Quoting your (TFN) is not compulsory, however we may withhold tax on interest paid if a TFN or an exemption is not provided.
You can add your personal tax file number (TFN) or tax file number exemption via Macquarie Online Banking or Macquarie Mobile Banking.
This feature is available for Macquarie Transaction, Savings and Business Savings 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.
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.
Please get in touch with your adviser to update wrap accounts.
Please note, if you hold a Business Savings Account in the name of an Australian Private Company, you can’t update your TFN online and you will be prompted to send us an email with your company TFN or TFN exemption at digitalbusiness@macquarie.com.
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.
Please note, if you are 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.
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).
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.
