The ASX has communicated to all market participants of an industry-wide ASX settlement failure that occurred on Friday the 20th of December. This failure has meant that CHESS was not able to complete market settlement on Friday and has deferred settlement to Monday the 23rd of December. For those clients who had sell trades settling on Friday we have ensured those sale proceeds have been made available to you for trading on Monday. Stock delivery for clients who had buy trades settling will need to wait until Monday before the shares become available to sell. We apologise for any inconvenience this ASX outage has caused.
Why do I need to provide a Tax File Number?
It's not compulsory for you to tell us your TFN, Australian Business Number (ABN), or exemption code (if you have one). However, it is important to supply it for a number of reasons:
Withholdings Tax on interest earned
- If you don't provide your TFN, we may need to deduct Pay As You Go (PAYG) withholding tax at the maximum marginal tax rate (plus the Medicare levy) from any interest you earn on your cash products. You might be able to reclaim the withholding tax in your next tax return, however you should seek professional tax advice to confirm this as nabtrade is not a tax specialist.
International Trading
- Should you want to trade international stocks with nabtrade, it is a requirement that you supply your TFN to prove that you are an Australian Resident for tax purposes.
- If you do not want to supply your TFN you will still be able to trade standard domestic securities.
HELPFUL HINT: Should you have more than one nabtrade account, you will need to add each corresponding TFN to your nabtrade accounts. To check to see if your TFN is held by nabtrade, log into your nabtrade account and go to Admin > Personal Details. If your TFN is not held, please enter it online by clicking Edit.
For security and privacy purposes, please do not email us your TFN.
