British Expats - Savings Bank Account

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- - Savings Bank Account (https://britishexpats.com/forum/barbie-92/savings-bank-account-521993/)

Oz-bound

Mar 15th 2008 9:59 pm

Savings Bank Account

Does anyone know whether a non Aussie resident/citizen can open a savings account here (as much better interest rate at the moment than UK) and if so what the tax implications might be? Thanks!

NedKelly

Mar 15th 2008 10:13 pm

Re: Savings Bank Account

A non-aussie/non-citizen/non-resident can open a savings account here.

You will pay a withholding tax which I believe is 15%. This can be normally be offset against any tax you will pay in the UK or wherever but check this with your accountant as it depends on your particular situation.

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