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Why do I need to provide a Tax File Number?

It's not compulsory for you to tell us your TFN, Australian Business Number (ABN), or exemption code (if you have one). However, it is important to supply it for a number of reasons:

  • Withholdings Tax on interest earned
  • If you don't provide your TFN, we may need to deduct Pay As You Go (PAYG) withholding tax at the maximum marginal tax rate (plus the Medicare levy) from any interest you earn on your cash products. This withholdings tax can be reclaimed in your next tax return.
  • International Trading and mfund Trading
  • Should you want to trade international stocks or mfunds with nabtrade, it is a requirement that you supply your TFN to prove that you are an Australian Resident for tax purposes.
  • If you do not want to supply your TFN you will still be able to trade standard domestic securities.

HELPFUL HINT: Should you have more than one nabtrade account, you will need to add each corresponding TFN to your nabtrade accounts. We can enter your TFN's over the phone, by calling us on 13 13 80.