See Table 1 below for the rate in your State. This is a tax on each debit from an account with a cheque facility. Rates are tiered according to the amount withdrawn. DT exists in every State and Territory in Australia and rates vary from State to State. Check Table 2 below for your State's rate.
Banks collect the tax from account holders and forward the money to State tax offices.
The important thing to remember is that financial transaction taxes are separate from other bank fees. The amount you pay depends on several variables, including where you live, the number of withdrawals you make and the amount you take out per withdrawal. Where the account has a cheque facility, the cost of Debits Tax is five times greater than the amount of interest earned. The best way to control the cost of government financial transaction taxes is to understand how they are charged and structure your banking to avoid them. Here a few suggestions.