Foreign Resident Tax Reporting

In July 2017, the Australian Government implemented the Common Reporting Standard (CRS) in order to reduce tax evasion. This means a change in the way that financial account information of foreign tax residents is collected, reported on and shared.

Tasmanian Perpetual Trustees is now required to identify and report the accounts of foreign tax residents to the Australian Tax Office (ATO), who then share this information with relevant international tax authorities.

We’ll be reviewing existing accounts for indications of customers that may be a tax resident in another country and if we think we need more information from you, we’ll be in touch. You’ll now also need to provide tax residency information when opening any new Tasmanian Perpetual Trustees accounts in future.

We’ll always continue to respect and protect your data privacy in line with our Privacy Policy and CRS regulations.

If you’d like more information, please get in touch or alternatively visit the ATO website.

More Information

1What is a tax resident?
Each country has different rules around tax residency, these rules can be based on the time you spend in the country, if you live there or if you work there.
2When do I provide my tax resident information?
Whenever you open a new account, or we ask you to provide it. Remember to let us know if your foreign tax resident circumstances change so we can keep the ATO up to date.
3What information will I be asked for?
Details of each country you are a tax resident in and your Tax Identification Number (TIN) for each country. Your TIN may be called something else in other countries, learn more here.
4How do I provide the required information or update my details?
You can either call us on 1300 138 044 or drop into a Tasmanian Perpetual Trustees branch.
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