Tax File Number
A Tax File Number (TFN) is a unique identifier issued by the Australian Taxation Office (ATO) to individuals and organizations for tax purposes. It helps the ATO track tax obligations and entitlements, ensuring that taxpayers pay the correct amount of tax. A TFN is essential for anyone working in Australia, as it allows employers to withhold the right amount of tax from wages.
Obtaining a TFN is straightforward and can be done online, by mail, or in person at an ATO office. It is important to keep your TFN secure and confidential, as it is used for various financial transactions, including filing tax returns and applying for government benefits.