Yet South Australia did much the same thing last week. The reasoning of the South Australian Treasurer Tom Koutsantonis is somewhat muddled, to say the least. But it is hard to see the South Australian bank levy - and for that matter also the Federal levy - as anything more than gouging. The federal and South Australian governments have spotted an easy source of revenue and grabbed it. However, when it's a lineball decision between investing here and investing somewhere else, the bank tax is the sort of decision that could tip the balance in favour of another country.

Source: New Zealand Herald June 25, 2017 01:32 UTC