CUA welcomes savings initiatives
12 May 2010
CUA, Australia’s largest customer-owned financial institution, welcomes the Government’s tax savings initiatives announced in the 2010 Federal Budget.
Chris Whitehead, CUA Chief Executive Officer, commends the Government for giving Australians more incentive to save.
“The government’s plan will encourage Australians to save more and more savings will increase competition in Australia’s banking sector,” said Mr Whitehead.
“This is good news for the Australian economy and good news for competition in Australian banking. Now there is even more incentive to put your savings with Australia’s largest customer owned financial institution,” he said.
Under the initiative, individuals will receive a 50 per cent tax discount on up to $1,000 of interest income earned on savings products.
