Mitch Fifield (Victoria, Liberal Party, Minister for Communications) Share this | Hansard source

Australian banks pay company tax, like all other eligible enterprises. We don't have a separate banking company tax regime, and that's not the intention of this government. We do, as you know, have in place a levy on those institutions, which we think is appropriate. But, as has been made very clear by the Treasurer and by the finance minister, we are looking to have a consistent company tax regime. What we want to have is an internationally competitive company tax regime. We were once about second or third best when it came to a competitive company tax regime. That is no longer the case. We need to amend our tax law so that we can continue to attract investment and to be competitive.