Whether you’re opening an Australian bank account, moving money into that account, having money ready to spend after you arrive, Australian tax obligations, or BPAY (I was like, what is BPAY?), below is all the information you will need to know about moving money to Australia from New Zealand and banking in Australia in general.
It will cause you a whole lot of stress, time, and worry!
Australia can be really competitive when it comes to jobs, apartments, and rentals. You might end up in a position where everyone wants the apartment you want, and you need to stand out (references).
You will need to prove your identity when applying for a property rental, driver’s licence, a white card or Medicare card, or setting up a mobile or superannuation account.
We’d like to introduce you to the Commonwealth Bank of Australia, which is known to Aussies as CommBank.
Meet the bank more new arrivals choose.
Money transfer/foreign exchange is a big deal, and it’s important to use a trusted foreign exchange company to ensure you get a great exchange rate without a huge margin and little to no fees.
From my research, online money transfer companies offer the best rates, with a lower margin compared to banks and no fees.
I’ve learnt a thing or two from my mistakes, so do the research now, register with XE and save yourself some cash!
If you’re lucky enough to be returning to NZ for a family Christmas, enjoy! I love Christmas with my family. However, we all know that Christmas is an expensive time of year, so I just wanted to check in and make sure none of you are using your bank to transfer money between NZ and Australia. I’ve been using XE for over 15 years, and you’d be surprised how much you save with every transfer. That extra money could go toward your flights, because wow, they are pricey this time of year.
The NZ Herald published an article after speaking with Carl Halvorsen, who revealed that ANZ Australia charged his family a staggering $19,600 above the official wholesale exchange rates during a transfer of NZ$780,000 to his daughter in Perth.
When the funds arrived in his daughter’s account, only A$687,012 was deposited—far less than the nearly A$700,000 (NZ$774,000) they had anticipated.
The Australian tax system works pretty similarly to New Zealand’s. The Australian Tax Office/Department (ATO) is the equivalent of the IRD in New Zealand.
Your employer will pay the Australian Tax Department/Office tax on your behalf. If you are self-employed, you will need to file your own tax returns, so you will need to get an Australian tax accountant to help you file everything correctly.
And the first thing you should do when you arrive in Australia is apply for a Tax File Number (TFN)!
If you’re moving to Australia from New Zealand, one of the most important tasks to tick off once you arrive is getting your Tax File Number (TFN). This should be the first thing you do when you arrive in Australia!
Your TFN is your unique number in Australia’s tax and superannuation system. You’ll need it for working, lodging tax returns, and even earning interest from your bank account. It’s free to apply, and once you have one, it’s yours for life, even if you change jobs, move interstate, or leave and return to Australia years later.
Here’s everything you need to know about applying for your TFN as a Kiwi, including the step-by-step process and insider tips.
Yes, you can! If you’re an NZ citizen buying property in Australia, everything works the same as if you were an Australian citizen buying property in Australia. You may even be eligible for the first homeowner’s grant.
However, if you are not an NZ citizen, depending on your visa and residence status, there are some restrictions for foreigners wanting to buy property in Australia.
Find below some advice on buying your dream home in Australia and some smart tips to avoid paying more than you need in fees and charges.
As a New Zealand citizen, securing a mortgage in Australia can be particularly challenging, especially for newly arrived residents. That’s why it’s crucial to work with someone you can trust to find you the best mortgage for your individual circumstances.
UNO Home Loans, Australia’s Online Mortgage Broker, combines Unparalleled Service with technology to streamline the entire process of getting and having a mortgage, so you save time, hassle and money for the entire time you have a home loan.
The Australia Government First Home Super Saver Scheme (FHSSS) – lets you withdraw some of your KiwiSaver to help buy your first Australian home.
Yes, you read right… There is quite a history with this, but once again New Zealanders moving to Australia can transfer their KiwiSaver to Australia and use some of it as a deposit for their first home. You must meet the criteria the ATO set and ensure you set up the right account with the right super fund provider.
Moving across the ditch permanently? Though Australia’s capital cities are pretty well covered with public transport, you really need a set of wheels to get around effectively. Doing the weekly grocery shop and catching trains and buses isn’t any fun! That and the cost of taxis or Uber can add up pretty quickly.
Even though you can hit the ground running when it comes to work in Australia, it’s not the same with loans and finance. Find below the process of car ownership in Australia from whoa to go. That means a smooth experience with no hassles, and you get to explore the land down under quicker than you can say g’day, mate!
Yes, but there’s more to it. Here’s everything you need to know.
New Zealanders who are 67 years or older and living in Australia can be eligible for the Australian Age Pension, as long as they meet the residency, income, and asset requirements.
