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Forum: Australia

Jan 22nd 2011, 3:50 am

Replies: 32

Savings and Interest

Views: 2,582

Posted By swans

Re: Savings and Interest

Perhaps you are looking at it the wrong way.You have the use of the tax money for the full year.Leave it in the bank and get interest on it.

Thus, say your tax bill is 10K,at 6% you will get...

Forum: Australia

Jan 22nd 2011, 3:25 am

Replies: 32

Savings and Interest

Views: 2,582

Posted By swans

Re: Savings and Interest

Correct,it is not against the law to withold your TFN,but if you do not give it then you are taxed at the highest rate + medicare levy.The bank will withold that money and you would need to claim it...

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