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Withholding tax may apply to interest earned on your account(s) unless you've provided us with your Tax File Number (TFN) or TFN exemption.
Qudos Bank is authorised under the Income Tax Assessment Act to collect TFNs of account holders. 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).
To check that you've supplied your TFN, login to Online Banking, click on settings from the dashboard menu, and select “supply tax file number”.
To find out what tax was withheld you can find this information within the Mobile App under account details, within Online Banking under interest details, or on your statements.
We respectfully acknowledge the Traditional Custodians of all the lands on which we live and work, and we pay our respects to Elders past and present. We recognise their continued connection to the land, waters and culture and we acknowledge that sovereignty has never been ceded. Our head offices are located on the land of the Wurundjeri Woi Wurrung people of the Kulin Nation in Victoria, and the land of the Gadigal people of the Eora Nation in New South Wales.
We are an equal opportunity employer that celebrates the diversity, equity and inclusion of all people.
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