Not really.

There is a 'withholding tax' if you are a non-resident for tax purposes. Therefore, unless you provide them with a TFN, the bank must withhold a portion of interest as a withholding tax. The logic behind this is that the tax office can't chase non-residents, especially those overseas, so the obligation is on the bank to pay the taxes on behalf of the non-resident. Non-residents do not have the $6000 threshold before which no tax is payable.

If you provide a TFN, you are saying you are a resident, therefore, the bank will not withhold interest payable to your account, but you may be required to submit a tax return. This would apply if your income from all sources (interest, dividends if you play shares, property trading, salary) is above a certain amount which may or may not be $6000 depending on the tax office's computer system.

banyak msians kat south of river.. semua orang kaya 

you get racism and bigotry in every society.......in fact the chinses can be one of the most racist ethnic group.....just listen to the prc talk about others....

oz has very strict laws against racism.......and with almost 40% of the people born ouside oz, migrating from 120+ countries......it's hard to be a racist....

you will find it much less racist and much more egalitarian then msia.....