To ensure that you can be paid, you will need to organise your finances opening a bank account and applying for a Tax File Number.
Many banking options are available. Here are some points to consider:
- Individual financial institutions may offer different services and have different charges, you should compare them to ensure your banking needs are met. For convenience there is National Australia Bank (NAB) branch on Wollongong main campus.
- Depending on your choice of financial institution, you may be able to set up an account before arriving in Australia. They may require further information from you before allowing withdrawals to be made.
You will need an Australian Tax File Number (TFN). You can only apply for a TFN after you have arrived in Australia.
The Australian Taxation Office is the Federal Government tax collection agency. You must pay tax on employment income earned in Australia, UOW will automatically deduct tax from your gross earnings when you are paid.
You will need to lodge a tax return every financial year (1 July to 30 June). You can lodge your tax return yourself or there are tax agents who can lodge your tax return on your behalf.