The latest issue of Financial Standard now available as an e-newspaper

READ NOW

Search Results

Showing 1 - 10 of 17 results for "Bank levy"

Record tax receipts, record outlays yet back to surplus

ALEX DUNNIN | TUESDAY, 2 APR 2019

... Goods and Services Tax. In comparison, it's worth reminding ourselves that opportunistic initiatives such as the bank levy raised only $1.6 billion this financial year which is just 0.3% of total receipts. The Commonwealth Government raises more ...

Discriminatory bank regulation hits super savings

JAMIE WILLIAMSON | WEDNESDAY, 22 AUG 2018

... Scheme (FCS) and thereby treated as stable. This is further compounded by the Net Stable Funding Ratio and the Major Bank Levy. "Because unstable deposits require banks to hold more low-yielding liquid assets than in the case of stable deposits, the ...

CBA readies wealth demerger, records $9.2bn cash profit

DARREN SNYDER | WEDNESDAY, 8 AUG 2018

... previous year, hindered by items such as the $700 million AUSTRAC penalty, the removal of ATM withdrawal fees and the major bank levy. CBA chief executive Matt Comyn acknowledged a challenging year and said the decision to demerge wealth management ...

Government caves to banking Royal Commission

KARREN VERGARA | THURSDAY, 30 NOV 2017

... ratings across the major banks." The banks have clearly been a focus of the government and regulators this year, with the bank levy, the BEAR regime of senior executive oversight, the commissioned ACCC review of competition, the ASIC and AUSTRAC cases ...

Wealth, insurance arms hit banks' earnings

KARREN VERGARA | TUESDAY, 7 NOV 2017

... major banks earned a total of $31.5 billion in cash profit, up 6.4% on the prior year. The introduction of the major bank levy is expected to flow through in subsequent reporting periods. The number of full-time employees across the majors decreased ...

Warne flags executive reshuffle at Macquarie AGM

ALEX BURKE | THURSDAY, 27 JUL 2017

... positive about the group's 2018 outlook, he did note his surprise at Macquarie's inclusion in the Government's Major Bank Levy regime, given "the relatively small size of our Australian banking business." He explained: "The annualised cost of the new ...

Broaden levy to foreign banks: Big four

KARREN VERGARA | MONDAY, 19 JUN 2017

Large foreign banks should also be subjected to the proposed $6.2 billion bank levy, Australia's four major banks told the Senate Standing Committee on Economics reviewing the levy Bill last week. Many multinational banks, while active in the institutional ...

Banks narrowly avoid parliamentary inquiry

EMMA RAPAPORT | FRIDAY, 16 JUN 2017

... budget black hole," Bligh said. ANZ, CBA, NAB and Westpac have also taken to the ASX to criticise the Government's new bank levy, with some saying it will hit customers hardest. The Australian Bankers' Association, the big four and the Macquarie Group ...

Big four hammer bank levy

ALEX BURKE | TUESDAY, 23 MAY 2017

ANZ, CBA, NAB and Westpac have taken to the ASX to criticise the Government's new bank levy, with some saying it will hit customers hardest. Westpac chair Lindsay Maxsted said in an open letter that the new levy is "bad public policy that targets just ...

Senior executives sworn to secrecy over bank levy

JAMIE WILLIAMSON | THURSDAY, 18 MAY 2017

... from consulting with their boards, customers or shareholders prior to the implementation of legislation around the new bank levy. In what the Australian Bankers' Association has labelled an extraordinary move, the Federal Government yesterday forced ...

PAGE:

Super funds race to implement digital advice

VINNY VUCAGO

Australian superannuation funds are increasingly turning to digital advice tools to bridge the longstanding gap between members needs and access to affordable financial guidance, according to executives at wealth technology Bravura Solutions.

Musk's $106bn fundamental-defying IPO lands on Nasdaq

RIDDHIMA TALWANI

SpaceX has raised US$75 billion ($106.8bn) in the biggest-ever stock market debut, valuing Elon Musk's rocket and satellite company at US$1.77 trillion.

Quinbrook appoints Australian lead

VINNY VUCAGO

Energy transition infrastructure investor Quinbrook has appointed Tim Horneman as region leader for Australia, formalising his responsibility for the firm's local investment activities and business operations.

Former ASFA COO joins housing fund manager

MATTHEW WAI

The former chief operating officer of the Association of Superannuation Funds of Australia (ASFA) has joined C1 Capital Group as chief investment and operating officer.

Videos

Brought to you by

Global economic outlook and the case for local currency emerging market debt: Resilience, risk, and opportunity

Follow the leaders

A guaranteed future

SMILE through retirement - tackling the top 5 (Sequencing, Market, Inflation, Longevity, Emotion) retirements risks

Maintaining a fundamental focus in a world obsessed with the short term

Strength amid noise

The market has changed. The opportunity hasn't.

MORE VIDEOS

Products

'Guide To' Series

Pocket investment guides featuring adviser case studies and a glossary.

MORE INFO

Publisher's Forum

Investing trends and strategies from the industry’s thought leaders.

MORE INFO

Product Showcases

Putting the spotlight on investment products that matter.

MORE INFO

Expert Feed

Christian Mueller-Glissmann

Head of Asset Allocation Research

Goldman Sachs

When geopolitics becomes a portfolio risk

Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.

READ MORE

Tania Milnes

General Manager Membership

Financial Advice Association Australia

Does association membership still matter?

With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...

READ MORE

Effie Dimitropoulos

Chief executive

AUDD

Digital assets and where they stand in 2026

So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.

READ MORE

Jessica Sclafani

Global retirement strategist

T. Rowe Price

Rethinking default design in a changing market environment

The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.

READ MORE

Industry Events

MORE INDUSTRY EVENTS

JUL

Advisers Big Day Out - Hobart

Featured Profile

MORE PROFILES

Brian Redican

CHIEF ECONOMIST
NEW SOUTH WALES TREASURY CORPORATION

What makes an economist an economist? TCorp chief economist Brian Redican reflects on over three decades of navigating Australia's economic cycles. Riddhima Talwani writes.

READ MORE