Print PageFederal Opposition Leader Tony Abbott says banks shouldn't be penalised for their enormous profits by paying more tax.
The Commonwealth Bank made a net profit of $3.66 billion in the six months to December 31, up one per cent on the same period in the previous year.
The better-than-expected profits pushed CBA shares to a record high, and put the bank on track for another record full year profit near $7.6 billion.
Mr Abbott on Thursday agreed the profits were big - but said banks were large businesses.
"We're talking about big profits, but we're talking about big profits by vast, vast businesses and when you look at the rate of return on capital I'd be very surprised if the banks were doing that much different from anyone else," Mr Abbott told ABC radio.
"The last thing we want is unprofitable banks and the last thing we want is to send a message to the community, do well and you'll get a super penalty."
Mr Abbott said he was not against profit.
"I think profitable businesses are a good thing, not a bad thing," he said.
"We have company tax which all companies pay on their profits, we have the tax that all their staff pay in the ordinary way. We have the GST.
"Everyone should pay the right amount of tax."
