If you are opening a business in Australia or want to work as an Uber driver or similar, you will need an ABN.
An ABN is a unique 11-digit number that identifies your business to the government and community. You can use an ABN to identify your business to others when ordering and invoicing and avoid pay-as-you-go (PAYG) tax on payments you get.
You need a Tax File Number (TFN) as soon as you arrive. You can acquire one if you are opening an Australian bank account or are earning money in this country.
When starting a new job in Australia, your employer will provide you with a Tax File Number declaration form. This form will be returned to the Australian Tax Office (or commonly called: ‘ATO’). You can even check how much taxes your employer will deduct from your salary on the ATO website here https://www.ato.gov.au/Calculators-and-tools/Tax-withheld-calculator/
Tips from the True Blue Studies team:
Do this as soon as you arrive in Australia! This will save you a lot of stress.
