Banks should pay advice exit levy: TAABY ANNABELLE DICKSON | THURSDAY, 18 MAR 2021 11:31AMThe Advisers Association (TAA) is calling on the government to mandate major banks and institutions pay an exit levy upon leaving the advice industry to provide relief for financial advisers and mitigate the increasing levy. Related News |
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David Woodall
CHIEF EXECUTIVE OFFICER, SUPERANNUATION
INSIGNIA FINANCIAL LTD
INSIGNIA FINANCIAL LTD
Facing his greatest test yet in metamorphosing MLC Super, Dave Woodall is adamant the juice will be worth the squeeze. Jamie Williamson writes.
Frankly, why is it that advisers are changed a levy at all to maintain a government bureaucracy? A policing agency at that! It's incredulous to me that the various adviser associations have meekly sat by and not raised a single voice in protest about this outrage?
It's not unlike a couple of government reps coming into your home demanding all of your valuables and all of your money. You protest and say 'how do you expect to get away with this?' They then say, 'two reasons: a) because we want what you have; and b) because we can!'