Bank Accounts in Oz
#16
BE Enthusiast
Joined: Jun 2008
Location: Sydney, Australia, but home to EU in 2009 for good!
Posts: 514
Re: Bank Accounts in Oz
Mikey
#17
Re: Bank Accounts in Oz
What way does the tax work on a bank account. If I lodge money into my account without a tfn, am I going to have to pay 42% tax on it?
#18
Re: Bank Accounts in Oz
shoot me down if i'm wrong but i understand if you don't have a tax no. you will get charged tax until you get the no. then you get back what you have paid tax on when you fill in your return.Not sure where the 42% tax bit comes from tho?
#19
Re: Bank Accounts in Oz
Cheers. I wonder if I can apply for a tfn and give a relatives address before I arrive in Oz. Or do you need to have a validated visa at the time of application? Also, do you know how long it takes to get a tfn?
#20
Re: Bank Accounts in Oz
you do your tfn online and you get it there and then but whether you can from UK or whether you need to validate first i'm sorry but I wouldn't know.You apply through the Aus. tax web site, sorry i don't know web address but would think it would come up on google easy enough.Think its www.ATO something. hope this helps.
#21
BE Enthusiast
Joined: Jun 2008
Location: Sydney, Australia, but home to EU in 2009 for good!
Posts: 514
Re: Bank Accounts in Oz
you do your tfn online and you get it there and then but whether you can from UK or whether you need to validate first i'm sorry but I wouldn't know.You apply through the Aus. tax web site, sorry i don't know web address but would think it would come up on google easy enough.Think its www.ATO something. hope this helps.
PS: If you have been in Oz before (like a working holiday) you still have the same TFN, it's the same number for life.
Mikey