A tax file number (TFN) is a unique number issued by the Australian Taxation Office (ATO) to individuals and organisations. All businesses need a TFN, but other tax registrations depend on the type of business you're running.
The type of TFN your business will need will depend on your business structure:
- If you're going to operate as a sole trader, your individual TFN is used for both your business and personal dealings. If you don't have an individual TFN, you will need to apply for one.
- If you're going to operate your business through a partnership, company, trust or another type of business structure, it will need a separate TFN.
Most businesses can apply for a TFN when they apply for an Australian Business Number (ABN).