super profits

Is the GST unconstitutional?

Any State government that wants to broaden the GST should first consider whether the drafting of the GST legislation breaches s.55 of the Constitution, and whether the GST collection mechanism breaches s.82.

How much profit is too much?

The four major banks have refused to follow the lead of the Reserve bank and reduce their interest rates charged on borrowings.

Last financial year these four banks amassed a whopping 24 billion dollars in super profits. They are four of the most profitable banks int her world, protected by the government from failure. Their largesse is a crime.