesn’t make any sense and it is something you can expect in African nation or Cuba, not in any Western country.
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.