We love to hear your feedback. Your suggestions and ideas are important to us. Our feedback forum is a great place to post your ideas and vote on others. Please share your detailed use case and how the proposed enhancements can increase value to your business. We do read all of your posts, but may not be able to respond to all comments.
More information on the status of submitted ideas can be found here
Validation of Tax File Numbers would very beneficial to substantially reduce the error of someone inputting in a wrong TFN. To verify if a TFN is valid, the below algorithm would need to be applied.
To make the algorithm work, a fixed weighting is applied to each number of the TFN. In order from the left, these weightings are 1 4 3 7 5 8 6 9 10. As with a lot of these things, the rest is best explained using an example.
Let’s take the following TFN; 123 456 782. Now multiply each digit by the weightings, in order.
1 x 1 = 1, 2 x 4 = 8, 3 x 3 = 9, 4 x 7 = 28, 5 x 5 = 25, 6 x 8 = 48, 7 x 6 = 42, 8 x 9 = 72 and 2 x 10 = 20.
Now, add those results together. 1 + 8 + 9 + 28 + 25 + 48 + 42 + 72 + 20 = 253. Now, remember that number you were keeping in mind? If the total you arrived at is a multiple of 11, you’ve got yourself a true TFN.
Validation of bank details in "additional forms" is imperative for us to pay our people correctly. Can be costly for our team and the applicant if we get this wrong.