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Jueglittergirl

Scenario question

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The scenario goes like this.....House sale proceeds are deposited in pre opened Australian bank account as we fly through the air. We arrive to identify ourselves and gain access to funds. However as I look at the online application form it request the TFN to avoid high tax charges, but I thought you could only apply for TFN once in Australia, so how do you avoid paying the high tax charge?

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The scenario goes like this.....House sale proceeds are deposited in pre opened Australian bank account as we fly through the air. We arrive to identify ourselves and gain access to funds. However as I look at the online application form it request the TFN to avoid high tax charges, but I thought you could only apply for TFN once in Australia, so how do you avoid paying the high tax charge?

 

Not a problem. When you validate the account in Oz, you tell them you haven't got one yet. Just drop it in at local branch later.

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Not a problem. When you validate the account in Oz, you tell them you haven't got one yet. Just drop it in at local branch later.

 

you can also claim back any over paid tax in your tax return, so you should get it back if you do end up paying.

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