Trust TFN Reporting

yw0830

想问一下， 一个 Trustee Company 下有一个 Family Trust，需要为所有的 beneficiaries 预先填报 TFN Report 吗？



Is it compulsory?

pgltaxation82

TFN report

The TFN report is to be completed by the trustee of a closely held trust to report tax file numbers (TFNs) and other personal details quoted to them by beneficiaries of the trust.

Find out more

About your TFN withholding obligations for closely held trusts, including the definition of a closely held trust, refer to TFN withholding for closely held trusts
End of find out more
When you must lodge the report

You must lodge a TFN report for a quarter in which a beneficiary quotes their TFN to you. The report is due by the last day of the month following the end of the quarter in which the TFN was quoted. For example, if a TFN was quoted in the July-September quarter, the report would be due on or before 31 October.

Only lodge a report for a quarter in which you have information to report.

DangerDo not lodge a TFN report containing information previously reported unless we have notified you that the information provided was incorrect or missing.
End of danger

Keep a copy of the completed report for your records and send the original to the address on the form.

Get it done

The TFN report (NAT 73651, 362KB) is a fillable PDF that can be completed online, saved and printed. You will need to select each field to complete. If you prefer to complete by hand, print a blank copy of the form.
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How a beneficiary quotes their TFN

A beneficiary quotes their TFN when they provide you with their:
•TFN
•full name
•date of birth (individuals only)
•postal address
•residential address for individuals (not a PO Box or private mailbag)
•business address for non-individuals (not a PO Box).

There is no prescribed format for the provision of this information. Beneficiaries may provide this information either verbally or in writing (including an electronic format) to the trustee to meet the requirements.

Beneficiaries subject to the TFN withholding rules

The TFN withholding rules apply to most beneficiaries of closely held trusts, including a company, individual, partnership, self-managed super fund, super fund or trust.

Beneficiaries not subject to the TFN withholding rules include:
•beneficiaries of a closely held trust, that is a unit trust, and already subject to other TFN withholding rules
•non-residents for tax purposes
•exempt entities as defined in the tax laws such as tax concession charities, deductible gift recipients and other entities that self-assess their status as income tax exempt
•beneficiaries under a legal disability (for example, minors).

What we do with the information provided in the report

We will match the information provided in the TFN report against our records.

If the information provided in the report does not match our records (for example, an incorrect TFN) we will notify you by letter.

If you receive a letter, you should check your records. You may also need to contact the beneficiary for the correct details.

Where the beneficiary provides you with updated details, you must report this in a report for the quarter in which you received them.

If the beneficiary chooses not to quote their TFN and personal details to you, or you are advised by us they are considered not to have quoted their TFN, you must withhold from any payments or distributions made to them at the top rate of tax (refer to tax tables for current rate).

If you make a mistake in the report

You can correct any mistakes by obtaining the correct information and lodging it in a new TFN report.

yw0830

What types of trusts would be closely held trust?

yw0830

pgltaxation82 发表于 2016-5-4 09:51
TFN report

The TFN report is to be completed by the trustee of a closely held trust to report tax ...

I have read this from ATO Website already.

rockyji

yw0830 发表于 2016-5-8 19:52
What types of trusts would be closely held trust?

Family Trust.