Dear Sir/Madam,
A mother has opened saving account for her children 10 years old with the WBC bank.
Client do not receive full interest amount as the children do not TFN.
Can his mother register TFN for her children? If YES please guide how to register?
Can his mother claim TFN holding interest since opening account after register?
If NO, When & how can client claim TFN holding interest?
Many thanks
Hi @pngo,
Australian residents can apply for a TFN at any age.
We have a great page on how to apply you may find helpful.
When it comes to investment bodies, if TFN amounts have been withheld. You can claim the amount directly from the investment body in the financial year it is withheld. If that has passed and you now have a TFN. You can lodge a tax return for the year where the amounts were withheld.
Hi @pngo,
Australian residents can apply for a TFN at any age.
We have a great page on how to apply you may find helpful.
When it comes to investment bodies, if TFN amounts have been withheld. You can claim the amount directly from the investment body in the financial year it is withheld. If that has passed and you now have a TFN. You can lodge a tax return for the year where the amounts were withheld.
For Lodge a Tax Return to claim TFN holding, Can the children under 18 lodge a Tax Return?
Hey @pngo,
Yes, they certainly can lodge a tax return.
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