Tax File Number (TFN) – what is it?
Tax File Number (TFN) is a unique registration number the Australian Taxation Office (ATO) uses to manage information about you.
This number is used in all your taxation affairs, like registering with your employer, lodging your Tax Return or even claiming your Superannuation. You should only give it to persons you trust. By law, not everyone is entitled to ask you about your TFN.
Persons entitled to have your TFN (and ask you about it) are: your Tax Agent (us or other person that holds a license), employers, Superannuation Funds and banks.
By law you don’t have to provide them with your TFN but not providing it will result in higher taxes withheld from payments to you (e.g. your Wages or interest earned on deposits would be taxed at 46.5% – this money can be later retrieved from the ATO with your Tax Return).
Your Superannuation Fund can be informed of your Tax File Number at any time before claiming your Super back.
You can only have one TFN in Australia, and if you have visited Australia before or applied for it, you need to give us all details about it.
You can only apply for TFN once you’re in Australia. If you want to have it taken care of before you arrive, register with us and we will apply for it on the day of your arrival – when you will be unpacking.
It may take up to 28 days for the ATO to process your information and issue you with a TFN. Until then, you may advise all employers that your TFN is in the process of registration and you will advise them of it later. This can be done by ticking a box in the TFN Declaration you will fill out with your employer.
If you lodge your Tax File Number application with us, we will make sure the application is complete before you will arrive to Australia, and we will lodge it on the day of your arrival. This will ensure you will get your TFN as fast as possible.
If you will subscribe to our Mail Manager service, the TFN Advice will be sent to you by e-mail, while the original document will be stored in our office for you.