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QTFN Report

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We are an Investment body and we would be using the file transfer option to submit the QTFN file to ATO. We would be reporting for the first time in July for the quarter April – June 2020. I have a few questions on the QTFN reporting:

 

  1. For the first report, along with the investor records with TFN/TFN exemption, do we need to include records of investors who have not submitted their TFN? (For such records, the TFN field will reflect 000000000 as the investor has not submitted the TFN/TFN Exemption).
  2. From the subsequent quarters, we need to report those investor records which have the TFN/TFN exemption updated or corrected and the records of any new investors (with or without TFN/TFN Exemption)?

Could someone please respond to my uestions? A quick response would be much appreciated, Thank you!

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Devotee

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Hi @ssishtla 

By my understanding of the report, you don't have to include those investors who have not submitted their TFN.

You may find the answers at Quarterly TFN/ABN reporting.

"Investment bodies are required to lodge a Quarterly tax file number (QTFN) and Australian business number (ABN) report for any quarter in which they accept a new tax file number (TFN) or ABN quotation from an investor."

1 REPLY 1

Most helpful response

Devotee

Replies 0

Hi @ssishtla 

By my understanding of the report, you don't have to include those investors who have not submitted their TFN.

You may find the answers at Quarterly TFN/ABN reporting.

"Investment bodies are required to lodge a Quarterly tax file number (QTFN) and Australian business number (ABN) report for any quarter in which they accept a new tax file number (TFN) or ABN quotation from an investor."