LEVIES – AUSTRALIA

Surcharge may have to rise for high earners

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Original article by Joanna Mather
The Australian Financial Review – Page: 6 : 6-Jan-16

Private Healthcare Australia notes that the cost of private health insurance is now rising faster than growth in wages. This has resulted in many people being financially better off by paying the Medicare levy rather than taking out health insurance. Private Healthcare Australia has suggested that increasing the Medicare levy may be necessary to provide an incentive for people on high incomes to join a health insurance fund.

CORPORATES
PRIVATE HEALTHCARE AUSTRALIA LIMITED, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA, AUSTRALIAN MEDICAL ASSOCIATION LIMITED, AUSTRALIA. DEPT OF HEALTH

Airlines reject credit card surcharge gouge claims

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Original article by Shaun Drummond
The Australian Financial Review – Page: 6 : 10-Nov-15

Qantas and its Jetstar subsidiary impose a surcharge of between $A7 and $A30 on flights booked via a credit or debit card. However, Qantas’s Andrew Parker estimates that the carrier recovered only about 81 per cent of the full cost of such transactions in 2014-15. Virgin Australia has indicated that its surcharges also do not allow it recover the full cost of credit/debit card transactions. Queensland businessman Klaus Bartosch has rejected the airlines’ claims and has argued that the surcharges are too high.

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, JETSTAR AIRLINES PTY LTD, VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, VISA INTERNATIONAL, MASTERCARD AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Qantas slow to reduce ‘galling’ fuel surcharges

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Original article by Matt O’Sullivan
The Australian Financial Review – Page: 27 : 20-May-15

FuelTrac’s Geoff Trotter has called upon Qantas to reduce its fuel surcharge on international flights. He notes that the carrier expects significant savings on its fuel costs in 2014-15 due to the downturn in the crude oil price. Qantas has yet to take action on the issue, despite flagging a review of its surcharges in January 2015. A spokeswoman says the airline is still in the process of revising its fares.

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, FUELTRAC PTY LTD, EMIRATES AIRLINES, SINGAPORE AIRLINES LIMITED, VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Deposits levy to hurt big credit unions’ profit

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Original article by Shaun Drummond
The Australian Financial Review – Page: 19 : 15-May-15

The Customer Owned Banking Association believes that the proposed deposits levy will reduce the annual profits of many small credit unions by around seven per cent. CUA estimates that its earnings will be cut by about six per cent, while People’s Choice Credit Union anticipates that its profit will be reduced by 5-7 per cent. The Australian Government will issue its response to the financial system inquiry before deciding whether to proceed with the levy.

CORPORATES
CUSTOMER OWNED BANKING ASSOCIATION, CREDIT UNION AUSTRALIA LIMITED, PEOPLE’S CHOICE CREDIT UNION, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

Qantas should keep fuel surcharge despite oil price fall

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Original article by Jamie Freed
The Australian Financial Review – Page: 23 : 4-Dec-14

The crude oil price has fallen from $US109 a barrel to just $US72 since Qantas increased the fuel surcharge on its international airfares in July 2014. Matt Crowe of the Commonwealth Bank believes that the carrier should leave the surcharge unchanged for now, noting that it generates 8-12 per cent of its annual revenue and offsets its overall fuel costs by just 27 per cent. Flight Centre MD Graham Turner recently urged airlines to abolish the surcharge

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, FLIGHT CENTRE TRAVEL GROUP LIMITED – ASX FLT, VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, EMIRATES AIRLINES

Hockey, Abbott split on GP fee

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 28-Nov-14

The future of the Australian Government’s proposed $A7 Medicare co-payment remains uncertain. Prime Minister Tony Abbott is believed to want to abandon the controversial policy, although Treasurer Joe Hockey and Health Minister Peter Dutton are keen to pursue its implementation. Dutton has warned that Medicare must be sustainable. Senator Ian Macdonald is among the Coalition members who oppose the co-payment

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF HEALTH, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA, AUSTRALIA. DEPT OF DEFENCE, AUSTRALIAN BROADCASTING CORPORATION, ASC PTY LTD, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

Aldi fails to disclose tap and go charges

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Original article by Shaun Drummond
The Australian Financial Review – Page: 8 : 19-Aug-14

The Australian Securities & Investments Commission has ordered Aldi to take remedial action to display fees for contactless card transactions at the point of sale. An investigation by the corporate regulator found that Aldi had failed to disclose the fact that a surcharge of 0.5 per cent applies to payments that are made using so-called "tap and go" credit cards

CORPORATES
ALDI STORES SUPERMARKETS PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, RESERVE BANK OF AUSTRALIA, VISA INTERNATIONAL, MASTERCARD AUSTRALIA LIMITED

GPs may charge higher co-payment

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Original article by Joanna Heath
The Australian Financial Review – Page: 10 : 30-Jul-14

Stephen Duckett of the Grattan Institute says the cost of visting a GP is a deterrent for many Australians on low incomes. There are concerns that more low-income earners will avoid visiting GPs if the Federal Government’s $A7 co-payment is introduced. Richard Bartlett of the Department of Health has conceded that GPs will be able to charge a higher co-payment. He also says the fee should have no impact on the provision of medical services

CORPORATES
GRATTAN INSTITUTE, AUSTRALIA. DEPT OF HEALTH, THE ROYAL AUSTRALIAN COLLEGE OF GENERAL PRACTITIONERS, AUSTRALIAN MEDICAL ASSOCIATION LIMITED