From the devastation of WWII, former enemies Australia and Japan forged a powerful bond in an act of reconciliation that has paid off, Malcolm Turnbull says.

One of the last surviving WWII Darwin bombing veterans remembers the day war came to Australia's backyard on the wings of 188 Japanese planes a lifetime ago.

Australia's alliance with the US was forged by combined sacrifice in battles such as the Darwin bombing and it remains rock solid, the prime minister says.

Labor leader Bill Shorten says the prime minister is fighting hard to defend the banks from a royal commission while giving them a huge tax giveaway.

Sunday marks the 75th anniversary of the Japanese bombing of Darwin, and evacuee Wendy James remembers fleeing at age six before war came to Australian soil.

One of the last surviving WW2 Darwin raid veterans can still picture the sun glinting off the bombs like confetti as hell rained down on the city 75 years ago.

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