fbpx
Skip to main content
Financial Assistance Hub

South Australian small businesses overwhelmingly reject proposed bank tax

7 August 2017

Adelaide, 7 August 2017: The vast majority of South Australian small business owners oppose the State Government’s proposed tax on banks believing it will damage competitiveness, consumer confidence and the State’s economy, according to a new Galaxy* survey.

Among the 400 small business owners and managers surveyed in the past fortnight, 65 per cent oppose the bank tax. Only 22 per cent support it. Of greatest concern, more than 80 per cent believe the tax will make South Australia less competitive and around 70 per cent believe it will negatively impact the economy.

Australian Bankers’ Association CEO, Anna Bligh, said the results reflected the small business community’s outright rejection of the Weatherill Government’s proposed bank tax.

“The results are clear. South Australian small businesses oppose the proposed bank tax. Economic conditions in South Australia are tough enough. The last thing businesses want is a new tax that they believe will make doing business in their State much harder than it already is.

“South Australia needs economic policies that are going to stimulate growth and support small businesses, not bad policies that will leave South Australia lagging behind other states,” Ms Bligh said.

The poll revealed just how tough business conditions are in South Australia right now:

  • Eight in ten people believe the South Australian economy is in bad shape.
  • Two thirds of small businesses said the SA economy has been a barrier to growing their business. Six in ten say the same about Government taxes.
  • Just under three quarters of those polled believe employment prospects are bad.
  • Almost seven in ten expressed concern that the Treasurer’s refusal to rule out imposing ad hoc taxes on other parts of the economy would be bad for business sentiment.

This latest polling comes off the back of the BankSA State Monitor that found a significant drop in business confidence, business optimism and South Australian pride.

ENDS

Contact: Stephanie Arena 0477 470 677 or Nic Frankham 0435 963 913

*Galaxy Research is an Australian­-owned independent company. The methods used by Galaxy have been tested and proven to be accurate at both state and federal elections which has resulted in Galaxy being recognised as the most accurate polling organisation in Australia.

Latest news

1 / 3
Banks stand ready to support North Queensland communities affected by floods
4 February 2025

The Australian Banking Association (ABA) is urging customers in North Queensland affected by the floods to get in touch with their bank if they are in need of financial relief. ABA CEO Anna Bligh said banks are on standby to assist households and businesses who have been impacted by these severe floods. “My message to… Read more »

Read more
Media Releases
Banks urge Parliament to modernise payment system regulation
4 February 2025

Download radio grabs of Anna Bligh here. The ABA is urging the Parliament to swiftly pass legislation that will ensure Australia’s payments regulatory framework remains fit-for-purpose as digital payments continue to skyrocket. According to the RBA, each month Australians are now making over 500 million payments with mobile wallets worth over $20 billion. This legislation… Read more »

Read more
Media Releases
ABA CEO Anna Bligh to retire
3 February 2025

The Chief Executive of the Australian Banking Association (ABA) and former Queensland Premier, Anna Bligh AC, will retire in mid-2025 once a replacement is appointed. ABA Chair and National Australia Bank CEO Andrew Irvine today announced that Ms Bligh had advised him that she had decided to retire after more than eight years in the… Read more »

Read more