Key points
- TFN income is usually reported by an employer.
- ABN income requires your own income and expense records.
- If you have both, both need to be reviewed for the same income year.
TFN income
TFN income usually refers to salary or wages earned as an employee. Employers report income and tax withheld to the ATO.
ABN income
ABN income is earned through business, contracting, freelancing or platform work. You usually need sales records, invoices and expense records.
When you have both
Many people have salary income and a side business. Keep employee documents and ABN records separate so the tax return can be reviewed clearly.
Summary
Knowing whether your income is TFN, ABN or both helps you prepare the right records.
If you earned both wages and business income
Keep employment records and business records in separate groups so they can be checked clearly. For each job, explain whether you were paid as an employee or invoiced for services. Do not decide solely from the business name on your bank statement.
For wages, provide the Income Statement. For business work, provide invoices or platform statements, payments received and expense records. Flag anything that appears in both sets so the same income is not counted twice.
This guide is general information only. Your tax position can differ depending on income type, residency, visa status, records and personal circumstances. Check official ATO guidance or seek individual support before lodging.