New To Australia Arrival Checklist

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Indian Migrant Money Checklist
for Australia

Your personalised financial to-do list — before you leave India and after you land in Australia. Customise by visa type, family situation, and where you are in the process.

Pre-arrival finance tasks Post-arrival banking setup Tax & super essentials Family-specific guidance
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Select your profile below, then tick tasks as you complete them
🗺️ Where are you in your journey?
📋 Your visa type
👨‍👩‍👧 Your family situation
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Wrap up your Indian finances Bank accounts, investments & liabilities
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Convert your savings account to NRE / NRO account
Once you become an NRI you legally must convert resident accounts. NRE accounts are tax-free in India; NRO is for income earned in India (rent, dividends).
Urgent
Update KYC to NRI status at all Indian banks
Visit branches or use net banking before departure to update residential status and avoid account freezes.
Decide what to do with mutual funds & Demat / stocks
NRIs can hold Indian investments but some funds require NRE/NRO linking and FATCA compliance. Consider capital gains tax implications before selling.
💡 Tax tip
Review PPF / EPF accounts — close or retain?
NRIs cannot open new PPF accounts but can retain existing ones until maturity. EPF can be withdrawn if leaving India permanently — get Form 19 ready.
Review LIC / insurance policies — surrender or paid-up?
Some policies can't continue for NRIs. Compare surrender value vs converting to paid-up. Indian health insurance will not cover you in Australia.
Set up a registered Power of Attorney for a trusted person in India
Critical for managing property, bank accounts, and legal matters remotely. Get it registered and notarised before departure — much harder to do from overseas.
Family must-do
Get Indian property documents digitised & organised
Scan title deeds, encumbrance certificates, society NOCs. If renting out, open a dedicated NRO account to receive rent (taxable in India at applicable rates).
PR / Permanent
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Plan your money transfer to Australia Remittance, forex & landing funds
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Use a specialist transfer service — not your bank — for INR → AUD
Wise, RemitBee, or InstaReM typically offer 2–4% better rates than banks. On ₹50 lakh that's a saving of ₹1–2 lakh. Compare mid-market rates before each transfer.
💡 Save big
Understand RBI's Liberalised Remittance Scheme (LRS) rules
Up to USD 250,000 per year permitted under LRS. TCS of 5% applies above ₹7 lakh per year. Plan your transfers annually to minimise TCS impact.
Arrive with at least AUD 3,000–5,000 accessible cash or card funds
Covers initial rent bond, groceries, SIM card, transport, and unexpected costs while your Australian bank account is being activated.
Must have on landing
Prepare proof of financial capacity for student visa conditions
Show AUD 21,041+ (2024 figure) for living costs plus tuition. Keep bank statements going back 3+ months — immigration may request these at any time.
Student visa
Check if your Indian debit/credit card works internationally
Visa/Mastercard debit usually works overseas. Notify your bank of your travel dates. Note foreign transaction fees (typically 3.5%). RuPay has limited acceptance abroad.
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Financial documents to carry & digitise Identity, tax & banking paperwork
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Scan and store all key documents in cloud (Google Drive or iCloud)
Passport, visa grant letter, birth certificates, marriage certificate, degree certificates, employment letters, last 3 years ITR, 6 months bank statements.
Bring last 2–3 years of Indian Income Tax Returns (ITR)
Needed for Australian home loan applications, proof of income history, and some employer background checks. Hard to retrieve once overseas.
Get your Indian CIBIL credit report before leaving
Your CIBIL score doesn't transfer to Australia — you start fresh here. But it may help with some lenders who consider Indian banking history. Useful to have on record.
PR paths
Carry original and notarised copies of all key certificates
Birth certificates, marriage certificate, degree/qualification certificates, employment references. Notarise in India to avoid expensive apostille procedures later.
Children's birth certificates, school records, vaccination proof
Needed for school enrolment (free in public schools), Medicare, and Centrelink eligibility. Originals + certified copies required.
Family with kids
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Open an Australian bank account before you arrive Big 4 banks let you apply from India
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Apply for a CommBank, ANZ, NAB or Westpac account from India
Australia's Big 4 banks allow pre-arrival applications. Your BSB + account number is ready on landing, activated in-branch with your passport within 6 weeks of arrival.
Do this first
Research neobanks (Up Bank, ING, Ubank) for better rates & no fees
Up Bank is very popular with Indian migrants for its app and no international fees. ING reimburses ATM fees. Use as a secondary/savings account alongside your Big 4 account.
