tax file number?

[Bladder]

Hi all,

We have put a deposit down for our money transfer, the house sale should go through in around 5 weeks, we move in 6 weeks.

We want to open a bank account in Australia before we leave here, so we can get the funds sent across, so its there when we arrive.

We have looked into it, but it seems that we need to provide a tax file number, (along with bits of I.D), but when we looked into it, it says that you can only obtain a TFN once you are actually IN Australia.

Any advise regarding setting up a bank account from here would be appreciated.

Rik

[Guest jordan]

Hi all,

We have put a deposit down for our money transfer, the house sale should go through in around 5 weeks, we move in 6 weeks.

We want to open a bank account in Australia before we leave here, so we can get the funds sent across, so its there when we arrive.

We have looked into it, but it seems that we need to provide a tax file number, (along with bits of I.D), but when we looked into it, it says that you can only obtain a TFN once you are actually IN Australia.

Any advise regarding setting up a bank account from here would be appreciated.

Rik

 

Have PM you.

 

stacey xx

[Guest Brissiebound]

Hi all,

We have put a deposit down for our money transfer, the house sale should go through in around 5 weeks, we move in 6 weeks.

We want to open a bank account in Australia before we leave here, so we can get the funds sent across, so its there when we arrive.

We have looked into it, but it seems that we need to provide a tax file number, (along with bits of I.D), but when we looked into it, it says that you can only obtain a TFN once you are actually IN Australia.

Any advise regarding setting up a bank account from here would be appreciated.

Rik

 

Hi Bladder,

 

I opened up an account with Commonwealth bank in London that links to an account wherever you are going (Brisbane in our case). The process was very quick, only took about two weeks check out http://www.migrantbanking.co.uk/ you just download and complete the application form and send a bank statement and utility bill and that's it. I am not sure how it works if you use another company for the transfeer though? Hope this helps.

 

Cheers n Beers

 

Steve

[Guest Tim]

My two bits worth..Westpac also have a migran bank account you can start from the UK..someone from the westpac lurks here occasionally and could point you in the right direction. Very efficient and fast - from memory took a day after faxing off forms!

 

All you need to do when arriving in Aust is go to bank and shown you passport - bank cards, cheque books etc will be there for when you arrive and providing you havve transferred soe cash over it will be available immediately with a bank card.

[Guest Pasty]

Hi

 

We set up a bank account with Wespac from the UK and it was so easy, just went in when we arrived and took our passports along and they activated them immediately. Took about 3 days for our cards to come thru.

 

Good luck

 

Jackie

[Bladder]

Thanks for your help,

We have arranged to set up a bank account with Westpac. We just need to sent the forms off, I can now strike that one from the list of 'to-do's!

Rik

[Alan Collett]

- As a non-Aussie tax resident there is no need to provide a Tax File Number.

 

- If you provide a UK mailing address to the bank the interest you receive on any deposits with Australian banks will be subject to a 10% withholding tax.

 

- You will probably have to declare the Australian-source interest on a UK Tax Return, with the 10% tax withheld claimed as a credit against the total liability on that income.

 

- Once you have moved to Australia though you will have to provide a TFN otherwise the interest will be subject to 46.5% tax.

 

- If you provide a TFN as an Aussie resident the interest will be paid to you on a gross basis. You then include the gross interest on your Aussie Tax Returns.

 

Hope this helps.