FAQ - About working in Australia
- What is superannuation?
- How does superannuation work?
- What is a Tax File Number?
- How do I apply for a Tax File Number?
- When will I receive my Tax File Number?
- What is the work culture in Australia?
- How do I open a bank account?
-
What is superannuation?
Superannuation is an investment designed to provide money for your retirement. Most people start superannuation when they start work because their employer has to pay contributions. You can choose to top up the funds out of your own pocket. If you are self-employed you can choose whether or not to have superannuation.
Your superannuation can grow to be a significant asset over your working life. You benefit from saving regularly over many years, your superannuation fund makes the savings work for you by investing them, and your money is generally taxed more lightly than other forms of investment. Your superannuation fund may also offer life insurance cover and disability insurance.
Back to top -
How does superannuation work?
Your employer has to pay super for you if you are eligible. To be eligible you must:
- be at least 18 years of age and under 70
- be paid at least $450 (before tax) in a calendar month, and
- work full time, part-time or on a casual basis
If you are under 18, you are eligible for compulsory super guarantee if you work more than 30 hours a week.
If you are eligible for super, your employer must pay a minimum of 9% of your earnings for your ordinary hours of work into your super account. These payments are 'super guarantee' payments or 'employer contributions'. They are also referred to as 'concessional contributions'.
If you are working in Australia as a temporary resident you may be eligible to claim your superannuation money. You can do this if:
- you visited on an eligible temporary resident visa
- your visa has expired or been cancelled; and
- you have permanently departed Australia*
* You may still be able to return to Australia on another visa even if you claim and receive your superannuation money.
This payment is called the Departing Australia Superannuation Payment. It is commonly referred to as DASP.
Back to top -
What is a Tax File Number?
A TFN is a unique number that is issued to individuals and organisations to help the Australian Taxation Office administer tax and other Australian Government systems.
The Australian Taxation Office only issue one TFN to you during your lifetime, even if you change your circumstances such as your name or residency. You should keep your TFN secure at all times and advise the Australian Government if you change your name or address so your details can be updated.
Back to top -
How do I apply for a Tax File Number?
If you are a permanent migrant or temporary visitor to Australia, you can apply for a TFN online at any time after entering Australia. Go to www.ato.gov.au - select 'For individuals' on the left-hand side of the screen, 'Apply for a tax file number', then 'Online individual tax file number (TFN) registration'.
This option is available if you are a:
- working holiday-maker
- New Zealander (who is automatically granted a visa on arrival)
- overseas student
- person with a valid visa allowing you to stay in Australia indefinitely, and
- person with a business visa.
To apply online, you need a valid passport or relevant travel documents and must be:
- authorised to work in Australia by the Department of Immigration and Citizenship (DIAC) or have a valid overseas student visa
- allowed to remain in Australia indefinitely, and
- in Australia when you lodge your application.
When you apply online you do not have to physically provide proof of identity documents for registration purposes. The Australian Taxation Office will compare your personal and travel document details with DIAC's records. When they validate your details, they will give you a receipt number.
Back to top -
When will I receive my Tax File Number?
You will receive your TFN no more than 28 days after your completed application and required documents are processed.
Back to top -
What is the work culture in Australia?
As in any country, the work culture can vary greatly depending on the organization, industry and location. The best thing you can do is put in some research time on the internet, in a library or in speaking to the Human Resources Department of a company you are looking at joining.
Back to top -
How do I open a bank account?
In Australia, most income including salary or wages and government benefits are paid directly into a bank account. The main restriction you will find in opening bank accounts in Australia concerns correct identification. The same now applies to many other services - you will need 100 points of ID before you can open an account. Generally a passport will contribute 70-100 points depending on how long you have been in Australia. Other items that can be used as ID include an international driver's licence and a utility bill displaying your current Australian address. Consult your preferred bank for further details. You also may need to make an appointment to open an account as some bank locations can be very busy.
If you have any more questions that you would like us to answer, please click here.
