Do you need a tax file number if under 18?
TFN exempt Your payee is exempt from quoting a TFN if any of the following apply: They are under 18 years of age and earn less than $18,200 per year..
How old do you have to be for a tax file number?
Under 18 years old You can apply for a TFN at any age. However, if you are: 12 years old or under – your parent or guardian must sign on your behalf. 13 to 15 years old – you or your parent or guardian can sign.
What happens if you dont have a tax file number?
What happens if I don’t add a Tax File Number (TFN)? Withholding tax may apply to interest earned on your account(s) unless you’ve provided us with your ABN, TFN or TFN exemption. You’re not obliged to provide your ABN, TFN or TFN exemption but if you don’t, we’re required by law to withhold tax.
Can you get a job without a tax file number?
To work in Australia you need a visa that allows you to work here. … You should apply for your TFN before you start work or soon after. You don’t have to have a TFN, but you pay more tax if you don’t have one. Getting a TFN is free.
Does a 14 year old need a TFN?
You can apply for a TFN at any age – however, if you are: 16 years or older – you must sign your application. 13 to 15 years old – you or your parent or guardian can sign. 12 years old or under – your parent or guardian must sign on your behalf.
Do minors need a TFN?
A child can apply for a tax file number (TFN) – there is no minimum age. Children are not exempt from quoting a TFN. When deciding whether to quote a TFN, you need to consider your child’s age and the amount of interest they receive.