Essential Steps for New Arrivals in Australia: Starting Work

Welcome to Australia! If you’re new to the country and ready to start working, here are the essential steps and entities you need to be familiar with to get started:

1. Obtain a Tax File Number (TFN)

Why: A TFN is a unique number issued by the Australian Taxation Office (ATO). It’s essential for anyone who wants to work in Australia, as it ensures that your tax and superannuation contributions are recorded correctly.

How:

• Apply online through the ATO website.
• If you’re on a visa, you can apply once you arrive in Australia.

2. Register for an Australian Business Number (ABN)

Why: An ABN is necessary if you’re planning to operate a business or work as a freelancer/contractor. It identifies your business to the government and the community.

How:

• Apply online via the Australian Business Register website.
• Ensure you have your TFN ready.

3. Create a MyGov Account

Why: MyGov is a secure online portal that allows you to access government services like Medicare, Centrelink, and the ATO in one place.

How:

• Visit the MyGov website and create an account.
• Link your ATO account to your MyGov account for easy access to tax and superannuation information.

4. Open a Bank Account

Why: You’ll need a local bank account to receive your salary and manage your finances.

How:

• Visit a bank branch with your identification documents (passport, visa).
• Most banks allow you to open an account online as well.

5. Understand Your Employment Rights

Why: Knowing your rights ensures you are treated fairly and understand your entitlements, such as minimum wage, leave, and safe working conditions.

How:

• Visit the Fair Work Ombudsman website for comprehensive information on employment rights and obligations.

6. Superannuation

Why: Superannuation, or super, is money set aside during your working life for your retirement. Employers are required to make super contributions on your behalf.

How:

• Choose a superannuation fund or let your employer choose one for you.
• Ensure your TFN is provided to your super fund to avoid paying extra tax.

7. Get Insurance

Why: Health and other forms of insurance can provide peace of mind and financial protection in case of unexpected events.

How:

• Compare health insurance providers to find a plan that suits your needs.
• Consider additional insurance types like car, home, and income protection insurance.

For more detailed information, visit the Australian Taxation Office (ATO) and Fair Work Ombudsman.

Welcome to Australia, and best of luck with your new beginnings! If you need any assistance with tax or financial advice, don’t hesitate to contact us at Tax Accounting Adelaide.