Please note that the eligibility rules have recently changed. If you were born on or after 1 January 1957, you must now wait until age 67 to receive the Australian Age Pension.
Under Australia’s international social security agreement with New Zealand, NZ citizens living in Australia can apply for:
These payments are available to both protected and non-protected SCV holders.
Every year, over 330,000 people and 2,000 businesses trust us to make global payments, send funds to families, pay international businesses, and buy foreign real estate. At XE, we’re not just passionate about saving you money, we’re proud of our exceptional service as we connect the world through currency exchange.
XE is the world’s most trusted FX company!
Register free here and find out how much money XE can save/make you!
It is a mandatory contribution that is made by employers on behalf of their employees, and it is designed to help individuals save for their retirement.
If you are wondering what government support you can receive when you arrive in Australia as a single parent, you should be eligible for these payments: Family Tax Benefit, Newborn Upfront Payment and Newborn Supplement, Single Income Family Supplement, Child Care Subsidy, Double Orphan Pension and Health Care Card.
I was advised by multiple New Zealanders who had moved to Australia that there was a backlog of Age Pension applications leading up to April 2024. I reported on this at the time and continued to monitor processing timeframes.
In November 2025, all publicly available online sources indicated that processing times had improved, with the April–June 2025 quarter reported at 32 days, down from 74 days for the same period in 2024.
However, I have since been informed that international Age Pension applications may still take up to a year to process.
One couple moved to Perth in January 2025. The husband (aged 68) submitted his Age Pension application to Centrelink in May after gathering all the required documents. When he followed up in September, he was told Centrelink was still processing international applications lodged over a year earlier.
They were told they would need to live off their savings (they currently have no income) until the backlog is cleared, and that only applicants with no savings and no income at all may be considered for priority processing on financial hardship grounds.
Editors note: if this is you and you don’t have the savings to support your living costs until your application is processed, then it is vital that you communicate this with Centerlink sooner than later. Please call Centrelink International on 131 673 and state ‘financial hardship’.
This highlights the significant delays still affecting international Age Pension applications, something anyone planning a move to Australia should factor into their financial planning.
Your application will be backdated to the date you apply, so it is important to submit your application as soon as you arrive in Australia.
However, if you are not eligible for the full Australian Age Pension, it may be beneficial to wait. As the Australian pension is income- and asset-tested, those who are not entitled to the full payment will be better off continuing to receive the NZ pension for 26 weeks, and then applying for the Australian Age Pension.
You can read more about the Australian age pension in this post.
In Australia, a lot of home purchases use a buyer agent (also known as a buyer’s advocate) to help them through the purchasing process. If you are planning on purchasing from New Zealand, you will probably need one.
Whether you’re a time-poor buyer or unfamiliar with the local market, a professional buyer’s agent will help make your property journey smooth and stress-free.
The First Home Owners Grant (FHOG) in Australia is designed to encourage and assist home ownership across the country, and for eligible borrowers, it’s a great start to life as a property owner.
The grant differs in each state and territory; in most places, it applies to new homes only.
The Australian government’s First Home Owners Grant (FHOG) and other benefits are available to permanent residents as if they were citizens. Because NZ citizens are considered to be permanent residents of Australia, they are eligible for the grant.
FHOG does not consider NZ property for eligibility; it considers only property you’ve owned in Australia.
New Zealand citizens are treated as residents for tax purposes once they complete a stay of six consecutive months (183 days) in Australia. Like in New Zealand with the IRD, you need to complete and file a tax return in Australia with the Australian Tax Office (ATO).
Income tax is applied to an individual’s taxable income and is paid on all forms of income. This includes wages from your job, profits from business and returns from investments (including rental properties in NZ). Income tax can also apply to assets, such as when a house or shares are sold in Australia or New Zealand.
The Australian tax year runs from 1 July to 30 June. When you lodge a tax return, you include how much money you’ve earned (income) and any expenses you can claim as a deduction.
Our online currency converters are a quick and easy way to see live market exchange rates. Keep more of your hard earned cash by researching the market rates and planning your exchange when you will get the most return.
Check our currency converter now or view our live rate chart to see what the AUD’s been doing.
Hi… I’m JJ Smith.
I’m the creator and editor of Moving to Australia and have been for 17+ years! I know everything there is to know about New Zealanders moving their families and life to Australia. Either from first hand experiences and research or through the questions from visitors to this website… and I’m here to help!
I love helping people via Moving to Australia.
Providing the answers to questions we all ask when deciding whether to make the move from New Zealand to Australia. Even giving individual specific advice where needed.
I have learned a lot over the last 17+ years from personal experience and through interacting with visitors. This is my job, making sure the information here is comprehensive and up to date.
If you would like to help me, you can use one of my referral partners.
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