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New Rudd Government tax on bank deposits will hit you

Posted By julie wilson On August 2, 2013 @ 3:31 pm In World News | Comments Disabled

Phillip Hudson and Stephen McMahon
The Advertiser [1]
August 2, 2013

BANKS are expected to cut interest on deposits to make up for $733 million being taken by the Rudd Government as an insurance levy that will prop up its embattled Budget.

The “savings tax” would mean a customer with a $100,000 deposit could lose $4 a month in interest.

But the Government says the typical household has $10,000 in the bank and the loss would be less than 50c a month.

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URLs in this post:

[1] The Advertiser : http://www.adelaidenow.com.au/business/companies/new-rudd-government-tax-on-bank-deposits-will-hit-you/story-fni0d54v-1226689769661

[2] Cyprus Bank Deposits Plunge By Most Ever During “Capital Controls” Month: http://www.prisonplanet.com/cyprus-bank-deposits-plunge-by-most-ever-during-capital-controls-month.html

[3] Run On The Bank? Americans Could Lose Their Deposits: http://www.prisonplanet.com/run-on-the-bank-americans-could-lose-their-deposits.html

[4] Bank of Cyprus depositors could lose up to 60% of their savings: http://www.prisonplanet.com/bank-of-cyprus-depositors-could-lose-up-to-60-of-their-savings.html

[5] Bernanke Fails to Answer Concerns about a Cyprus-Style Seizure of American Bank Deposits: http://www.prisonplanet.com/bernanke-fails-to-answer-concerns-about-a-cyprus-style-seizure-of-american-bank-deposits.html

[6] Cyprus government’s ‘great bank robbery’ of private accounts may set off bank runs across Europe: http://www.prisonplanet.com/cyprus-governments-great-bank-robbery-of-private-accounts-may-set-off-bank-runs-across-europe.html

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