TFN / ABN

TFN vs ABN

A TFN is generally used for employment and personal tax matters. An ABN is used when you earn income as a sole trader or contractor.

TFN income

TFN income usually includes wages or salary from an employer. Your Income Statement shows your income and tax withheld during the financial year.

ABN income

ABN income may apply if you operate as a sole trader, contractor, delivery worker or freelancer. You need to report your income and keep records of business-related expenses.

When both apply

If you have both employment income and ABN income, your tax return needs to include both. This is common for people who have a job and also do contracting, delivery work or freelance work.

Good records make ABN tax returns easier: sales, invoices, platform reports, receipts and bank records all help.

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