Yes, the net income earned on your Portfolio will be assessable for tax.
If you do not provide your Tax File Number, we are required to withhold tax from your net interest earnings at the highest marginal tax rate. This rate is currently 45%. This amount is remitted to the ATO. If you provide your TFN, we will not withhold any tax.
To make it easy for you to complete your tax return, we will provide an annual statement that outlines the interest you have earned and the net of our fees.
Please refer to our Product Disclosure Statement for further information regarding tax on your Plenti investment. The tax implications outlined in our Product Disclosure Statement are general in nature and do not take into account your specific circumstances. You should obtain specific taxation advice from a suitably qualified tax advisor before investing.