Tax On My Oz Savings.?
Apr 19th 2004, 10:07 am
#1
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Thread Starter
Joined: May 2003
Posts: 240
Tax On My Oz Savings.?
Just had a look online, HSBC are deducting tax off my interest.
Im not resident yet, is this correct?
Im not resident yet, is this correct?
Apr 19th 2004, 10:08 am
#2
Joined: Aug 2003
Posts: 11,149
Re: Tax On My Oz Savings.?
Originally posted by itsasecret
Just had a look online, HSBC are deducting tax off my interest.
Im not resident yet, is this correct?
Just had a look online, HSBC are deducting tax off my interest.
Im not resident yet, is this correct?
Apr 19th 2004, 10:10 am
#3
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Joined: May 2003
Posts: 240
Re: Tax On My Oz Savings.?
Originally posted by bondipom
If you have not provided a TFN then this is correct.
If you have not provided a TFN then this is correct.
TFN??
Tax File Number? please explain. thanx
Apr 19th 2004, 10:19 am
#4
Joined: Aug 2003
Posts: 11,149
Re: Tax On My Oz Savings.?
Originally posted by itsasecret
TFN??
Tax File Number? please explain. thanx
TFN??
Tax File Number? please explain. thanx
Apr 19th 2004, 10:21 am
#5
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Joined: May 2003
Posts: 240
Re: Tax On My Oz Savings.?
Originally posted by bondipom
That is correct. Aussie banks deduct tax for you if you have not provided a tax file no.
That is correct. Aussie banks deduct tax for you if you have not provided a tax file no.
Apr 19th 2004, 10:29 am
#6
Joined: Aug 2003
Posts: 11,149
Re: Tax On My Oz Savings.?
Originally posted by itsasecret
but i cant have a TFN because im not resident.? so I guess they take it off you then you claim it back once you get to oz, is this correct?
but i cant have a TFN because im not resident.? so I guess they take it off you then you claim it back once you get to oz, is this correct?
Apr 19th 2004, 6:38 pm
#7
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Joined: Mar 2003
Posts: 9,397
Re: Tax On My Oz Savings.?
Originally posted by itsasecret
but i cant have a TFN because im not resident.? so I guess they take it off you then you claim it back once you get to oz, is this correct?
but i cant have a TFN because im not resident.? so I guess they take it off you then you claim it back once you get to oz, is this correct?
If you're not a resident you can register as such and they take 10% witholding instead of income tax.
You pay tax on the interest in the UK and the witholding is offset against the UK tax.
If you are going out soon it might not be worth the hassle though.
