Weatherill’s tax grab to sting local bank

Original article by Michael Owen
The Australian – Page: 2 : 7-Nov-17

BankSA CEO Nick Reade contends the Weatherill government’s proposed bank levy will have a much greater impact on it than the government has claimed. He says the South Australian government has suggested the levy might only push up its company tax rate by as little as 0.1 per cent, but Reade says it will increase it by around three per cent. Meanwhile, the Weatherill government remains determined that the tax should go ahead, with Treasurer Tom Koutsantonis saying on 6 November there was "no chance at all" that it would change its mind.

CORPORATES
BANK OF SOUTH AUSTRALIA LIMITED,SOUTH AUSTRALIA. DEPT OF TREASURY AND FINANCE,SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET

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