What are FID and BADT charges?
FID (Financial Institutions Duty) is a state government charge that applied to all deposits made before 30 June 2001. This charge no longer applies; however, it may still be recouped for deposits made before this date which mature after 1 July 2001. BADT (Bank Account Debits Tax) is a federal government tax applied to all accounts that have a cheque facility.