South Australian Consolidated Acts South Australian Consolidated Acts29—Financial institutions duty
(1) Subject to this
Act, a financial institution that receives money during a month is liable to
pay financial institutions duty in respect of each such receipt to which this
Act applies.
(2) The amount of
financial institutions duty payable by a financial institution in respect of
each receipt of money is—
(a)
the prescribed percentage of the money received; or
(b)
$1 200,
whichever is the less.
(3)
Subsection (1) does not apply to a non-dutiable receipt.
(4) A
financial institution is not liable to pay duty under this section in respect
of the receipt of money during a month if it is not registered under this Act
and is not required to be so registered.