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Why Tax File Number Tax still deducted when TFN already with bank

Posted by SKS786 SKS786
Message 1 of 2 1,366 Views

I have Kids Saver Accounts with Bankwest for the last few years. For the last two months, Bankwest has suddenly started deducting Tax File Number Tax when it was never done in the past and Bankwest already has Tax File Number in their record.

I am not sure why the bank is deducting tax from my high school kids' bank accounts when they have no income as they are studying. 

Even Bankwest Customer Service has no answer why this TFN Tax deducted when TFN is still with the bank and they are just passing the buck to ATO. Frustrating.

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Re: Why Tax File Number Tax still deducted when TFN already with bank

Posted by DanaeC DanaeC
Message 2 of 2 1,365 Views

Hi @SKS786, thanks for getting in touch, and sorry for the run around you seem to have had with this enquiry. I'd like to take a look further into this for you, if you could please send your full name, Forum username and best contact number to, I'll set up a call to see if we can get to the bottom of what's happening here. Thank you. 

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