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Are financial institutions duty (FID) and bank account debits tax (BAD or BADT) subject to GST?

April 26, 2017bad BADT bank account debits duty FID financial institutions GST Subject tax

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Are financial institutions duty (FID) and bank account debits tax (BAD or BADT) subject to GST?

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FID and BAD (or BADT) are not subject to GST. They are excluded from GST by the Treasurer’s Determination under Division 81 of the GST Act. FID will be abolished from 1 July 2001. BAD (or BADT) will be abolished from 1 July 2005.