What is a Tax File Number?
A Tax File Number is a unique 9-digit number issued by the Australian Taxation Office. For full information about Tax File Numbers, including how to obtain one, please visit the Australian Taxation Office website.
Why should I provide my Tax File Number?
You don’t have to provide your Tax File Number or an exemption, but if you don’t, we are required by law to deduct tax from any interest earned on your account above a certain threshold. This tax is called 'withholding tax'.
While it isn't an offence to not provide your Tax File Number, keeping your Tax File Number status up-to-date can make tax time a little easier. For more information about Tax File Numbers and withholding tax, please visit the Australian Taxation Office website.
How can I add or update my Tax File Number?
It’s easy - simply log on to NetBank, go to the More tab, select Manage my accounts, then Update my Tax File Number. Here, you can:
- Provide your TFN.
- Apply a TFN that you’ve already applied to another account.
- Provide a TFN exemption.
- Check the TFN status of all of your eligible accounts to make sure everything is up to date.
You can also manage your TFN by calling 13 2221 at any time or by visiting any branch.
Is my Tax File Number (TFN) secure in NetBank?
For your security, once you have provided your Tax File Number (TFN), you will not be able to view it again in NetBank. Remember to always keep your NetBank log on details secure, and to immediately notify us if you lose your NetBank password or notice any suspicious activity on your account.
How can I find out if my Tax File Number status is up to date for all of my accounts?
It's easy, simply log on to NetBank, go to the More tab, select Manage my accounts, then Update my Tax File Number. You can check your Tax File Number for each of your eligible accounts, and update if required.
Remember, you need to apply a Tax File Number or exemption for each of your accounts.