The Tax File Number (TFN) is a unique identifier used by the Australian Taxation Office (ATO) to track an individual’s tax and superannuation details. It is a crucial number for anyone living or working in Australia, as it is required for various purposes such as lodging tax returns, receiving government benefits, and opening bank accounts.
The TFN was introduced in 1988 as part of Australia’s tax reform program. It has since become an essential tool for the ATO to efficiently administer the tax and superannuation systems. For individuals, having a TFN ensures accurate tax assessments, timely processing of tax returns, and access to government services and benefits.