Opening bank account and getting TFN on reccie
#1
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Opening bank account and getting TFN on reccie
Mrs Buzzy is planning on opening an HSBC bank account and getting her TFN while we are on our reccie next month.
Couple of questions -
- Is her passport sufficient ID for the bank account? How does she prove an Oz address or doesn't she need to?
- Is it financially advantageous for her to supply a TFN for the bank account if we are not going to be Oz Tax residents yet?
- If she gets the TFN online, how do they know we are in Oz? Are the Tax office and Immigration computer systems linked? (just interested in the last one!)
Thanks for any advice
Buzzy
Couple of questions -
- Is her passport sufficient ID for the bank account? How does she prove an Oz address or doesn't she need to?
- Is it financially advantageous for her to supply a TFN for the bank account if we are not going to be Oz Tax residents yet?
- If she gets the TFN online, how do they know we are in Oz? Are the Tax office and Immigration computer systems linked? (just interested in the last one!)
Thanks for any advice
Buzzy
#2
Re: Opening bank account and getting TFN on reccie
Originally Posted by Buzzy--Bee
Mrs Buzzy is planning on opening an HSBC bank account and getting her TFN while we are on our reccie next month.
Couple of questions -
- Is her passport sufficient ID for the bank account? How does she prove an Oz address or doesn't she need to?
- Is it financially advantageous for her to supply a TFN for the bank account if we are not going to be Oz Tax residents yet?
- If she gets the TFN online, how do they know we are in Oz? Are the Tax office and Immigration computer systems linked? (just interested in the last one!)
Thanks for any advice
Buzzy
Couple of questions -
- Is her passport sufficient ID for the bank account? How does she prove an Oz address or doesn't she need to?
- Is it financially advantageous for her to supply a TFN for the bank account if we are not going to be Oz Tax residents yet?
- If she gets the TFN online, how do they know we are in Oz? Are the Tax office and Immigration computer systems linked? (just interested in the last one!)
Thanks for any advice
Buzzy
If you don't provide a TFN, there will be some tax withheld from the interest paid to you, wether or not you're tax resident. If you're only depositing the minimum of $2000 it's not a big deal. But once you've got a fair amount in your account, you will want to give them your TFN.
Yes, ATO and DIMIA do share some information:
When you apply online, the system will compare your personal and travel document details with those held on the DIMIA systems. If your details are validated by DIMIA, you will get a receipt number.
Source:
http://www.ato.gov.au/content/downloads/nat1753.pdf
Cheers,
Mrs JTL
#3
Re: Opening bank account and getting TFN on reccie
Originally Posted by Buzzy--Bee
Mrs Buzzy is planning on opening an HSBC bank account and getting her TFN while we are on our reccie next month.
Couple of questions -
- Is her passport sufficient ID for the bank account? How does she prove an Oz address or doesn't she need to?
- Is it financially advantageous for her to supply a TFN for the bank account if we are not going to be Oz Tax residents yet?
- If she gets the TFN online, how do they know we are in Oz? Are the Tax office and Immigration computer systems linked? (just interested in the last one!)
Thanks for any advice
Buzzy
Couple of questions -
- Is her passport sufficient ID for the bank account? How does she prove an Oz address or doesn't she need to?
- Is it financially advantageous for her to supply a TFN for the bank account if we are not going to be Oz Tax residents yet?
- If she gets the TFN online, how do they know we are in Oz? Are the Tax office and Immigration computer systems linked? (just interested in the last one!)
Thanks for any advice
Buzzy