Personal Finance

A Tax File Number (TFN) is crucial for working in Australia; apply through the Australian Taxation Office with required identification.

Opening an Australian bank account is straightforward; understand requirements, choose suitable account types, and prepare necessary identification documents.

Australia lacks a specific inheritance tax, but be aware of potential Capital Gains Tax implications on inherited assets.

An Australian Business Number (ABN) is essential for businesses; apply online through the Australian Business Register for streamlined operations.

Australia's 'Big Four' banks—Commonwealth Bank, Westpac, ANZ, and NAB—dominate the banking sector, offering diverse financial services nationwide.

Your credit score in Australia reflects how reliably you manage debt. It impacts loan approvals, interest rates, and overall financial health.

Accessing cash in Australia is straightforward, with numerous ATMs available nationwide. Major banks provide online locators to help you find nearby cash machines. For detailed guidance on locating ATMs and understanding potential fees, refer to this comprehensive article.

​Credit cards in Australia allow you to borrow funds up to a predetermined limit for purchases, requiring repayment to avoid interest charges. Understanding their features, including interest rates and fees, is essential for responsible use and maintaining financial health. ​

Moving to a new country comes with financial uncertainties, making an emergency savings fund essential for stability. Unexpected expenses—such as medical bills, car repairs, or sudden job loss—can disrupt your budget, but a well-planned fund can turn these financial shocks into manageable setbacks.

In Australia, the tap and go payment system, known as "tap and go," has gained immense popularity for its speed, convenience, and security. It allows for contactless transactions using credit or debit cards, mobile wallets, and even wearable technology.

Australia's high grocery prices stem from several factors, including oligopoly, high transportation costs, increased production expenses, and influence from the export market. Seasonal trends and holidays also impact prices.

Australia's Goods and Services Tax (GST) is a 10% tax applied to most goods and services. Non-residents may need to register for GST if they start a business, take on freelance gigs, or import goods. Understanding the tax system is crucial for a smooth experience in Australia.