Tax File Number (TFN) Declaration Form Explained 💰 | AUSTRALIA

The Tax File Number (TFN) Declaration Form (NAT 3092) is a form provided by Australian employers to their new employees to determine the correct rate of tax to withhold from their salary, wage or other types of payments in a tax year as required by the Australian Taxation Office (ATO) approved form.

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This video will explain this form in detail and will answer many common questions that employees have and will also help those employees understand the consequences for answering each question correctly.

An employee must provide their TFN to ensure they are not taxed incorrectly and failure to do so, could to lead to either too much, or not enough, tax being paid withheld. This could mean a larger than usual tax bill or refund when an employee lodged their Australian income tax return.

Watch this video to understand why this form is so important to ensure you are tax correctly and paid the correct salary or wage each payroll cycle.

CHAPTERS
00:00 Intro
00:46 Question 1
01:04 Questions 1 to 6
01:19 Question 7
02:06 Question 8
03:12 Question 9
04:15 Question 10

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DISCLAIMER This video is intended for general information and entertainment only and is not a replacement for professional advice. Money with Dan is not a financial advisor. You should consider seeking independent legal, financial, taxation or other advice to check how the information in this video relates to your unique circumstances. Money with Dan is not liable for any loss caused, whether due to negligence or otherwise arising from the use of. or reliance on, the information provided directly or indirectly, by use of this video.

#TFN #Moneywithdan #IncomeTax

[yanaloet]

I was struggling for long and this video just save me a ton of time, very well explained! Thank you so much ♥ ♥

[bhabisshrestha]

I did a mistake to submitted my TFN decleration in question 9 ' Do you want to calim the tax-free thresholds from this payer ? but I ticked No, I only work 8-12 hours per week. Now how can I change No to YES, please help

[wy]

Hi, do you know whether I can tick the “I have made a separate application to ATO for a new TFN” option
and send my employer back the form as I have not received the TFN but would like to start work soon? Thanks

[sanjulama]

How to change Tax resident status if we mistakenly choose a Foreign resident for tax purposes.

[sajanashrestha]

Hello I forgot to do print friendly version while applying for tfn.. How should I print and get tfn no. By using ato receipt id? Plz reply

[shadowaussie]

I'm having problems signing and dating electronically how to do that?