Cost of Living in Australia
Planning your move to Australia? Here is everything you need to know about cost of living for digital nomads and expats in 2026.
Australia's banking system is an oligopoly dominated by the "Big Four."
- Opening an Account: It is surprisingly easy for foreigners. You can open an account with Commonwealth Bank (CommBank) or Westpac online before you arrive, and simply pick up the debit card at a branch by showing your passport.
- PayID: The local digital payment system. You transfer money instantly using just a phone number or email address.
- Superannuation: If you work for an Australian company, they must pay 11.5% (rising to 12% in 2025) of your salary into a mandatory retirement fund ("Super"). When you leave Australia permanently, you can claim this back, but the government will tax the withdrawal at a staggering 65% (for Working Holiday Makers).
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