What is withholding tax?
Withholding tax is a tax that may apply to the interest earnt on your accounts if you have not supplied us with your TFN or ABN or you have an overseas home address.
You’re not obliged to provide us your TFN or TFN exemption but if you don’t or if you have an overseas home address, we’re required by law to withhold tax.
The money we withhold is paid to the Australian Taxation Office (ATO).