While it is not compulsory, we recommend providing us with your Tax File Number (TFN) within the Humanforce Thrive iOS or Android app so we can provide it to Blossom. The law is very strict on how your TFN details can be used.
If we don’t receive your TFN and you don’t give us a valid exemption number, tax at the highest personal rate, plus the Medicare levy, must be withheld before passing on any distribution to you. If this withholding tax applies to distributions to you, you may claim a credit in your annual income tax return in respect of the tax withheld.
To avoid this, please choose to enter your TFN or exemption number in the ‘Settings’ tab as soon as you can!