Snapshot from The Sydney Morning Herald 12 August 2013
According to economic journalist Peter Martin writing in The Sydney Morning Herald on 12 August 2013:
He [Hartsuyker] is talking about the levy on bank deposits, which incidentally the Coalition hasn't yet said it will oppose.
It's due to start in 2016 and it won't be anything like as big as income tax, as Hartsuyker implies when he says savers will be taxed twice.
It'll amount to just $5 per year on a bank account of $10,000, just 50 cents a year on an account of $1000.
Other bank fees dwarf the levy. The cost of withdrawing from another bank's ATM is typically $2 a throw.
But is it a tax at all? More particularly, is it a tax on savers?
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