Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 26-Jun-17

The South Australian Government’s levy on the big four banks and Macquarie Group is expected to raise around $A100 million per annum. The tax is additional to the levy that was recently announced by the federal government. Federal minister Christopher Pyne has attacked the SA levy on the grounds that the state government offers no form of guarantee to the banks, thus admitting that the federal levy is in return for it providing a guarantee to them.

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MACQUARIE GROUP LIMITED – ASX MQG, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. OFFICE OF THE AUSTRALIAN SMALL BUSINESS AND FAMILY ENTERPRISE OMBUDSMAN