The South Australian Government wants to introduce an extra bank tax.
We should be giving Australian businesses MORE reasons to come to South Australia, not fewer.
The South Australian economy is already suffering. A bank tax in South Australia will be bad for business, bad for jobs, and bad for South Australians.
Sign the petition to tell Premier Jay Weatherill and Treasurer Tom Koutsantonis:
“Don’t introduce the bank tax. It will make things harder for South Australians”
Thanks for adding your name to tell the South Australian Government that we don’t want this new tax.
The legislation has not yet passed through the Parliament. If enough of us stand up against it in the next few weeks, then Mr. Weatherill and Mr. Koutsantonis will be forced to dump their bad idea.
Will you share this petition with your friends so they can add their names too?
South Australia already has the nation’s highest unemployment and poor economic growth, and South Australians are feeling the impact. The state has already lost the car industry and Coca-Cola. It can't afford to risk a further handbrake on investment, growth and jobs.
The proposed new tax would make South Australia the only state to have a separate tax on five big banks. The tax harms South Australia’s economy and will cause businesses and jobs to go to other states and hit every day South Australians trying to get ahead.
South Australians shouldn’t be disadvantaged because of this tax.
Businesses are already doing it tough in S.A., and now the Government’s going to hit the banks with a new tax and make it tougher. This tax will make South Australia less competitive, and drive jobs and investment to other states.
Business needs certainty to grow, innovate and create jobs, but this new tax is a big signal to the business community that it’s about to get harder to do business in our state.
Businesses will think twice about investing further in South Australia as we don’t know if the Government will increase this tax or introduce other taxes on other industries. This sort of uncertainty causes businesses to pause and even abandon expansion plans.
Why would any business take the risk of coming to South Australia now?
80% of bank profits are returned to shareholders. In South Australia, that’s 145,000 major bank shareholders and many more South Australians with superannuation who will be affected by this tax.
Many South Australian shareholders live off their savings and share dividends.
If the Government has its way, and this tax goes through, shareholders, customers, bank employees or local suppliers will ultimately be impacted.
If banks shares and dividends go down, many people will be affected.