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The Australian Business Number (ABN) is an 11-digit unique identifier for businesses operating within Australia. It is required for tax reporting and conducting business transactions within Australia. While ABN can be issued immediately after application, it may take up to a maximum of 28 days if additional information is required.
Tax File Number (TFN) is a unique 9-digit number that is essential when starting work and receiving a salary in Australia. This number remains the same even if your name or occupation changes. Without a TFN, you cannot proceed with individual tax reporting, and it is also not possible to apply for an ABN.
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