Tax basics

TFN is a unique number issued by the Tax Office.
While it is not compulsory to have a TFN, if you do not have one you may:

have more tax withheld than necessary
not be able to receive government benefits you are entitled to receive, or
cause delays in the processing of your documents by the Tax Office.
Only one TFN is issued to you for your lifetime.

Once a TFN has been issued to you, there is no need to reapply for one if your circumstances change – for example, if you move interstate, change jobs, change your name in any way, have investments, or claim government benefits.

Why you need a TFN

A TFN will help you when you:

lodge a tax return
apply for certain income assistance or support payments, such as pensions or benefits from either Centrelink or the Department of Veterans’ Affairs
claim Family tax benefit (FTB). Please note – you must supply your TFN as your FTB tax claim cannot be processed without it
make or receive payments under the pay as you go (PAYG) system
start or change jobs
make a TFN declaration or a Withholding declaration
have savings accounts or investments that earn income – for example, interest or dividends. Please note – for tax purposes, only Australian residents need to quote a TFN to an investment body. Non-residents don’t need a TFN for interest, dividends and royalty payments as these are subject to non-resident withholding tax
study at a tertiary institution and you wish to defer your contribution under the Higher Education Contribution Scheme (HECS), or you have taken out a loan under the Postgraduate Education Loan Scheme (PELS), Open Learning Deferred Payment Scheme (OLDPS), Bridging for Overseas – Trained Professionals Loan Scheme (BOTPLS) or the Student Financial Supplement Scheme (SFSS)
join a superannuation fund
are a member of a partnership or some other entity
are a client of the Child Support Agency
are a non-resident living outside Australia with business interests in Australia, or
are a company director, public officer, office bearer, trustee, or partner of an entity which is applying for an Australian business number (ABN).

Tax basics <<<<<<