Clause gives ‘unfettered power’ to alter levy: ABA

Original article by Joanna Mather
The Australian Financial Review – Page: 9 : 7-Jun-17

Australian Bankers’ Association CEO Anna Bligh has expressed concern that a clause in the bank levy bill would empower the relevant government minister to change the methodology used to calculate the tax. She has also called for the bill to include a "sunset clause" for the levy. Bob Deutsch of the Tax Institute adds that the bill would enable the Government to adjust the levy via a legislative instrument to ensure that revenue meets its forecasts.

CORPORATES
AUSTRALIAN BANKERS’ ASSOCIATION, THE TAX INSTITUTE, BUSINESS COALITION FOR TAX REFORM

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