Providing us with your tax file number (TFN) is not compulsory. However we may withhold tax on interest paid if a TFN or an exemption is not provided.
Providing us with your tax file number (TFN) is not compulsory. However we may withhold tax on interest paid if a TFN or an exemption is not provided.
You can choose to update multiple eligible accounts by selecting which accounts you’d like to apply your TFN or TFN exemption to. For Cash Management Accounts and Term Deposits, you’ll need to update your TFN or TFN exemption separately by following the steps above.
Only available for Transaction Accounts, Savings Accounts and certain Business Savings Accounts.
For some accounts you can’t add your TFN or TFN exemption details online:
In some cases, it can take up to 3 business days for the accounts you select to be updated with your tax details. You will receive a notification via the bell icon in Macquarie Online Banking when your account details have been updated.
If withholding tax has been charged on your account, we’re unable to provide a refund. You’re able to claim the withholding tax back when you complete your tax return with the ATO.
If you’re a joint account holder, you can only update your own individual tax details.
We may withhold tax on interest paid if a TFN or an exemption is not provided by both account holders. If both account holders wish to update their tax details, each of you must log in with your own Macquarie ID and provide your own TFN or exemption.
We’re required to confirm your tax residency under the Foreign Account Tax Compliance Act (FATCA), and Common Reporting Standard (CRS).
If you’re a tax resident of a foreign jurisdiction you’ll need to provide Macquarie with your Taxpayer Identification Number (TIN) or TIN exemption reason. A TIN is an identifying number used for tax purposes to deal with the tax administration in a particular country.
We may contact you if we need to confirm your tax residency.
Existing customers can contact us at any time via chat in the Macquarie Mobile Banking app or Macquarie Online Banking. Our team will respond during business hours from Monday to Friday (excluding public holidays)
Please get in touch as soon as possible so we can work together to find the right solution for you.
Everyone at Macquarie is committed to providing our clients with the highest standard of products and services available. If you have feedback we would like you to tell us about it.