4 things you need to know about living in Australia

Estimated reading time
 5 min

In this article

• How banking works in Australia
• Working in Australia, including your superannuation entitlements
• A guide to the Australian health care system
• Your guide to common Aussie slang

We might be a bit biased, but there’s a reason they call Australia ‘the lucky country’.

It has little to do with winning the lotto and a lot to do with the quality of life out here in the great southern land. Moving to and living in Australia can offer a fresh start. And you’re in for a treat if you’ve never experienced the laid-back Aussie lifestyle. It can mean exploring the outback and transforming your family’s way of life or soaking in all that’s on offer in a bustling city at the beginning of your career.

Wherever you plan to land, we’re here to take you through some Aussie life essentials. Because no matter what brings you here, a move to the land down under can open up a world of opportunities. And fair dinkum, we’re happy to welcome you, mate.

What is banking like in Australia?

When you move to a new country, it’s important to understand the ways you can access your money, how banking works, and how the locals spend their hard-earned dough.

In Australia, there are many ways you can pay for purchases – think cash, debit or credit cards, bank transfers, and even payment plans. The Reserve Bank of Australia [RBA] - (PDF) says that around 51% of Australians use a debit card, 26% use a credit card, and 13% use cash.^disclaimer

This research reflects a steady move toward becoming a cashless society. So, if you’re new here, it’s a good idea to have a debit card (a card that lets you pay with your own money from a bank account). We’re not there yet, of course, so it’s also worth having some cash on hand for those smaller purchases or visits to cash-only businesses, like market stalls.

When it comes to banking in Australia, you’ve got a lot of options to choose from and you can get started straight away. You’ll need a few pieces of information to kick things off, like identification and your Australian residential address. Then, depending on the bank, you can open an account online or in person. At ANZ, we want to make banking easy as pie, so you can open an account with us online. You can learn all about how on our website.

Things to know about working in Australia

There are many ways to work in Australia, and it might take some time for you to find the right job. So it pays to give yourself a solid lead time and factor this into your plan and budget.

While you’re on the job hunt, or before you dive into your new role, get to know the rules around tax and wages, which can vary depending on the state or territory you settle in.

Income tax

Most people who are employed down under pay income tax, which is money that’s taxed on your wage. This is the main source of revenue for the government and pays for things like health care, upkeep of roads and public spaces, and large-scale projects.

Tax File Numbers

If you’re moving to Australia for work and you’re an Australian resident for tax purposes, you will need to apply for a Tax File Number (TFN) through the Australian Taxation Office (ATO). This will help when it comes time to submit a tax return at the end of each financial year (that’s when you will find out if you have to pay extra tax or if you’ll get some money back).

Superannuation

Another thing to know about working in Australia is superannuation (known colloquially ‘round here as ‘super’). Super refers to a percentage of your income that your employer pays into a ‘super fund’, which you can access when you retire (or earlier in some circumstances). The money will be invested, depending on your specific fund. The longer you work in Australia, the more your savings will grow.

If you decide to move back overseas, then you might be paid a departing Australia superannuation payment (DASP), but there are certain requirements you’ll need to meet.

What is health care like in Australia?

Australia’s healthcare system is widely regarded as one of the best in the world. It runs as two systems, public and private, and many residents rely on both.

The public system

Medicare is our public health care system that can help subsidise or cover the cost of medical appointments, hospital stays and certain procedures. Unless you’re a temporary resident, you can access public healthcare covered by Medicare.

However, if you’re a temporary resident from a specific country, like the United Kingdom or Italy, then you can access some services under Medicare. You can check out the full list on the Services Australia website.

  Hot tip:

In the Australian healthcare system, most dental services are not covered by Medicare. You’ll need private health insurance to receive rebates, unless you qualify for assistance through the public system.

The private system

Private health insurance can help cover the cost of specialist appointments like going to the physio, optometrist or, as previously mentioned, the dentist. Taking out private health cover is often a requirement for gaining entry into Australia with a visa.^disclaimer Each visa is different, so it pays to read up on the specific requirements before making plans to settle in Australia.

Common Australian slang explained

When it comes to language, like most countries, Aussies have their own shorthand which can be pretty confusing for people who are new to calling Australia home. Here’s a quick list of common Australian sayings and shorthand that will set you up to fit right in:

• G’day = Hello or hi (‘G’day Lucy, how are you going?’)
• Brekkie = Breakfast (‘I’m having toast for brekkie.’)
• Tea = Dinner (‘I’m having nachos for tea.’)
• Footy = Either Australian Rules Football or Rugby League depending on the region, not soccer. (‘Can’t wait for the footy tonight!’)
• Uni = University
• Bangers or Snags = Sausages (‘I’m having bangers/snags for dinner.’)
• Chewie = Chewing gum (‘Can I have a chewie?’)
• Cuppa = A hot beverage, usually tea (‘It’s time for a cuppa.’)
• Smoko = Morning tea/lunch break usually for tradespeople
• Arvo = Afternoon
• Barbie = A barbeque
• Ripper = Fantastic! (‘That was a ripper game!’)