Which Bank Account?

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(Initiate)Initiate

3 Mar 2025

Hello!

I am new a PR and I would like to ask two questions since I am new to Australian Taxation.

1. Which Bank Account I will link to my ATO Account?

- I opened two NAB Bank Accounts - Classic (daily card for taps) and Reward Saver (for savings). Which one should I add as my bank account?

I am living offshore, as of the moment and I am planning to move my overseas savings funds to Reward Saver Bank account.

2. In case it will gain interests should I lodge a Tax for this year even though I do not have income from employment?

Thank you!

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RachelATO

(Community Moderator)Community Moderator

4 Mar 2025

Hi @aljecabas,

You choose the bank account you want any tax refund to go to.

If you earn interest in a tax year from an Australian bank account, yes you need to lodge a tax return.

You can use our Do I need to lodge a tax return? tool if you're unsure.

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RachelATO

(Community Moderator)Community Moderator

4 Mar 2025

Hi @aljecabas,

You choose the bank account you want any tax refund to go to.

If you earn interest in a tax year from an Australian bank account, yes you need to lodge a tax return.

You can use our Do I need to lodge a tax return? tool if you're unsure.

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aljecabas

(Initiate)Initiate

4 Mar 2025

Hello!

Thank you for your response.

So, is it automatic report on my Profile regarding what to lodge?

I checked the tool and said "No lodged tax returns were found" what should I do?

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