We want to make sure you have all the things you need from us to get your tax return ready to roll. You’ll have your group certificate and receipts to claim work expenses but there’s something you should do before 30 June.
Have you provided us with your Tax File Number (TFN)?
If we don’t have your TFN we are required to deduct withholding tax from any interest that you may have earned on your deposit accounts.
If this has occurred, and the withholding tax has not been refunded back to you, we can refund the withholding tax once your tax file number has been quoted.
But hurry, we can only do this before 30 June. After 30 June any withholding tax will need to be claimed through your annual tax return.
What’s a Tax File Number (TFN)?
A TFN is a unique nine-digit number that’s used to identify you in all tax and superannuation records. You may have supplied this when you opened your MyState Bank account(s).
Do you have a TFN?
If you’re not sure whether you have a TFN please visit the Australian Tax Office website. There you can apply for a new TFN, find your lost TFN and update your details. You can also log into my.gov.au and attach your ATO account to your profile.
Some people, like certain pensioners and most people aged under 16, can claim a TFN exemption, but you should get in touch with the ATO to check your eligibility.
Where can you find your eStatements to check how much interest you’ve earned?
You can log into your internet banking by opening a browser and going to mystate.com.au or using your mobile app and find the eStatements tab from the menu. Fill in the date search fields, hit Search and the results will appear for you. You can download the documents as a PDF which you can save or print out.
You can also check interest earned by selecting the details button on your account in Internet Banking. Very handy to track how much interest you earn throughout the year! To quote your TFN, or to request a refund of withholding tax, please contact us through secure message on the app or internet banking or call and speak to a human via our friendly local Customer Care Team on 138 001.