COBA launch national campaign against proposed deposit tax

17 June 2015

The Customer Owned Banking Association (COBA), have further increased their fight against any proposed introduction of a deposit tax by the Federal Government by launching a national television and radio advertisement campaign:

The campaign entitled, Save Your Savings, states that the proposed tax is anti-saver, anti-competitive and against the recommendations of the independent Financial System Inquiry (FSI). Furthermore COBA, a BCCM member, has pointed to independent polling commissioned by the association that shows 79% of those polled were against any deposit tax.

This follows COBA’s call for the Federal Government  to complete its tax review before any changes to deposit taxes are considered.