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Australian Bank a/c

Practical Issues
feder1
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Australian Bank a/c

#171373

Postby feder1 » October 4th, 2018, 11:27 am

I am a British Citizen paying UK taxes and have a current a/c in Australia for holidays with several hundred dollars in it.

They now ask me to provide Foreign Tax Residency details and Tax Identification Number.

Firstly I don't know what a TIN is and secondly I wonder if there likely to be any unforeseen problems in which case it may be better to close the Aus a/c?

Thanks.

genou
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Re: Australian Bank a/c

#171468

Postby genou » October 4th, 2018, 6:51 pm

feder1 wrote:I am a British Citizen paying UK taxes and have a current a/c in Australia for holidays with several hundred dollars in it.

They now ask me to provide Foreign Tax Residency details and Tax Identification Number.

Firstly I don't know what a TIN is and secondly I wonder if there likely to be any unforeseen problems in which case it may be better to close the Aus a/c?

Thanks.


I assume that your Tax Residence is UK. Your TIN for UK purposes is your National Insurance number. If you have been reporting / continue to report any interest arising on the account to HMRC, then there are no issues arising from this, and you might as well keep the convenience of the account.


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