Proving 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.
- Why do I need to add my TFN or TFN exemption?
- How do I add a TFN or TFN exemption in Macquarie Online Banking?
- How do I add a TFN or TFN exemption in Macquarie Mobile Banking app?
- Why can't I add my TFN or TFN exemption?
- How long does it take to update my TFN or TFN exemption?
- How do I claim back withholding tax?
- Can I update TFN or TFN exemption details for joint accounts?
- Why do I have confirm my tax residency?
Why do I need to add my TFN or TFN exemption?
How do I add a TFN or TFN exemption in Macquarie Online Banking?
- Log in to Macquarie Online Banking
- Hover over your account
- Select I want to
- Select Manage tax details in the menu drop-down
- Follow the instructions to add your TFN or TFN exemption to your eligible accounts.
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.
How do I add a TFN or TFN exemption in Macquarie Mobile Banking app?
Only available for Transaction Accounts, Savings Accounts and certain Business Savings Accounts.
- Log in to Macquarie Mobile Banking
- Select your account
- Select I want to
- Select Manage tax details in the menu drop-down
- Follow the instructions to add your TFN or TFN exemption to your eligible accounts.
Why can't I add my TFN or TFN exemption?
For some accounts you can’t add your TFN or TFN exemption details online:
- For Wrap accounts, please get in touch with your adviser to update your TFN or TFN exemption details
- If you hold a Business Savings Account in the name of an Australian Private Company, you’ll be prompted to send us an email with your company TFN or TFN exemption at digitalbusiness@macquarie.com.
How long does it take to update my TFN or TFN exemption?
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.
How do I claim back withholding tax?
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.
Can I update TFN or TFN exemption details for joint accounts?
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.
Why do I have confirm my tax residency?
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.
View, manage or update details
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Ways we accept signatures -
Viewing or updating your details -
Verifying your identity via certified documents
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Log in to Macquarie Online Banking or the Macquarie Mobile Banking app and chat with a consultant in real time, Monday to Friday, 9am to 5pm Sydney time (excluding public holidays).
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