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Item 7 - Electronic Funds Transfer (EFT)

Refer to Electronic funds transfer on the ATO website.

The account details provided are NOT retained on the front cover when the return is rolled forward. These details must be entered each year even though they may have been provided previously.

To complete the details, select from the list at the prompt Select bank a/c details from:

  • A - The Tax Agent’s Trust Account used to receive refunds will be used by selecting ‘Agent’ from the list:

  • If an agent is selected on the Return Properties Staff tab the account details will default from those recorded under Maintenance > Agents > Properties > Banking tab for the Agent named on the Staff tab. Refer to Banking Details for Agents . 

  • If the agent on the Return Properties Staff tab is blank then the account details will default from those recorded for the Practice under Utilities > Control Record > Banking tab. Refer to Setting up your Control Record Properties for Banking.

  • 1 or 2 - Up to two sets of bank account details may be stored in the Return Properties, Bank a/cs tab and either of these may be selected from the list provided on the front cover. Refer to Return Properties - Bank a/cs .

Alternatively, enter the details directly into the fields provided at this item:

  • The bank state branch (BSB) number. This six-digit number identifies the financial institution. Do not include spaces, dashes or hyphens in the number.

  • The account number. You cannot use an account number with more than nine characters. Do not include spaces in the account number.

  • The account name, as shown on the fund’s account records with spaces between each word and between initials. If the fund's account name has more than 32 characters, provide the first 32 characters only. If you abbreviate the first 32 characters in any way, the transfer won’t take place.

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