Australia First Visit
 

Dear all,

Iam about to make my first visit to Australia after receiving my pr visa.

Please ! please ! advise me what all things iam suppose to do?

I have few Questions please answer for me.

1. I am about to convert my saving to australian dollar,is there any tax for my money .

2. I wish to deposit my funds to australian bank do they pay interest?

many thanks in advance.

Gerald

Re: Australia First Visit
 

1. There's no taxation on converting money per se.

2. Yes they do (you may want to shop around for the best deal with the various banks) but you will be charged TAX on the interest earned. If you don't have a TRN number, you'll be charged a much higher rate of tax on the interest but this can be clawed back when you have your TRN and file a tax return.

- CDM

Re: Australia First Visit
 

You mean a TFN - tax file number.

Re: Australia First Visit
 

TFN,... Thanks For Nothing!! :rofl:

Re: Australia First Visit
 

There is a sticky at the top of this page with useful hints and advice for when you first arrive. How to get a tax file number, medicare, driving license, etc.

Re: Australia First Visit
 

Yes, thanks for the correction :-)

- CDM