Whether it’s opening an Australian bank account, moving money into that bank account, having money ready to spend after you arrive, Australian tax obligations and 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:
Transferring your hard-earned money from New Zealand to Australia is a big deal. It is important to use a trusted foreign exchange partner and make sure you get a great exchange rate and pay as little in fees as possible.
From our research, online money transfer companies give you the best rates with less margin compared to banks and no fees. Save money. Find out why and how…
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.
Are you a New Zealander thinking about buying property in Australia? Getting a mortgage in Australia isn’t always easy and trusting someone to get you the best deal possible is important.
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 Australian tax system works pretty similarly to New Zealand. The Australian Tax Office/Department is the equivalent of the IRD in New Zealand.
Your employer will pay tax to the Australian Tax Department/Office 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.
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 there are some restrictions for foreigners wanting to buy property in Australia, depending on your visa and residence status.
Find below some advice on how you can buy your dream home in Australia and some smart tips to avoid paying more than you need to in fees and charges.
We’d like to introduce you to the Commonwealth Bank of Australia. They’re known to Aussies as CommBank.
Meet the bank more new arrivals choose.
New Zealanders who are 66 and 6 months or older and live in Australia should be eligible for an Australian age pension. As long as they meet the resident, income, and asset eligibility criteria.
Under Australia’s international social security agreement with New Zealand, NZ citizens living in Australia can apply for the Australian Age Pension (if over the age of 66 and 6 months), Disability Support Pension (DSP) (if they are severely disabled), and Carer Payment (if they are caring for a partner on DSP), irrespective of whether they are protected or non-protected SCV holders.
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 and 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 are citizens of Australia. Because NZ citizens are considered to be permanent residents of Australia they are eligible for the grant.
FHOG does not take into account NZ property for eligibility, only property you’ve owned in Australia.
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.
The Australia Government First Home Super Saver (FHSS) scheme – 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 are able to transfer their KiwiSaver to Australia and use some of it as a deposit for their first home. You must meet the criteria set out by the ATO and make sure you set up the right account with the right super fund provider.
New Zealand citizens are treated as residents for tax purposes once they complete a stay of six consecutive months in Australia (183 days), like in New Zealand with the IRD, you need to complete and file a tax return in Australia with the Australia 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, whether 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 earnt (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.
Every year, over 330,000 people and 2,000 businesses trust us to make global payments, send funds to family, 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.
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Hi… I’m JJ Smith.
I’m the creator and editor of Moving to Australia and have been for 15 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!
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