109-119 11 Investor Australian Business 12345678901 ABN of the Number trust 120-195 76 Account name ABC Family Trust 196-225 30 Investor surname Blank – 226-240 15 Investor first given name 241-255 15 Investor second given name 256-263 8 Investor date of birth (DDMMCCYY) 264-264 1 Filler 265-464 200 Non-individual investor name ABC Family Trust Trust name The name is not reported for formal trusts. trustee’s Example of reporting for an informal trust An account is opened by William Bruce Brown on – behalf of his son Rusty. There is no formal trust and Mr. Brown quotes his own TFN. The relevant fields in the Investor data record would be reported as shown below: Character Field Field name Content Explanation position length 99-99 1 Investor entity type I I = Individual 100-108 9 Investor Tax file number 321456789 TFN of trustee 109-119 11 Investor Australian Business 00000000000 No ABN Number 120-195 76 Account name William Bruce Full name of Brown as trustee account for Rusty Brown 196-225 30 Investor surname Brown Name of trustee 226-240 15 Investor first given name William 241-255 15 Investor second given name Bruce 256-263 8 Investor date of birth 24041952 DOB of trustee (DDMMCCYY) 264-264 1 Filler 265-464 200 Non-individual investor name Blank (individual) Reporting of accounts held by partnerships In practice, the determination of whether a formal partnership arrangement exists can be on the existence of a partnership agreement, whether the partnership entity is required to lodge an income tax return and has a partnership TFN/ABN. On the other hand, if there is no partnership entity for tax purposes, such as a joint account between two or more individuals, then separate individual TFNs would generally have been quoted by each of the partners. Arrangement Reporting requirement
109-119 11 Investor Australian Business Number 12345678901 ABN of the trust 120-195 76 Account name ABC Family Trust 196-225 30 Investor surname Blank – 226-240 15 Investor first given name 241-255 15 Investor second given name 256-263 8 Investor date of birth (DDMMCCYY) 264-264 1 Filler 265-464 200 Non-individual investor name ABC Family Trust Trust name The trustee’s name is not reported for formal trusts. Example of reporting for an informal trust – An account is opened by William Bruce Brown on behalf of his son Rusty. There is no formal trust and Mr. Brown quotes his own TFN. The relevant fields in the Investor data record would be reported as shown below: Character position Field length Field name Content Explanation 99-99 1 Investor entity type I I = Individual 100-108 9 Investor Tax file number 321456789 TFN of trustee 109-119 11 Investor Australian Business Number 00000000000 No ABN 120-195 76 Account name William Bruce Brown as trustee for Rusty Brown Full name of account 196-225 30 Investor surname Brown Name of trustee 226-240 15 Investor first given name William 241-255 15 Investor second given name Bruce 256-263 8 Investor date of birth (DDMMCCYY) 24041952 DOB of trustee 264-264 1 Filler 265-464 200 Non-individual investor name Blank (individual) Reporting of accounts held by partnerships In practice, the determination of whether a formal partnership arrangement exists can be on the existence of a partnership agreement, whether the partnership entity is required to lodge an income tax return and has a partnership TFN/ABN. On the other hand, if there is no partnership entity for tax purposes, such as a joint account between two or more individuals, then separate individual TFNs would generally have been quoted by each of the partners. Arrangement Reporting requirement
Final_clean_QTFN_v6.2.1.docx