ANU International Students: How to Apply for a Tax File Number and Open a Bank Account

25 February 2026 14 min read

Australian tax law treats any individual who lives in Australia for more than 183 days (including international students on student visas) as a resident for tax purposes, which means they must apply to the Australian Taxation Office (ATO) for a personal Tax File Number (TFN). According to 2024 data from the Australian Department of Home Affairs, Australia is home to more than 720,000 international students, and international students account for about 40% of the student population at the Australian National University (ANU). For ANU international students, getting a TFN and opening an Australian bank account are two basic administrative steps for working legally, paying tuition, and managing everyday expenses. An ATO 2024 report points out that students who do not apply for a TFN face a withholding rate of 47%, far higher than the tax-free threshold that applies once you hold a TFN (the personal tax-free threshold for the 2024-25 financial year is AU$18,200). This article systematically sets out the legal process, required documents, and common questions for ANU international students applying for a TFN and opening a bank account.

Applying for a Tax File Number (TFN)

Eligibility and Timing

International students holding an Australian student visa (Subclass 500) can apply for a TFN as soon as they arrive in Australia. The ATO requires that applicants hold a valid visa and be physically present in Australia. Applications are normally processed within 28 calendar days, but during peak periods (July-August and January-February each year) processing can stretch to 42 days. According to the ATO’s 2024 Guide to Applying for a Personal TFN, students should submit their application at least 4 weeks before starting work so their employer does not apply the top withholding rate.

Online Application Steps

Applications are completed through the ATO’s official online system (ATO Online) — there is no need to visit a physical office. The steps are: go to the ATO website, choose “Apply for a TFN” and select the “International student” category; fill in your passport details, Visa Grant Number, Australian address and contact information; after submitting, the system generates an Application Reference Number, which you use for follow-up enquiries. The application is free — any website that charges a fee is not an official channel. ATO data for 2024 shows that about 92% of applications are approved within 21 days.

What to Do After Receiving Your TFN

Your TFN is posted as a paper letter to the Australian address on your application; it is not usually sent by email. Once it arrives, give your TFN to your employer (for payroll tax withholding) and to your bank (so interest income is not withheld at the top rate). Students who do not provide their TFN to their bank have interest on their deposits withheld at the 47% top marginal rate instead of being able to use the tax-free threshold. ATO statistics for 2024 show that about 15% of international students lost interest income because they did not provide their TFN in time.

Bank Account Types and Choosing a Bank

Common Account Types

Australian bank accounts come in two main types: transaction accounts and savings accounts. Transaction accounts are for everyday spending, paying tuition, and receiving wages, and usually come with a debit card and online banking. Savings accounts are for idle funds, with annual interest rates of around 4.5% to 5.2% in 2024 (according to Reserve Bank of Australia data from November 2024). Some banks offer student packages that waive monthly account fees — for example, Commonwealth Bank’s “Smart Access” account and ANZ’s “ANZ Access Advantage” account are both fee-free for students aged 18-24.

Comparing the Major Banks

All four of Australia’s big banks — Commonwealth Bank, Westpac, ANZ and National Australia Bank — have branches in Canberra. ANU’s campus has Commonwealth Bank and Westpac ATMs and branches. What to compare: monthly account fees (waived for most student accounts), ATM network coverage (Commonwealth Bank has 4 ATMs on the ANU campus), and international transfer fees (Westpac charges AU$15 for SWIFT transfers; Commonwealth Bank charges AU$10). The Australian Securities and Investments Commission’s 2024 Student Bank Account Comparison Report notes that about 60% of international students choose Commonwealth Bank, partly because its mobile app supports a Chinese interface.

Digital Bank Options

Beyond the traditional banks, digital banks such as Up Bank and 86400 offer fully online account opening with no branch visit required. These banks typically charge no monthly fees and no international transaction fees, and support instant account opening and virtual cards. The catch is that digital banks have very few physical locations in Canberra, so depositing cash or getting documents certified can be a problem. Data from the Australian Financial Complaints Authority for 2024 shows the complaint rate for digital banks is about 0.3 percentage points lower than for traditional banks.

Documents Needed and the Account Opening Process

Core Document Checklist

Under section 50 of Australia’s Anti-Money Laundering and Counter-Terrorism Financing Act 2006, banks must verify identity through the 100 Points ID Check. International students typically provide: passport (70 points), student visa / Visa Grant Letter (30 points), and proof of Australian address such as a lease agreement or utility bill (25 points). Some banks accept an ANU student card as a supporting document (10 points). Documents must be originals or certified copies — electronic versions are usually not accepted. AUSTRAC’s 2024 guidance stresses that banks must keep identity verification records for at least 7 years.

Step-by-Step Opening (Using Commonwealth Bank as an Example)

Take your documents to any branch, or submit a pre-application through the mobile app. At the Commonwealth Bank branch on the ANU campus (near Union Court), the whole process takes about 30-45 minutes. The steps are: fill in the account application form (Chinese-language service is available on request), verify your identity documents, set your online banking password, and choose your debit card type (Visa Debit or eftpos). The card is usually posted to your address within 5-7 business days, although some branches can issue a card on the spot. A 2024 survey by the Australian Banking Association found that about 80% of international students open their account within 2 weeks of arrival.

