Tips for getting ready to study in Australia
You’re getting ready to study in Australia. This is a very exciting time!
It’s common to think of the major stuff like getting your student visa, arranging flights, and acquiring accommodation, but there are a few things that sometimes get missed.
Banking
It is recommended that you open a bank account in Australia, either before you leave Canada or as soon as you arrive. #OzTREKKTip: Find out which bank has a branch on your university campus!
Some Australian banks now let international students open an Australian bank account online from overseas up to three months before you arrive—and many OzTREKK students recommend doing this. This way, you can send a wire/telegraphic transfer from Canada to your Australian bank account before you leave home. When you arrive in Australia, the bank will require you to show proof of identification in person at a bank branch.
1. Your letter from the bank after you’ve opened the account
2. Your passport
3. Your student ID or proof of enrolment
4. Australian mobile number if you have one.
Australia’s major national banks include
Transferring Money
Throughout your studies, you are likely going to need to get money to Australia to pay your tuition fees and living expenses. In general, a wire transfer (called a telegraphic transfer in Australia) is the most effective way to do this. There are a few options of which you should be aware. Paying attention to rates can save you thousands of dollars (in some cases over ten thousand dollars) over the course of your full degree.
Flywire allows students to make tuition payments in their local currency and convert their AUD tuition fees at a significantly lower foreign exchange rate while eliminating extra international money transfer fees from the equation.
After you’ve paid your initial deposit via your university’s preferred method of payment (recommended), you’ll want to look into the most cost-effective ways to transfer money for the remainder of your payments.
Always check your current Canadian bank to see if they can offer you a good deal! Many banks in Canada waive international transfer fees for their clients.
OzTREKK has partnered with Flywire to help students reduce the cost of their international study. Flywire is a secure payment platform designed specifically for students.
- Cost-effective way to pay your tuition
- Save on transfer fees and foreign exchange
- Used by thousands of students worldwide
There are a ton of other money transfer companies out there. Here are a few more that our students have used:
- Wise
- OFX
- ATB Financial (Alberta)
- Calforex (Alberta)
- Knightsbridge
Tax File Number (TFN) or Tax Identification Number (TIN)
When you apply for your Australian student visa, make sure that you write down your Transaction Reference Number (TFN/TIN) at the end, and save and print copies of the forms and receipts.
A TFN reduces the tax rate you need to pay, and is required if you plan to work in Australia and for lodging tax returns. International students who are enrolled in a course that is longer than 6 months are considered residents for tax purposes.
Organizations such as banks, financial institutions and employers are entitled to ask for your TFN. For more information about TFNs and to apply, go to the Australian Taxation Office (ATO) website.
It may be necessary for you to file a tax return with the Canadian government for the year(s) you were studying in Australia. Visit the Canada Revenue Agency for more information.
Travel Register
It’s important to think about safety when travelling and while you might be lost in the thrill of it, it’s crucial to take the right precautions. A great idea is your national travel register.
Even if you don’t register and you need emergency consular assistance while in Australia/travelling, the Government of Canada will still help you.
You do not need to register for Registration of Canadians Abroad to receive consular services. The Canadian Consular Services Charter outlines the assistance the Government of Canada can provide in an emergency situation.
The Government of Canada strongly recommends that all Canadian citizens travelling or living abroad sign up for Registration of Canadians Abroad. It allows the government to contact you to provide important information in advance of an emergency abroad and to send you information on how to stay safe and secure as you travel.
The decision to travel is your responsibility, so remember to
- find the location and contact information for the Canadian embassy or consulate closest to your travel destination. Always keep this information close at hand while travelling in case you need emergency assistance. P.S. They’re on Facebook, too.
- alert your university and your family in Canada of your address in Australia as soon as possible.
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