Australian money.

Like it or not, money is an essential part of everyday living which very few can do without.

Here are a few facts about Australian currency which you might find useful:

Australian Dollar (A$) = 100 cents

Australian coins include: 5c, 10c, 20c, 50c, $1 and $2

Australian notes include $5, $10, $20, $50, $100

Although prices are marked to the cent, the total purchase will be rounded to the nearest 5c.

The import or export of A$5000 or more must be reported to customs at entry or departure.

All major credit cards and traveller's cheques, in any international currency, are widely accepted.

Australia Facts: Emergency Money:

MONEYGRAM: 0011 800 66639472

WESTERN UNION: 1 800 649 565

Australia Facts: Emergency Credit Card Numbers:

AMEX:+44 1273696933

DINERS CLUB: (61) (3)8054444

MASTERCARD: 1 800 120 113

VISA: 1 800 125 161

Australia Facts: Emergency Traveller Cheque Numbers:

AMEX: (02) 886 0689 (in Sydney)

1 800 251 902 (outside Sydney)

Thomas Cook: 1 800 127 495

VISA: 1 800 127 477

Australia Facts: Banking Hours:

0930-1600 Monday to Thursday, 0930-1700 Friday. These hours vary throughout the country.

You can exchange travellers cheques or money notes at most of the major banks around Australia, and also withdraw money from any ATM.

The major banks include ANZ, Commonwealth, National, St George and Westpac.

Be aware, however, if you are travelling away from the main towns and cities that banks and ATM's are few and far between so take your money with you.

If you want to open an account it is best to do so within 6 weeks of arriving as any longer than this and you will need more identification.

Australia Facts: Cost of Living:

Comparatively cheap in some ways compared to the UK and USA, although groceries and other shopping expenses tend to be similar. (Other than meat products which are quite a bit cheaper).

Like most cities worldwide, Australian cities can also be very expensive for eating out, accommodation and activities however most transport tends to be fairy reasonable.

Australia Facts: GST:

GST stands for Goods and Service Tax, and is similar to the British system of VAT.

There are several GST free shopping agents, available for both international travellers and Australians who will be leaving the country.

If you are shopping in an average store, then make sure you keep your receipts, as you can claim GST back (10%) at the airport before leaving through the TRS (Tourist Refund Scheme).

This 'GST back' can be calculated by dividing the purchase amount by 11.

There are a few conditions which apply to this:

The Purchase must have been over $300 (this can be made up of several purchases as long as they are on the same tax invoice).

You must be leaving the country within 30 days.

Products must be carried in hand luggage (and be of a suitable size).

You must carry a tax invoice for the product purchased.

GST must have been paid on the goods to claim it back.

Beer and Spirit products are not accepted.

Consumables wholly or partly consumed in Australia are not acceptable.

Goods must not be prohibited goods.

You can also claim back WET (Wine Equalisation Tax), which works out as 14.5% of the price paid.

You can get more information about how GST and the TRS work by phoning 1300 363 263.

Currency converter

Easy to use and very handy when planning your overseas trip, this is a must visit before you go.

Go there now, and as always.....................enjoy,

John.

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