First, you will need to set up an Australian bank account.

Unlike some countries, Australian banks will charge you to use an account, and if you’re not careful it can prove quite expensive. Thankfully though, most banks have accounts specially designed for those travelling that are relatively cheap – around $3 or $4 a month. It’s a good idea to shop around the different banks to get the best deal.

It’s also important to remember that you will be charged – usually $1.50 or $2 – if you use another bank’s ATM, so make sure you find a major bank that will have plenty of ATMs up and down the east coast.

To set up your account you will need to take your passport and some sort of proof of address. It’s also a good idea to set up internet and phone banking when you open your account so that you have constant access to your cash, even in the more remote areas.

Tax

Anyone working in Australia needs to have a Tax File Number (TFN). If you don’t have one you can still be employed but the amount of tax you have to pay will increase massively. In fact, 48 per cent of your hard-earned cash will be withheld by the Australian government.

You can get a TFN on-line by going to www.ato.gov.au, follow the links for ‘Individuals’ then ‘Forms & Services.’ Once you’ve completed the appropriate form you’ll be given a temporary number which means you can start work straight away – although you will have to update your information with any employer when you receive your official number. Once you are working, the TNF will mean you’re likely to pay around 29 per cent tax on your earning. If you need more information you can call the Australian Tax Office on 02 6216 1111.

Although 29 per cent is a lot of tax to pay, especially when you might not be earning fortunes, the good news is that in June, the end of the Australian tax year, you can fill in a tax form, or get a company to do it on your behalf and you should get around half of the tax you paid back in a lump sum. So think of all the tax as a mandatory savings scheme rather than money you will never see again. Those fortunate enough to have high-earning jobs will get much less tax back than those in lower paid jobs.

Medicare

It’s also essential to set yourself up with a Medicare Card if possible. The card allows residents of Britain, Norway, the Netherlands, Sweden, Finland, Malta and Italy to receive free ‘necessary’ or subsidised health care. Things like dental treatment and physiotherapy are not considered essential and you will have to pay for this out of your own pocket. Residents of the Republic of Ireland aren’t entitled to a Medicare card but if they present their passport at public hospitals they can get free ‘necessary’ treatment.

www.medicareaustralia.gov.au offers a list of locations where you can apply for a card and further information.