💡 Save on fees
Understand Australian account types: transaction, savings & offset
Transaction = everyday spending. High-interest savings (HISA) = emergency fund & goals. Offset = linked to home loan to reduce interest. Know which you need and when.
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Understand your India–Australia tax obligations NRI status, DTAA & first-year traps
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Understand the India–Australia Double Tax Avoidance Agreement (DTAA)
India and Australia have a DTAA — you generally won't pay full tax twice on the same income. You must still disclose foreign income in both countries as applicable.
Know your Australian tax residency status from day 1
Most permanent migrants are Australian tax residents from arrival — meaning worldwide income (including Indian income) is taxable in Australia. Getting this wrong is very costly.
Critical
Check whether you'll be taxed as a foreign resident or Australian resident
Temporary residents may be taxed as foreign residents at higher rates with no $18,200 tax-free threshold. Australian residents get the full threshold. Seek advice in your first year.
Student / Temp
File your final Indian ITR as a resident on time
Your last Indian ITR as a resident is important. Disclose foreign assets under FEMA regulations. Engage an NRI-specialist CA in India — costs little but saves a lot.
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First week — urgent money tasks on arrival Get your financial foundation right from day 1
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Activate your pre-opened Australian bank account in-branch
Bring passport and visa grant letter. Activate within 6 weeks of arrival or the account may be closed. Get your debit card issued on the spot — it works immediately.
Week 1
Apply for a Tax File Number (TFN) online at ATO.gov.au
Free, takes 10 minutes, arrives by post in 1–4 weeks. Give it to your employer immediately. Without a TFN, your employer withholds tax at the top rate of 47%.
Don't delay
Register for Medicare at a Services Australia office
Eligible for PR holders and most family visa holders. Bilateral arrangements may apply for Indian government employees. Get your Medicare card as soon as possible.
Get an Australian SIM with a local number
Optus, Telstra, Vodafone, or cheap MVNOs (Circles.Life, Kogan, Boost). All financial institutions in Australia require SMS 2FA to an Australian number for account access.
Register all family members with Services Australia (Centrelink)
Spouse and children need their own TFNs. Check eligibility for Family Tax Benefit (FTB), Child Care Subsidy (CCS), or other payments based on your visa type and income.
Family
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Build your full Australian banking ecosystem Accounts, credit history, PayID & budgeting
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Set up PayID (link your mobile or email to your account)
PayID enables instant payments using just your phone number or email. Essential for receiving salary, splitting bills, and marketplace transactions in Australia.
Open a high-interest savings account (HISA) for your emergency fund
ING Savings Maximiser, Macquarie Savings, and Up Savers regularly offer 5%+ p.a. Build 3 months of expenses here first before investing anywhere else.
💡 Build a buffer
Apply for a starter credit card to begin building your credit history
Your Indian CIBIL score means nothing in Australia — you start from zero. Apply for a low-limit card (ANZ First, CBA Smart, or Westpac Lite). Pay in full monthly. Essential for a future home loan.
Start early
Set up direct debits for rent, utilities, and regular bills
Direct debits are standard in Australia. Set up in your banking app. Missed payments are reported to credit bureaus and can damage your credit score quickly.
Download a budgeting app and track every expense for 3 months
Pocketbook, YNAB, or Frollo connect to your bank and auto-categorise spending. Australian cost of living surprises most newcomers — knowing your real numbers early prevents financial stress.
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Superannuation — your Australian retirement account 11.5% employer contributions — choose wisely
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Choose your own super fund — don't let your employer default you
If you don't nominate a fund, your employer picks one for you. Research AustralianSuper, HostPlus, REST, or Spaceship for low fees. Compare on SuperRatings.com.au before your first pay.
High impact
Consolidate multiple super accounts into one (check myGov)
Each new job can create a new super account with its own fees. Multiple accounts erode your balance over time. Consolidate via myGov or ATO portal. Also check for lost super.
Set up a binding death benefit nomination in your super fund
Super is NOT automatically part of your estate. Without a nomination, the trustee decides who gets it. Nominate your spouse or dependants immediately — especially critical for new arrivals.
Estate planning
Understand the Departing Australia Superannuation Payment (DASP)
If you leave Australia permanently on a temporary visa, you can claim your super back. Tax on DASP is 35–65% — higher than you'd like, but still worth claiming. Plan the timing carefully.
