Australia Guide: Money
Our money guide provides information on bank accounts, credit and debit cards and money transfers. If you need to open a bank account, we will explain how to do it - step by step.-
Australian Banks Where to manage your finances
The major Australian banks with branches in cities and large towns throughout Australia are the WBC (often called Westpac), Australia & New Zealand (ANZ) Bank, the Commonwealth Bank of Australia (majority-owned by the Australian government) and the National Australia Bank, collectively referred to as the big four. more » -
Accounts How to open a bank account in Australia
The most common account for day-to-day money management is a current or cheque account (commonly called a transaction account in Australia), which provides ATM access, a cheque book, an EFTPOS card, the facility to pay your regular bills by direct debit, telephone banking and possibly other services, such as an overdraft facility. more » -
Cards Cash, debit, credit and charge cards, ATMs
One of the most important innovations in banking in the last decade or so has been the introduction of cash and debit cards, which are routinely issued to all transaction account holders in Australia. more » -
Cost of Living What is the cost of living in Australia
It’s difficult to calculate an average cost of living, as it depends on an individual’s circumstances and lifestyle. more » -
Income tax An introduction to Australia´s income tax
Federal income tax is levied under a two-tier system: the First Class system applies to the self-employed and companies, and the Second Class system, called Pay-As-You-Go (PAYG), is for employees. more » -
Income tax allowances & rebates How can I pay less?
All taxpayers can claim allowances from their taxable income and rebates in addition to credit for tax paid during the relevant financial year. more » -
Taxable Income What part of my income is taxable?
Taxable income includes income derived directly or indirectly from all sources except where it’s specifically exempted. more » -
Income Tax Rates Residents and Non-residents tax rates
Australia has four income tax rates, shown below (effective 1st July 2005): more » -
Income tax collection PAYG, PAYG Installments, PPS
There are three main systems of collecting tax from employees in Australia: Pay-As-You-Go (PAYG), PAYG Instalments and Prescribed Payments System (PPS) – described below. more » -
Income tax for self-employed The advantages of being self-employed
The business structure you choose when establishing a business is vital in ensuring that you pay no more tax than is necessary (most family businesses operate a family trust in order to reduce taxes). more »