Tax Return:: Have You Lost Your TFN or is Your TFN Compromised?

Hello, this is your tax and super specialist, P&C Tax Professionals.

As stressful as it may sound, there may be instances where you have lost your TFN and simply cannot remember what it was or where your TFN has become compromised due to suspicious activity been detected by the ATO.

<What is a TFN?>

A tax file number or TFN is basically a unique identifying number that is issued by the ATO to either individuals or companies with the purpose of enabling the ATO to administer tax and other Australian Government systems there may be.

The TFN is only issued to you ONCE during your whole lifetime. This is even if your circumstances have changed such as your name or residency details. Since the TFN serves as one of your most important forms of identification, making sure that you keep it in a safe place would be ideal when it comes to combating identity theft.

It is not necessarily compulsory for you to have a TFN, albeit, if you do not have one, you may have more tax withheld than those who hold a TFN and you may also be restricted to receiving government benefits which you may indeed be entitled to otherwise.

<How to find your lost TFN>

If you have lost your TFN, there are a couple of ways in which you can retrieve them.

1. If you have a myGov account:

> You can find your TFN online with your myGov account that is linked to the ATO online services.

2. If you do not have a myGov account, you can find your TFN on:

> your notice of assessment for the tax return you have lodged previously (this is issued by the ATO each financial year once your tax return has been finalised)

> letters you received from the ATO (e.g., statement of account)

> a payment summary or income statement which you have received from your employer

> your superannuation account statement.

3. You can also ask your registered tax agent for the your TFN.

4. If you’re still having trouble finding your TFN after all these options, you can try calling the ATO for further assistance.

Phone ATO: 13 28 61 (8:00am – 6:00pm, Monday - Friday) for individual enquiries including tax file number.

<What is a Compromised TFN?>

A compromised TFN refers to a TFN that may be lost, stolen or exposed to another person hence, putting it at risk of being used by another individual for fraudulent purposes.

Generally, the ATO classifies compromised TFNs into two different streams:

> Compromised TFNs without the implications of identity fraud – where the TFN is lost or where the carrying medium is stolen (e.g., if your computer or any other electronic device with your TFN details are stolen)

> Compromised TFNs with the implications of identity fraud – this is where the main objective of the theft is to obtain and misuse TFNs.

If for whatever reason you suspect that your TFN has been lost, stolen or made available to an unauthorised third party, you must immediately contact the ATO to let them know.

Phone Client identity support centre: 1800 467 033 (8:00am – 6:00pm, Monday – Friday). They will be able to give you useful information and assistance in order to re-establish your personal identity.

For further enquiries relating to your tax return or super, please contact us through our Official Facebook Page (P&C Tax Professionals – Australia) or reach out to us on our email address at pnctax@naver.com.

Thank you and bye for now!