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What beneficiaries need to do

Last updated 26 January 2021

Decide whether to quote your TFN

It's your decision. You're not required to quote your TFN to the trustee, but if you don't the trustee may be required to withhold the top rate of tax from any payments to you or from any of your unpaid entitlements.

You can apply for a TFN if you don't have one.

How to quote your TFN

To quote your TFN to the trustee, you need to provide your:

  • TFN
  • full name
  • date of birth (individual beneficiaries only)
  • postal address
  • business or residential address
  • entity type
  • ABN if you have one (non-individual beneficiaries only).

There is no prescribed format for providing this information. You can do it verbally or in writing (including electronically).

Unless your details have changed, the information you provide to the trustee should be the same as the information you provided to us on your most recent tax return. This helps us match your TFN and other personal details to our records, which reduces the likelihood of the trustee being notified that the TFN or other details are incorrect and that they will be required to withhold from future payments and unpaid entitlements.

If the trustee withholds

If the trustee has withheld an amount because you didn't quote your TFN, you should lodge an income tax return showing your share of the trust net income and the amount withheld by the trustee.