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Tax on cheque account transactions
I see from the CBA pamphlets that NSW and Norfolk Island do not take tax on transactions made from a chequinf account.
Is this true or am I reading something in to the statement? It has been a consistent theme here that all cheque account transactions attract tax, regardless. |
The BAD (bank account debits tax). All states are due to phase out this tax although NSW is the only one to have done so already.
Most people I know do not use cheques anymore. I make all such payments by electronic banking and they could be made by phone banking. HSBC (much cheaper the CBA) offer a cheque book with their online savings account (at the moment the best value transaction account). I believe there is a charge per cheque but considering I need a cheque once every year having a separate cheqing account with monthly fees is daft. |
Originally posted by bondipom The BAD (bank account debits tax). All states are due to phase out this tax although NSW is the only one to have done so already. Most people I know do not use cheques anymore. I make all such payments by electronic banking and they could be made by phone banking. HSBC (much cheaper the CBA) offer a cheque book with their online savings account (at the moment the best value transaction account). I believe there is a charge per cheque but considering I need a cheque once every year having a separate cheqing account with monthly fees is daft. I don't pay any fees for having this facility, but would pay a $1.00 per cheque fee if I used one. Bank fees can be confusing as the States do different things. We have one credit card taken out originally in NSW, and Stamp Duty isn't paid, but we have another taken out in QLD, where stamp duty is paid. The fact that QLD is our address on both cards doesn't seem to make a difference. |
Thanks everyone - all seems to be clear now!
HSBC certainly seems to be the one to go for. I know it's been threaded before, but can I open an HSBC a/c online and give a relation's address in SYD? We are going on the validation trip at the end of the month so it's too late to get everything posted back to the UK. We could then go into HSBC and formalise evrything. |
Originally posted by Rog Williams Thanks everyone - all seems to be clear now! HSBC certainly seems to be the one to go for. I know it's been threaded before, but can I open an HSBC a/c online and give a relation's address in SYD? We are going on the validation trip at the end of the month so it's too late to get everything posted back to the UK. We could then go into HSBC and formalise evrything. I was in Sydney when I opened my online account, but gave an address in QLD and my mobile phone number, and collected my card etc in Sydney area. |
Originally posted by ABCDiamond I see no reason why you cannot do that. I was in Sydney when I opened my online account, but gave an address in QLD and my mobile phone number, and collected my card etc in Sydney area. |
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