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Westpac Banking Corp (ASX:WBC) wealth arm BT Financial says it won’t impose a new levy on customers to cover the costs of the Labor government's superannuation reforms, according to media reports.
A spokesman for BT told media the group was not considering a levy, despite saying the costs associated with the government reforms were significant.
MySuper, a key part of Labor's new superannuation reforms, requires all providers to replace default products with a low-cost alternative.
It’s been reported that MLC and AMP will advise clients of new annual fees on super accounts from today.
Westpac Bank generated a net profit of $3.3 billion in the first half of fiscal 2013.
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Last
$38.73 |
Change
0.250(0.65%) |
Mkt cap ! $132.4B | |||
| Open | High | Low | Value | Volume |
| $38.40 | $38.82 | $38.27 | $112.4M | 2.907M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 629 | $38.63 |
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| Price($) | Vol. | No. |
|---|---|---|
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| Last trade - 16.11pm 15/09/2025 (20 minute delay) ? |
| WBC (ASX) Chart |