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The ATO has advised that on 16 November 2011 it began issuing letters to trustees who have lodged a TFN report from June 2011 onwards from which the ATO has been unable to identify the beneficiary.

If an agent receives one of these letters on behalf of a trustee client, they should obtain the correct details from the beneficiary and provide the ATO with a TFN report with updated details.

Where a beneficiary does not quote their TFN, or is taken not to have quoted their TFN, the trustee is required to withhold at the top marginal rate plus Medicare levy on any payments made to them from the trust.

The ATO says that where a TFN report has been lodged and a trustee does not receive a letter, trustees can consider their TFN reporting obligations to be met.


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