Across the four major banks, the expense-to-income ratio for the last six months was up 227 basis points half-on-half, and 233 basis points against the first half of 2017, to 45.32 per cent, entirely driven by remediation and restructuring costs.
Australians spend around A$48 billion per month on credit, charge and debit cards. But the different fees, surcharges and “reward points” on these cards can be confusing. As my recent work with Rod Maddock shows, there is a simple solution – getting banks to charge consumers directly, as they already do on ATMs.
A concerted crackdown on the black economy could generate up to $5 billion per annum in additional Commonwealth revenue alone, a KPMG report, The Last Frontier, has revealed.
Annual Survey Examines Risk and Compliance Landscape for U.S. Banks
The ATO has released its latest small business benchmarks, providing over 100 different industries with average cost of sales and average total expenses. Businesses as varied as seafood retailers, bricklayers and dentists can see clearly what the relevant benchmarks are for their industry.