MacroBusiness
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at 1:40 pm on May 11, 2021 | 8 comments
Analysis of major banks’ latest financial results shows that the amount they paid via the federal government’s controversial bank levy rose by about $50 million to $850 million at the peak of the COVID-19 pandemic.
The quarterly levy of 0.015% on banks with liabilities of more than $100 billion was introduced in 2017. And
The AFR’sMichael Roddan clearly wants to levy to be scrapped:
The banks played more than their fair part in the so-called Team Australia during the pandemic…
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“This bad policy – it’s policy on the run and every Australian is going to have to pay the bill,” Australian Banking Association chief executive Anna Bligh said on May 9, 2017…
Lights, Camera, Budget: Who made the VVIP lists for Canberraâs night of nights
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Generally, the second Tuesday in May is the only night of the year when the often-ignored national capital can truly feel like the centre of the nationâs attention. At least, for the 30 minutes of the Treasurerâs budget speech.
And after the COVID-inspired and socially distanced non-event that was budget 2020, the political crowd and bandwagoners turned out in force for what is expected to be the last budget ahead of the next federal election.
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A consumer deposit rush and scramble by business to access cash during the COVID-19 panic triggered a $50 million jump in the amount the big four banks and Macquarie paid through the major bank levy during the height of the economic crisis.
While it has been well noted that the banks played more than their fair part in the so-called Team Australia during the pandemic, an analysis by
The Australian Financial Review of the latest financial accounts from the lenders showed a sharp jump in their tax liabilities at a time when they were already financially stretched.
Not only were Commonwealth Bank, Westpac, National Australia Bank, ANZ and Macquarie early out of the blocks with loan deferrals and helping small businesses manage cash flows and liabilities, the major lenders were banned from accessing any JobKeeper payments for staff that may have needed to be furloughed at the time.
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Subscriber only Young Brisbane entrepreneur Matt Baker had an aha moment when a friend of his had one of those horror experiences moving house. Some of her goods were broken and, to top it off, she was overcharged. That s when Baker realised there had to be a better way and he launched his Shift Buddies business from a depot in Kedron in mid-2018. He got rid of an old ute for $8000 and used the money to acquire his first truck. I bought a 2002 Isuzu truck and went to work working seven days a week doing small furniture pick-ups, rubbish runs and small house moves before quickly expanding, the 26-year-old self-starter told City Beat.
“Transparent and respectful, so a person applying for a visa can see progress and how much it will cost.”
Robert retained responsibility for digital services despite being moved to employment minister in the last reshuffle in March.
He pointed to a piece of legislation introduced into parliament in December with little fanfare - the data availability and transparency bill. The bill is aimed at making it easier for government agencies to share personally identifiable data and allow external organisations such as universities to access de-identified data.
With some limited exclusions, the legislation covers “all data collected, created or held by the commonwealth, or on its behalf”.