Where the application includes a request for a new Credit Card, the applicant's Tax Residency details are required. Loanapp captures detail of the Tax Residency of your applicants in the Credit Card sub-section of the Loan Section:
Most applicants will be tax residents of Australia only, and therefore enter No, Australia only to the question "Tax residency outside of Australia?":
Where the answer is No, Australia only - no further detail is required
Where the answer is Yes, some new fields are required to be completed including
Country of foreign tax residency:
The Foreign Tax Association Status:
Where Provided, a TIN (Tax Identification Number) needs to be entered:
Where Not Provided, a reason needs to be given:
Note that some countries do not issue TINs - therefore you will be unable to provide one. If you select one of the countries known not to issue TINs, the Reason of 'TIN not issued' will be allowed:
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Following are the Reason Codes for not providing TIN:
Reason Code with Description | Further detail |
A- TIN Not Issued | This country doesn’t issue tax numbers |
B - TIN Not Required | This country doesn’t require tax numbers |
C - TIN Applied For | I’ve applied for one and will inform you upon receipt |
Z - TIN Unobtainable | I am unable to obtain a tax number |