When the next bus stop is announced and you stand up saying, “That’s me”, you usually mean, “This is my stop.” Here, that points to the stop just named or to the situation unfolding around you. The sentence connects that moment with you; it is not limited to identifying yourself in a photograph.
You can use the same expression when a café calls your name or order: “That’s me, thanks.” In other words, the call is for you. This kind of omission depends on shared context. It is natural in everyday Australian conversation, though it is not uniquely Australian. If the context is unclear, “That’s my stop” or “That order is mine” is safer. “That’s mine” stresses ownership, so it cannot replace “That’s me” in every situation.
https://dictionary.cambridge.org/grammar/british-grammar/ellipsis
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