|
Banking and Tax: Debit Tax: Only NSW government don't charge debit tax. I suggest that for those of you who use HSBC online saving as your daily banking, if you have chance to come to Sydney, open an account here. You would save around AUD10+ each month.(btw, your residential address can be in other states rather than NSW) Story: I have moved from Melbourne to Sydney with two accounts. one is commbank....the other is hsbc.... once i have changed my address from melbourne to sydney...I have not been charged any debit tax on my commbank account. however on my hsbc account, the debit tax is still charged even I have sydney address. I think different banks have different way to treat clients....commonwealth bank banking system automatically consider you have nsw resident as long as you have sydney address. but hsbc does NOT  ...so i have applied another hsbc account and close the one which opened in melbourne... How much tax is payable? The amount of Debits Tax charged depends on the value of each debit transaction to your account. The current rates of Debits Tax are as follows: QLD SA VIC WA NSW $0 to less than $1 Nil Nil Nil Nil Nil $1 - less than $100 $0.30 $0.30 $0.30 $0.30 Nil $100 - less than $500 $0.70 $0.70 $0.70 $0.70 Nil $500 - less than $5,000 $1.50 $1.50 $1.50 $1.50 Nil $5,000 - less than $10,000 $3.00 $3.00 $3.00 $3.00 Nil $10, 000 and over $4.00 $4.00 $4.00 $4.00 Nil Please visit following web page for details: http://www.hsbc.com.au/commercial/government/debits.html [ Last edited by richstudio on 2005-3-19 at 02:42 PM ] |
