Have you been looking for your Tax File Number and cannot seem to trace it? This can be a scary moment as the TFN is used for tax purposes. The Tax File Number is issued by the ATO and will be required to complete a number of applications. If you want to apply for an Australian Business Number or lodge online tax returns, you need to have the TFN. This personal reference number is issued once and does not change with time. As such, you will have it for the rest of your life. So what happens, when you cannot find it?
Here are some suggestions that would help you in retrieving your Tax File Number:
If you are in your office or at home, you can start by looking through your drawers and cabinets. Most people usually have the TFN stored safely in a file. As such, you can commence your search by perusing your essential documents. There are also other documents that would have the TFN displayed and you can use such. An income tax notice assessment is issued by the Australian Tax Office and this comes with a TFN. The number will appear on the top-right corner of the assessment. You can also retrieve the TFN from your superannuation statements or payslips.
Get Your TFN Online
In the last decade, there are so many things that have migrated to the digital world. To this end, the Australian government launched myGov, which offers a centralized hub for government services. Some of the services you can find on myGov include JobSearch, Medicare, My Health Record, Centerlink, and the ATO. Through your myGov account, you can get your TFN, without any difficulties.
The TFN is one of the most important details of your life that should be safeguarded. In the wrong hands, it can be used for fraudulent activities. As such, you should keep it safe and not have it lying around. You should avoid sending your TFN through text messages or other platforms so as to protect yourself. If your employer needs your TFN, the best way to give it out is by filling out the TFN declaration form.
Please note that due to the delicate nature of the TFN, we cannot help you in finding it. You should contact the Australian Tax Office for assistance. Do not fall victim to any company that promises to help you find your Tax File Number; this may be a dangerous trap. Contact the ATO to get your lost or forgotten Tax File Number.
Do I Need to Have a Tax File Number?
The Tax File Number is not mandatory to have. However, there are so many benefits that are associated with having one. For instance, you will only pay the correct amount of tax when you have this number. Without a TFN, the maximum tax amount will be deducted from your income. In order to register your business, you will need to have a TFN. As such, it is imperative to have one in place.
If you have misplaced your TFN, it is imperative to alert the ATO right away. As discussed, you can use the suggestions above to get your Tax File Number. With most government services being available online, you can find your TFN through the myGov account.
Accurate Business & Accounting Services is one of the best organizations to help you with your accounts, tax returns, and other related services. While we may not help you retrieve your TFN, we can guide you on the procedure to follow.