Banks swipe $ 4000000000 in taxes from families

Banks swipe $ 4000000000 in taxes from families

class=”caption-text”> class = “image-source”> Source: available

BANKS $ 4000000000 in taxes collected from the families of the previous financial year – a heck of a many, but still less than a year ago.

News 2010/11 was the second consecutive year that the fees banks charge households fell, according to an annual survey of the Reserve Bank of Australia (RBA) announced today.

total $ 4 billion in 2010/11 was down from $ 300 million by 2009/10.

And it was $ 1200000000 lower than data raked in $ 5.2 billion from banks two years ago in 2008/09

“This decrease is primarily the result of a decline in transaction fees exemption in deposit accounts, “the RBA said.

Exception fees include those costs of the transfer arm annoying to your savings account in smaller amounts, or take your card credit monthly payment a day late, thanks to two days he got a bank to get money to another bank next door.

But there is only exception fees.

Account service and transaction fees on deposit accounts decreased as banks compete to attract deposits in the wake of the global financial crisis that had troubled wholesale money markets.

In 2010/11, fee income on deposit accounts of the family reached $ 1 billion, compared with $ 2.1 billion in the peak year 2007/08.

slow housing market has hit the mortgage fee income as well, ranging from cash cow fee drops to $ 1200000000 in 2010/11 by $ 1.4 billion in 2009/10.

But the banks have to make up the largest capture tax revenue from its business customers.

Fees from business accounts rose to $ 7300000000 in 2010/11, from $ 6.9 billion in 2009/10.

The increase was primarily the result of increased fees for loans and bank bills – ious banks traded issue on behalf of corporate clients – and contrary to the principles of the fall in overall lending business in

total. banking fee income increased slightly in 2010/11, again in 2008/09 level of $ 11.3 billion after falling to # 11.2 billion U.S. dollars in 2009/10.