What is the main difference between TFN and ABN?

TFN vs ABN: Main Differences

Tax File Number (TFN)

• Who gets it: Individuals (employees, students, job seekers)
• Purpose: Tracks your personal tax and welfare payments
• Format: 9 digits (e.g., 123 456 789)
• Required for: Working in Australia, claiming tax deductions, receiving government benefits
• Cost: Free to apply

Australian Business Number (ABN)

• Who gets it: Businesses and self-employed people
• Purpose: Identifies your business for tax and GST purposes
• Format: 11 digits
• Required for: Running a business, invoicing clients, registering for GST
• Cost: Free to apply

Quick Comparison

• TFN = Personal tax identification
• ABN = Business tax identification
• You can have a TFN and an ABN if you're self-employed
• Employees only need a TFN
• Business owners need an ABN

How to Apply

• TFN: Apply through the Australian Taxation Office (ATO)
• ABN: Apply through the Australian Business Register (ABR)
• Both are free and can be done online

Useful Links

• ATO - Tax File Number
• ATO - Australian Business Number
• Australian Business Register

This is general information only. Check official sources before acting.