Form descriptions – Australia
Form descriptions are presented according to the procedures available for relief and/or reclaim of withholding tax on income from Australia debt securities, equities and Managed Investment Trusts (MITs) as follows.
Documentation requirements vary according to the regime applicable to debt securities, equities and Managed Investment Trusts (MITs) and to the type of beneficial owner.
- Request for Application of a Reduced Rate of Australian Withholding Tax on Interest Payments;
- Request for Application of a Reduced Rate of Australian Withholding Tax on Dividends;
- Breakdown of Holdings;
- Certificate of Exemption;
- List of Beneficial Owners - Australian Securities;
- Certificate of Residence;
- Credit Advice;
- Letter of Request to Clearstream Banking for Reclaim of Australian Withholding Tax.
Request for Application of a Reduced Rate of Australian Withholding Tax on Interest Payments.
One-time certification that provides information regarding the customer of Clearstream Banking, stating that it holds Australian debt securities not compliant with Section 128F of the Income Tax Assessment Act 1936 on behalf of one or more beneficial owners that are entitled to apply for relief at source through the simplified procedure.
How many are provided? | One per Clearstream Banking account. |
Who completes it? | Customer. |
How often is it provided? | Once. Valid until revoked. |
When is it provided? | At the latest three business days before the first interest payment by 10:00 CET. |
Copy or original? | Original required. |
Request for Application of a Reduced Rate of Australian Withholding Tax on Dividends.
One-time certification that provides information regarding the customer of Clearstream Banking, stating that it holds Australian equities, MITs on behalf of one or more beneficial owners that are entitled to apply for relief at source through the simplified procedure.
How many are provided? | One per Clearstream Banking account. |
Who completes it? | Customer. |
How often is it provided? | Once. Valid until revoked. |
When is it provided? | At the latest three business days before the first dividend payment by 10:00 CET. |
Copy or original? | Original required. |
Breakdown of Holdings
The customer must provide, per beneficial owner, where appropriate, a Breakdown of Holdings that includes:
- ISIN;
- Corp ID;
- Payment date;
- Customer account number;
- Total holding for the event;
- Split of holding per tax rate to be applied with the respective tax rate;
- The country of residency of the beneficial owner(s);
- The ABN/TFN for Australian residents (if applicable).
How many are provided? | One per Clearstream Banking account. |
Who completes it? | Customer. |
How often is it provided? | Per relevant payment. |
When is it provided? | At the latest three business days before each relevant payment by 10:00 CET. |
Copy or original? | The breakdown must be delivered via formatted Swift MT565, Swift message MT599 (“Attention to SIT - Tax Services Singapore”) or via Xact message. |
Certificate of Exemption
One-time certification that indicates the tax-exempt status of the beneficial owner of the securities as granted in the letter by the Australian Tax Office (ATO).
Eligible beneficial owners, exempt by Law (in all cases), exempt by DTT (upon request only), must contact the ATO and submit an application for a Private Ruling to request recognition. Once the ruling (the Certificate of Exemption) is issued, if favourable, an authenticated copy (stamped and signed by the customer) should be sent to Clearstream Banking.
Note: Each ruling from the ATO is on a case by case basis. Information about application for a Private Ruling is available on the web site of the ATO.
How many are provided? | One per beneficial owner. |
Who completes it? | The Australian Tax Office. |
How often is it provided? | Depends on the validity dates provided on Private Ruling, certificate of exemption. |
When is it provided? | (Relief at Source) at the latest three business days before the first income payment by 10:00 CET. (Standard Refund) together with the reclaim application. |
Copy or original? | Authenticated copy required. |
List of Beneficial Owners - Australian Securities
Provides the list of beneficial owners that obtained the reduced rate at source.
How many are provided? | One per payment per Clearstream Banking account. |
Who completes it? | Customer. |
How often is it provided? | Upon request. |
When is it provided? | Upon request. |
Copy or original? | Original required. |
Certificate of Residence
A Certificate of Residence with the beneficial owner’s full name and address issued by the beneficial owner’s tax authorities.
How many are provided? | One per beneficial owner. |
Who completes it? | Beneficial owner’s tax authorities. |
How often is it provided? | Upon request. |
When is it provided? | Upon request. |
Copy or original? | Original required. |
Credit Advice
Identifies income payment details including the security type, gross amount of payment, date of payment and amount of tax withheld. The credit advice must reconcile with the information in the refund form.
If the beneficial owner is the customer's client, the credit advice from the customer to the beneficial owner must be provided.
How many are provided? | One per Clearstream Banking account. |
Who completes it? | Financial institution paying the beneficial owner. |
How often is it provided? | Upon request. |
When is it provided? | Upon request. |
Copy or original? | Original required. |
Letter of Request to Clearstream Banking for Reclaim of Australian Withholding Tax
This authorises Clearstream Banking to reclaim withholding tax from the Australian Tax Authorities on the customer's behalf.
How many are provided? | One per Clearstream Banking account or specified set of Clearstream Banking accounts. |
Who completes it? | Customer. |
How often is it provided? | Per reclaim application. |
When is it provided? | At the latest two months before the statutory deadline. |
Copy or original? | Original required. |