The report is due three months after the end of the income year unless we have given you more time to lodge. For trusts with a 30 June balancing date, this will be 30 September.
The Annual TFN withholding report is to be completed by the trustee of a closely held trust who has withheld amounts from payments to beneficiaries and who must report those amounts withheld to us.
Find out more
For more about your TFN withholding obligations for closely held trusts, including information regarding payments and distributions subject to the TFN withholding rules, refer to TFN withholding for closely held trusts.
When to withhold
If you are the trustee of a closely held trust, you must withhold from a payment you make to a beneficiary if the beneficiary has not quoted their tax file number (TFN) to you by the time you make the payment.
A payment is either:
- a distribution from the ordinary or statutory income of the trust
- a beneficiary's share of the net income of a trust where they are presently entitled to a share of trust income.
A beneficiary's present entitlement to trust income is usually determined at the end of the trust's financial year.
Sections 12-175 and 12-180 of schedule 1 to the Taxation Administration Act 1953 define payments for the purpose of these rules.
How much to withhold
You are required to withhold at the top rate of tax from payments made to beneficiaries that have not quoted their TFN, refer to the applicable tax table for the rate.
Where beneficiaries can find their TFN
Your beneficiary can find their TFN on any recent notice of assessment or TFN advice from us. If they use a tax agent or accountant and they cannot find a recent notice of assessment or TFN advice, their tax agent or accountant may be able to assist them. Alternatively, they can contact us.
Find out more
Completing the report
The following instructions will help you complete and lodge an Annual TFN withholding report.
If you are filling in the Annual TFN withholding report on screen, complete and print the report in one session (data entered cannot be saved when you close the file).
If you are filling in the report by hand, print clearly in BLOCK LETTERS using a black or blue pen.
Ensure you sign the declaration before sending the report to the address provided on the form.
If you make a mistake in the report
Complete a new Annual TFN withholding report if you have either:
- made a mistake in any of the amounts or other details in your original report
- amended amounts in the payment summary you issued to your beneficiary after you lodged the report.
When completing the new report, ensure to include the following:
- all of section A
- all of section B (but only for the beneficiary(s) in which a mistake had been identified in the original report)
- the declaration at section C.
Do not complete the report if you have not had to withhold. Reporting zero withholdings is not required on the report.
Get it done
The Annual TFN withholding reportThis link will download a file (NAT 73693, 375KB) is a fillable PDF that can be completed online, saved and printed. You will need to select each field to complete. If you prefer to complete by hand, print a blank copy of the form.
Section A: Closely held trust information
Income year ending
Complete the end date of your income year (for example, 30/06/2015).
Trust tax file number (TFN)
Complete the TFN of the closely held trust subject to the TFN withholding rules. To make an accurate and valid report, you must quote the closely held trust TFN.
Do not use the TFN of the trustee.
Name of trust
Complete the full name of the closely held trust.
Postal address
Complete the postal address of the closely held trust.
Full name of the trustee
Complete the details of the name of the trustee.
For trustees who are:
- individuals - complete the full details including family name and first name and any other given names
- a company - complete the full name of the company.
Include a daytime contact number in case we need to contact you.
Total of all gross payments or distributions subject to withholding
Complete by adding all label A amounts in 'Section B: Beneficiary information'.
If you have reported details for more than six beneficiaries, ensure you include them all in this total.
Total of all amounts withheld for the income year
Complete by adding up all label B amounts in 'Section B: Beneficiary information'.
If you have reported details for more than six beneficiaries, ensure you include them all in this total.
Section B: Beneficiary information
For each beneficiary who has had amounts withheld from payments/distributions, complete in full.
TFN
Complete the TFN of the beneficiary (if it has been provided to you).
Entity type
Print X in the appropriate box for the entity type of the beneficiary.
Entity details
Complete the following details for a beneficiary who is an individual:
- print X in the appropriate box for the beneficiary's title
- family and given names
- date of birth
- home/residential address (not a PO Box).
Complete the following details for a beneficiary who is a non-individual:
- full name of the entity
- Australian business number (ABN) - if applicable
- business address (not a PO Box).
Beneficiary postal address
Complete the postal details for the beneficiary.
If the postal address is the same as the home/residential or business address, do not write 'AS ABOVE' - complete the address in full.
Total of gross payments/distributions subject to withholding
At label A, write only the total of payments/distributions made to the beneficiary from which amounts were withheld.
Amounts withheld
At label B, write the amount withheld from payments/distributions reported at label A.
More than six beneficiaries
When lodging the Annual TFN withholding report by paper, if you have more than six beneficiaries to report, you must:
If completing the report on screen … |
If completing the report on paper … |
|---|---|
print the form after completing the details for six beneficiaries then reset the form and complete 'Section B: Beneficiary information' again (depending on the number of beneficiaries you need to report, you may have to repeat this action). |
photocopy 'Section B: Beneficiary information' for the required number of beneficiaries and complete the required information. |
Ensure you complete and lodge 'Section B: Beneficiary information' for each beneficiary you need to report to us. Do not attach any other schedules to the Annual TFN withholding report.
Section C: Declaration
The Annual TFN withholding report is a legal document and the law imposes penalties for giving false or misleading information.
The report is to be completed and signed by the trustee. A trustee may authorise a tax agent or other authorised person to complete and lodge the report on their behalf. This authority must be in the approved form.
Find out more
For more on authorised signatories and authorising another individual to sign documents, refer to PAYG withholding - authorised signatories.
To make the declaration, the following information must be completed:
- the name of the signatory
- the position held
- business hours phone number (in case we need to contact you)
- your registered tax agent's number (if applicable).
By signing the report, you are making a declaration that:
- you are authorised to complete it
- the information provided is true and correct.
For details about the personal information we collect from you see Privacy notice – Annual TFN withholding report.
Lodging the report
Keep a copy of the completed Annual TFN withholding report for your records and send the original and any additional beneficiary information pages to the address provided on the report.
When you must lodge the report
The report is due three months after the end of the income year unless we have given you more time to lodge. For trusts with a 30 June balancing date, this will be 30 September.
The report is due three months after the end of the income year unless we have given you more time to lodge. For trusts with a 30 June balancing date, this will be 30 September.