When is Withholding Tax deducted?
Last updated 26 May 2017
Withholding Tax is deducted when we make an interest payment into your account.
Withholding tax may apply to interest earned on your account(s) unless you’ve provided us with your ABN, Tax File Number (TFN) or TFN exemption or if you have an overseas residential address. 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.
Go to Interest & tax summary in NetBank to check you’ve told us your TFN or TFN exemption and see if we’ve withheld tax.
If you’d like to tell us your ABN, call us on 13 2221 or visit your local branch.