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What happens if I don’t tell you my Tax File Number (TFN) or ABN?

See all Tax FAQs

Last updated 26 May 2017

Withholding tax may apply to interest earned on your account(s) unless you’ve provided us with your ABN, TFN or TFN exemption. You’re not obliged to provide your ABN, TFN or TFN exemption but if you don’t, we’re required by law to withhold tax.

The money we withhold is paid to the Australian Taxation Office (ATO).

Anyone over 16 who has earned more than $120 interest p.a. will have tax withheld if they haven't told us their ABN, TFN or TFN exemption.

Anyone under 16 who has earned $420 or more in interest p.a. will have tax withheld if there’s no TFN linked to the account. If the account’s held by their parent (not as a formal trust), the parent may quote their TFN. If there’s a formal trust, the TFN for that is used instead.

And if you’re a non-resident we’re required to withhold tax.

Go to Interest & tax summary in NetBank to check you’ve told us your TFN or TFN exemption and see if we’ve withheld interest.

If you’d like to tell us your ABN, call us on 13 2221 or visit your local branch.

See our latest tax tips


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