Original article by Joanna Mather
The Australian Financial Review – Page: 6 : 4-Nov-15

Ernst & Young’s Brad Miller says a proposal to impose a 10 per cent tax on margin-based financial services could result in home buyers being taxed twice. The tax initiative was proposed by ex-KPMG tax partner Michael Evans, and would apply to banks’ margin of profit on financial products such as mortgages. Miller notes that house buyers could potentially pay GST on both the home itself and the interest on their mortgage loan.

CORPORATES
ERNST AND YOUNG, KPMG AUSTRALIA PTY LTD, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, BDO AUSTRALIA LIMITED