Alan Collett Posted February 18, 2017 Share Posted February 18, 2017 I paid my own bond as my daughter couldn't the interest is paid into her account and she pays tax on it. Can the interest be paid into my own account instead? It's already lost me about $600 so far I don't think it's fair. I think you should be discussing the issue with your daughter, rather than on an internet forum. You are more likely to get the outcome you are seeking that way ... Best regards. Link to comment Share on other sites More sharing options...
annalong Posted February 18, 2017 Share Posted February 18, 2017 Sorry Alan I wasn't complaining about my daughter, I just want to know if the interest can be paid direct to me so she doesn't have to pay tax on it, as I don't pay tax with me being 72yrs. Thank you for any information . annalong. Link to comment Share on other sites More sharing options...
Alan Collett Posted February 18, 2017 Share Posted February 18, 2017 Sorry Alan I wasn't complaining about my daughter, I just want to know if the interest can be paid direct to me so she doesn't have to pay tax on it, as I don't pay tax with me being 72yrs.Thank you for any information . annalong. Ah - OK! I think the interest is properly taxable in your daughter's name, as she is the account holder. Best regards. Link to comment Share on other sites More sharing options...
Tulip1 Posted February 18, 2017 Share Posted February 18, 2017 Surely to have lost €600 already your daughter would have had to have got over €2k in interest? You're only losing the tax paid on the interest which is a small chunk of the interest. I do get what you're saying though but I can't imagine there is any way for you to get that back as its your daughter that has to lodge to assurance of support regardless to where she gets it from. Expect most actually come from the parent themselves. You're still getting more than if that money would be in a savings account in the uk! Link to comment Share on other sites More sharing options...
Freesia Posted February 19, 2017 Share Posted February 19, 2017 Annalong my AoS bond is 2 years in now - although it's in my daughter's name I paid it myself, so the interest is diverted into my own savings account , around $800 so far. I would advise you to contact the Commonwealth Bank who hold the Bond & in turn they might need you to liaise with Centrelink . Link to comment Share on other sites More sharing options...
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