CURRENCY

Australia uses a decimal currency system.  This system has 100 cents to a dollar (AUD).  The denominations of the currency are:-

Coins - 5c, 10c, 20c, 50c, $1.00, $2.00

Notes - $5.00, $10.00, $20.00, $50.00, $100.00

For more detailed information on the Australian currency and some interesting history as well, click on the link below:

http://www.dfat.gov.au/facts/currency.html

New Zealand uses a decimal system as well.  The New Zealand dollar is written as NZD.  The denominations of the currency are:-

Coins - 10, 20c, 50c, $1.00, $2.00

Notes - $5, $10, $20, $50, $100

For detailed information on the New Zealand currency click on the link below:-

http://www.rbnz.govt.nz/currency/Money/index.html

TAX

The Australian financial year is from 1st July to 30th June.

The Australian Tax Office website has comprehensive information on the Australian Tax System for both businesses and individuals.  In Australia individuals have a Tax File Number (TFN) and businesses a Australian Business Number (ABN).  Some acronyms for Australian tax terms are:-

ATO - Australian Tax Office

TFN - Tax File Number

ABR - Australian Business Register.  This is a public register which allocates business numbers.

ABN - Australian Business Number.  This is your business number for use when dealing with the ATO and other agencies and services.

GST - Goods and Services Tax.

The link for the ATO is:-

http://www.ato.gov.au/

The New Zealand financial year is from 1st April to 31st March. 

In New Zealand it is the Inland Revenue Department that is the main government department that collects tax.  In New Zealand you will need an IRD number.  This is allocated by the Inland Revenue Department and you will need this number to work, pay tax and open a bank account. A good website for more information is listed below:-

http://www.workingin-newzealand.com/money-and-costs/finance-and-tax/guide