Financiers in the ASX100 will be the target of a new new tax proposed by the opposition Labor Party,
The Australian and
The New Daily report.
Styled as a "Financial Rights Fund" the money will, in part, pay for a doubling of the number of financial counsellors.
Smaller banks previously untouched by the current banking levy on liabilities will pay the new tax, which is designed to raise around A$160 million a year for four years.
This will include Suncorp Group, Bank of Queensland, and the Bendigo and Adelaide banks.