Activating Your Account and Initial Deposit

After opening the account you need to make a minimum initial deposit, which varies by bank: Commonwealth Bank requires AU$0 (student account), while Westpac requires AU$50. It is a good idea to deposit at least AU$100 on the day you open the account to activate it and test international transfers. For cross-border tuition payments, some families use specialist channels such as Flywire tuition payments to settle the currency conversion, avoiding the high fees and exchange-rate losses of bank telegraphic transfers. Once the account is active, you can link mobile payment (Apple Pay/Google Pay) and set up automatic recurring transfers.

Tax Returns and Compliance

Annual Tax Return Obligations

International students holding a TFN must lodge an income tax return with the ATO after the end of each financial year (1 July to 30 June). Even if your income is below the AU$18,200 tax-free threshold, you must still lodge a “Nil Return.” The ATO’s 2024 Tax Guide for International Students notes that failing to lodge on time attracts a penalty of AU$222 for each 28-day period (up to AU$1,110). You can lodge through the ATO’s free online system myTax, or use a registered tax agent (typically AU$50-150).

Work Income and Tax Rates

International students can legally work up to 48 hours per fortnight (in effect since 1 July 2024; previously 40 hours), with no limit during holidays. With a TFN, your employer withholds tax under the “PAYG Withholding” system at progressive rates: 0% for income up to AU$18,200, and 16% for income between AU$18,201 and AU$45,000 (including the 2% Medicare levy). Students without a TFN are withheld at 47%. The Australian Bureau of Statistics’ 2024 Labour Force Report shows that about 35% of international students work part-time, at an average hourly rate of AU$28.50.

Bank Interest and Tax

Interest earned on bank accounts counts as personal assessable income and must be declared in your annual return. If you do not give your bank your TFN, the bank withholds interest tax at 47%, and that tax is not refundable. Once you provide your TFN, interest is added to your total annual income; if your total income is below AU$18,200, no tax is payable on the interest. Reserve Bank of Australia data for 2024 shows the average annual interest income on a student account is about AU$120 (calculated on a 5% rate and an average balance of AU$2,400).

Common Questions and How to Handle Them

Lost or Expired TFN

Your TFN is valid for life — it never expires. If you lose the paper letter, you can look it up through the ATO’s online system (your myGov account), or call 13 28 61 (have your passport and visa details ready). ATO statistics for 2024 show that about 10% of international students lose their TFN letter within the first year. As soon as you receive it, photograph it and store a copy in secure cloud storage.

Closing Your Bank Account and Transferring

When you leave Australia or transfer to another institution, close your bank account to avoid monthly fees or dormancy fees. Before closing, settle all transactions, cancel automatic debits, and transfer the balance to an overseas account. Some banks charge AU$5 per month once an account has been dormant for 12 months. A 2024 report from the Australian Financial Complaints Authority notes that about 8% of complaints involve unreasonable fees charged to departing students who never closed their accounts.

Choosing a Tax Agent

Students with complex income structures (multiple part-time jobs, investment income, or scholarships) are advised to use a registered tax agent. Registered agents must hold a registration number issued by the Tax Practitioners Board (TPB). Fees are typically AU$50-150 and are themselves tax-deductible. ANU Student Central offers free tax advice from July to October each year — book ahead.

FAQ

Q1: How long does a TFN application take? Can I apply before arriving in Australia?

Processing usually takes 28 calendar days, extending to 42 days in peak periods (July-August). ATO rules require applicants to hold a valid visa and be physically in Australia, so you cannot apply before you arrive. Submit your application as soon as you land so your work plans are not affected.

Q2: Is proof of address compulsory for opening a bank account? Does a halls-of-residence contract count?

Yes — under the 100 Points ID Check, proof of address is a required document (25 points). Your accommodation contract for an ANU residential hall (such as Bruce Hall or Ursula Hall) is valid proof of address. If you are in temporary accommodation, you can use a bank statement or a letter confirming your address from the university (some banks accept the address certificate issued by ANU Student Central).

Q3: How much tax is withheld from work income if I don’t apply for a TFN?

Students without a TFN have wages withheld at the 47% top marginal rate, and that tax is not refundable. By comparison, students with a TFN and annual income below AU$18,200 pay 0% tax. In concrete terms: on a part-time job paying AU$28.50 per hour for 24 hours a week, a student without a TFN has about AU$321 withheld every week, while a student with a TFN pays no tax.

References

Australian Taxation Office, 2024, Guide to Applying for a Personal TFN
Australian Department of Home Affairs, 2024, International Student Data Report
Australian Securities and Investments Commission, 2024, Student Bank Account Comparison Report
Reserve Bank of Australia, November 2024, Interest Rate and Money Market Report
Australian Financial Complaints Authority, 2024, Annual Complaints Statistics