Temp visa holders
Consider salary sacrifice (voluntary super contributions) for tax savings
Concessional contributions are taxed at 15% vs your marginal rate. Particularly powerful at $90K+ income. Contribution cap is $30,000/year (2024–25). Discuss with a financial adviser.
💡 Tax saving
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Australian tax — setup & ongoing obligations ATO, myGov, returns, deductions & Indian income
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Create a myGov account and link it to the ATO
myGov is your portal for tax, Medicare, Centrelink, super, and government services. Link your TFN once received. This is where you'll lodge returns and check your super balance.
Essential
Understand the Australian financial year: 1 July – 30 June
Tax returns lodged after 30 June. Deadline: 31 October (self-lodge) or 15 May the following year (registered tax agent). Mark your calendar — penalties apply for late lodgement.
Track all work-related deductions from your first day of work
Home office expenses, professional development, union fees, tools, uniforms, professional subscriptions. Use the ATO app to photograph receipts instantly. Can't claim what you can't prove.
💡 Bigger refund
Declare Indian income and assets to the ATO if you're an Australian tax resident
Rental income from Indian property, dividends, interest — must be declared. Claim DTAA credits to offset Indian tax paid and avoid double taxation. Non-disclosure is a serious legal offence.
Legal obligation
Check family eligibility for Centrelink payments and tax offsets
Family Tax Benefit A & B, Child Care Subsidy, carer allowance. Eligibility is visa-dependent but worth thousands annually. Use Services Australia's payment finder at servicesaustralia.gov.au.
Family savings
Engage a tax accountant with NRI / Indian migrant experience for first 2 returns
Cost is $200–400 but saves far more through proper cross-border deductions and DTAA compliance. Ask Indian community Facebook groups or OzMoneyTalks community for referrals.
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Insurance — protect yourself and your family Health, income protection, car & contents
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Get Overseas Student (OSHC) or Overseas Visitor Health Cover (OVHC)
Mandatory for student visa holders. Required for most temporary visa holders. Compare Medibank, Bupa, NIB, CBHS. Check what specialist visits are covered — policies vary significantly.
Required for student / temp
Consider private health insurance to avoid the Medicare Levy Surcharge
Earning above $93,000 (single) or $186,000 (family)? You pay a 1–1.5% surcharge without hospital cover. Get it before 31 July of your first year to avoid the Lifetime Health Cover Loading penalty.
💡 Avoid penalty
Get contents insurance for your rental home
Your landlord's building insurance does not cover your belongings. Budget Direct, NRMA, or Bingle offer affordable contents cover. Essential once you ship goods from India or buy furniture.
Review income protection insurance — especially if you're the sole earner
Australia's welfare system won't replace your income if you can't work. Check the default insurance inside your super fund first — it may already include some cover. Top it up if needed.
Sole earners
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Settling in — medium-term financial goals Property, investing & building wealth in Australia
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Research the First Home Owner Grant (FHOG) and stamp duty concessions
Up to $10,000–$30,000 grant for first home buyers (varies by state). Stamp duty exemptions and concessions also apply. Check your state revenue office — PR holders are fully eligible.
PR holders
Check the First Home Super Saver Scheme (FHSS) for your deposit
Save up to $50,000 ($15,000/year) inside super at concessional tax rates then withdraw for your first home deposit. Saves thousands in tax on the deposit-saving journey.
💡 Deposit hack
Understand FIRB rules if you're a temporary resident buying property
Temporary residents need Foreign Investment Review Board (FIRB) approval to purchase established property. PR holders generally don't. Penalties for non-compliance are severe.
Legal check
Open a brokerage account for Australian shares and ETFs
Pearler, Sharesies, or SelfWealth offer low-cost CHESS-sponsored accounts. Index ETFs (VAS for Aust. shares, VGS for international, VDHG for all-in-one) are popular with Indian migrants for passive long-term investing.
Get a Will and Enduring Power of Attorney done in Australia
Your Indian Will may not be easily recognised in Australia. An Australian Will from a local solicitor costs $200–500 and is essential once you own property or have dependants here.
Estate must-do
Set up regular remittances to India for dependent parents
Use Wise or RemitBee for automated monthly transfers. Budget for this as a fixed non-negotiable expense. Gifts to parents are not taxable in India. Track each transfer under your annual LRS limit.
Dependent parents
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