The tax applied to all debits on accounts held in Queensland with financial institutions where the account had cheque drawing facilities and included cash, cheque, ATM and EFTPOS withdrawals.

The rate of tax varied according to the amount of each debit, but the maximum rate was $4 for debits over $10,000.

The debits tax legislation provided exemption to certain eligible organisations, including:

• public benevolent institutions (charities)
• religious institutions
• public hospitals and non profit private hospitals
• nonprofit universities, colleges or schools (including kindergartens)
• certain support groups for eligible exempt organisations
• Commonwealth or state government departments or authorities or local government bodies provided that the body does not carry on any activities in the nature of a business.

Applying for exemptions and refunds

While debits tax is now abolished, there may be circumstances where an exemption or refund may apply to debit taxes paid on or prior to 30 June 2005 (a 'pre-repeal debit').

For example:

• a person may apply, on or after 1 July 2005 for a certificate of exemption or an account certificate, for a tax payment exemption on an account or class of accounts to which a pre-repeal debit was made

or

• a person may seek a refund for the tax paid on or after 1 July 2005 in relation to a pre- repeal debit.

To apply for an exemption, complete a Form DT 2 - Application for exemption from payment of debits tax form.
To apply for a refund, complete a Form DT 3 - Application for refund of debits tax form.

Forward your completed form, together with your financial institution's statements evidencing the debits tax paid on the pre-repeal debit to:

The Office of State Revenue
BBC-Duties Branch
GPO Box 2475
BRISBANE QLD 4001