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Australia Currency
The Australian Dollar (AUD), made up of 100 cents, comes in a variety of notes and coins. Exchanging your currency is as simple as finding an exchange station at the airport or stepping into a local bank. You may bring in or take out as much Australian currency as you wish. Any foreign currency, however, exceeding AUD $10,000 should be declared (as should promissory notes, cheques, money orders, or postal orders).
Australia Banks
Perth banks are open 9.30 am to 4.00 pm (Monday-Thursday) and until 5.00 pm on Friday. Some of Perth’s larger banks are:
- ANZ
- BankWest
- Westpac
- Commonwealth Bank
- National Australia Bank
Australians prefer the ease and convenience of debit and credit cards. ATMs, banks, and Eftpos machines abound for this purpose. Setting up an account with an Australian bank is your best option for keeping cash handy.
Australia Taxation
Any one who works in Australia must obtain a Tax File Number (TFN), a personal numerical identifier. Taxes are due each October, following the close of the fiscal year (1st July to 30th June). All taxpayers should complete an online Tax Return (or obtain consultant services).
Tax level chart
Taxable income Tax on this income
- $0 – $6,000 Nil
- $6,001 – $34,000 15c for each $1 over $6,000
- $34,001 – $80,000 $3,600 plus 30c for each $1 over $34,001
- $80,001 – $180,000 $17,100 plus 40c for each $1 over $80,001
- $180,001 + $47,100 plus 45c for each $1 over $180,001
Australia Superannuation
Superannuation is retirement investment program provided by every employer. By law, every employer must contribute 9% of your annual earnings into your superannuation. If you are self employed or wish to contribute additional funds you should seek expert advice.
Loans in Australia
Obtaining a loan in Australia is essentially the same as in the UK. Lenders will perform a credit history check to ensure your financial responsibility. Because you will have little or no credit history in Australia, you may wish to obtain a reference letter from your bank and/or employer to verify your financial background.
To navigate the pitfalls and dangers of the mortgage maze, you should obtain the services of a trusted mortgage broker. Please contact us for recommendations.
Australia State Benefits
You may qualify for a variety of helpful financial benefits from the government. Navigating the eligibility process and types of benefits is a very involved process, which often requires the professional advice. Although Quality Migrations does not provide financial advice, we are capable of recommending top-quality professionals to advise you in these matters.
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Contact details
Head Office 1300 768 218
from overseas call +61 416 192 215
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