HGH - Heartland Group Holdings

[percy]

Nearly all my money when it's not in the market now resides in the Heartland direct call Acct, was a substantial amount a couple of weeks ago.

Word must have hit the street, that HBL had plenty of money to lend.!.lol.

[Beagle]

The AFR led with this and the banks are down between 2 and 3% today

Budget 2017: Scott Morrison plans to impose a tax on bank liabilities

Australia's big four banks are bracing themselves for a new tax onbalance sheet liabilities in the 2017 federal budget which is said toraise $6 billion over four years.In a move reminiscent of Labor's mining tax, Treasurer ScottMorrison is planning to impose a tax on the aggregate liabilities ofthe major banks, according to banking sources.The sources said Treasury Secretary John Fraser will call the big four bank chiefexecutives on Tuesday night at 6.30pm before Mr Morrison delivers the bad news.The tax will come directly out of retained profits, which is of great concern to thebanks because this is a source of capital for finance to small business.

Mr Morrison could defend the tax by pointing to the strong profitability of the big fourwhich make about $30 billion.There are numerous ways of taxing banks. The most popular has been a financialtransactions tax, also known as a Tobin tax in honour of a Nobel Prize winningeconomist James Tobin. Tobin taxes are in place in about a dozen countries includingFrance, Hong Kong, South Africa, Italy and the United Kingdom.But Morrison has opted for the same system used in the United Kingdom. This is a taxon liabilities for banks which have aggregate liabilities in excess of £20 billion. The UKtax is being phased out from 0.21 per cent to zero over the next five years.In the UK the liabilities tax was favoured after the global financial crisis because it wasnot reliant on bank profits. The UK also introduced a corporations tax surcharge.It is too early to say how the banks will react to the liabilities tax but it is possible theywill follow the lead of the mining companies and conduct a public campaign to fightit.But that would be a high risk option given the poor community attitudes towardbanks revealed in surveys supporting a royal commission into banking.The most obvious option for the banks to show their displeasure would be to pass onthe tax to borrowers.

Thank you for the heads-up. Passing the cost on to the borrowers, thereby making the big 4 Aussie banks less competitive relative to smaller N.Z. owned banks like Heartland I suppose. Seems a bizarre backward punitive tax to me...some strange political maneuverings coming from Australia lately.

[Beagle]

Nearly all my money when it's not in the market now resides in the Heartland direct call Acct, was a substantial amount a couple of weeks ago.

Mate you must have had a dump truck full because its affected their call rate, now down to 2.75%.

[couta1]

Mate you must have had a dump truck full because its affected their call rate, now down to 2.75%.

I didn't notice that, thanks for the info, still a lot better than 1.25 % with ANZ Securities and that will drop. PS-Yes it was a good sized load.

[Ggcc]

More buyers than sellers.

Thanks for the help on that. I could have spent ages figuring that one out. 😂

[Southern_Belle]

More buyers than sellers.

somebody knows something......there has been more buyers chandeliers for quite a while.

Time will tell.

Fortunate to be well positioned Percy

[kizame]

somebody knows something......there has been more buyers chandeliers for quite a while.

Time will tell.

Fortunate to be well positioned Percy

Yep, I know from experience,that their profit will come in at upper end of guidance,their divvy will get a lift,and there will be no new news to report.
No surprises there. Just a bull market in good stocks.

[percy]

We live in interesting times.
Have just been on ANZ Securities site and compared ANZ with HBL over the past 2 years.
Both started at zero.Surprise surprise ANZ is down 7.5% while HBL is up 30%.
WBC remains on Zero and again HBL is up 30%/

Disc ,Hold HBL,but not ANZ.or WBC..

pps Had fun this morning with my Visa Card being declined, at both Pak'n Save and Budget tyres.
First visit to my bank,Ordered a new card as old one was very worn.
Second visit to my bank.Visa network down.
In the meantime Eftpos network was working.

[Joshuatree]

Maybe stuff your mattress with cash so that when you wake up at night and the first thing that comes to your mind is "Am i well positioned?" wriggle, grin ,go back to sleep.

[Beagle]

We live in interesting times.
Have just been on ANZ Securities site and compared ANZ with HBL over the past 2 years.
Both started at zero.Surprise surprise ANZ is down 7.5% while HBL is up 30%.
WBC remains on Zero and again HBL is up 30%/

Disc ,Hold HBL,but not ANZ.or WBC..

pps Had fun this morning with my Visa Card being declined, at both Pak'n Save and Budget tyres.
First visit to my bank,Ordered a new card as old one was very worn.
Second visit to my bank.Visa network down.
In the meantime Eftpos network was working.

ANZ and WBC under the pump again today. Feel just a little sorry, (would feel more sorry except I and several others have debated with him at great length about the superior earnings growth of HBL relative to the big Aussie 4) for the other hound. Talk about being thrown a curved ball with that new punitive bank tax ! Ouch !
http://www.smh.com.au/business/feder...09-gw13yr.html Australian Government obviously really desperate for more revenue.
Meanwhile over this side of the Tasman I see our Govt's books are in good shape and tracking much better than expected. http://www.stuff.co.nz/business/9241...-may-25-budget Disc: Patiently waiting for the profit upgrade and next fully imputed dividend. Fully subscribed to dividend reinvestment scheme.