Our $25 service fee is levied to cover the additional costs we incur to provide this payment option to our clients.
The pronouncements of our professional body require that any amounts received by our firm upon trust are held by us in a trust account.
When transacting upon this trust account we are required comply with the relevant documentation standards, both for the purposes of meeting our professional standards requirements, and, the requirements of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.
This account is also required to be independently audited each year to ensure that Austax, as the operator of the trust account, are complying with our professional and legal obligations.
These compliance requirements come at substantial cost which we partially recover by charging this fee to our clients who choose to pay using this method.