Xinja Incorrectly Wihholding Tax on Interest

Has anyone else had tax incorrectly withheld from their Stash account interest this month? I supplied my tax file number when I opened my Xinja account, and tax wasn’t withheld in March, but It has been this month.

After 2 days Xinja still says they’re investigating and are still refusing to even acknowledge it’s an issue on their end. If it were an issue on my end (providing an incorrect TFN) they would have detected that immediately, so it’s obviously not an issue on my end.

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Hey @Adrianus, can you DM me your details so I can look into this?

Hi, i have spoken to the same person at Xinja twice in two days via the app regarding this issue, and spoke to them on the phone today. The response was the same: the issue has been handed to tech support to decide if the issue is on Xinja’s end. How will your response be any different? I posted here to see if any other clients are experiencing the same issue.

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Sorry @Adrianus I didn’t realise you’d been in contact with us this morning.

We’re just doing an analysis to know exactly how many are impacted and who they are - and we’ll post an update on progress in this thread as soon as we’ve got that back.

Hi @Adrianus there were about 20 people impacted and you should have received an email last night explaining and about ensuring you get the correct interest credited. So sorry you were impacted.

Hello, I think I may have the same issue.

I have slightly less interest this month than I did last month, even though you can see I haven’t taken away but only added to my stash account. I’ve also had my tax file number on my account since day 1.

30 days in April vs 31 days in March???

Hiya @dRuMxmUsIc

I believe it is just the difference in days as @mostly-analogue suggested but I can double check with our Xinjarati for you. You can also message them via the in app chat directly but I’ll have some more info for you soon.

Following up from this morning @dRuMxmUsIc, I checked in with the Xinjarati and yep, it’s just to do with the extra day in March, and the bump in the total balance a week into April. Let us know if you have more questions!

Thanks for the clarification :slight_smile: