Money

1. