Banks in Australia may rise even further, or there may be added fees, thanks
to new government taxes on the banking industry. The Government of Australia
is looking to fill holes in it’s budget with added taxes on Banks. Those fees are sure to be passed along to customers. Ultimately this new tax proposal wont
really effect the banking industry at all. This may even lead to more loans
being provided by off shore banks, who would be immune to these new taxes.
Key Takeaways:
- The government has not stated which aspects of banking qualify for a new extra tax
- Banks will surely not eat this fee and so it will likely be passed to the consumer
- Organizations like banks that borrow from other countries will not face the same amount of money owed as those that do no
“Are bank fees up, almost certainly yes. I was invited to a discussion this afternoon with a bank where they discussed this with us.”
Read more: https://www.possolutions.com.au/blog/bank-fees-up
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