Many people are unaware that it is important to keep their tax file number (TFN) as safe as they would a passport or bank account details.

Identity crime continues to be a genuine threat in today’s society and TFN’s can be utilised by fraudsters to commit crimes against the Tax Office, other organisations and individuals.

There continues to be an increasing number of reports of people being asked to provide their TFN when it isn’t needed. The Tax Office has even seen instances of bogus job advertisements on the internet and in the newspapers asking for personal details including TFN’s. 

You should be cautious to only provide your TFN once you have been officially engaged by your employer; you are NOT required to provide it to potential employers.

By keeping your TFN and personal details safe you can minimise the chance that they will be used as part of fraudulent and criminal activity.

Tips to help keep your TFN and personal details safe include:

• Do not carry your TFN or personal details in your purse or wallet

• Do not store your TFN or personal details in your mobile phone

• Be sure to shred or destroy documents containing your identity details before disposing of them

• Ensure that up to date anti-virus software and a personal firewall is installed on your computer. Regularly scan your machine for infection

• Be cautious to only provide your identity details to trusted and reliable organisations

Be aware that there are only certain people and organisations that can ask for your TFN. The most common of these include:

• The Tax Office – when discussing your tax records

• Your employer – once you have started work

• Your bank or other financial institution

• Your tax agent

• Centrelink

• Your superannuation fund

It is extremely important to correctly guard your TFN and other personal details in order to avoid them falling into the wrong hands and running the risk of becoming a victim of identity crime.

If you would like more information on protecting your tax file number or any other legal or accounting matter contact the professionals at The Quinn Group on 1300 QUINNS or <click here> to complete our online enquiry form.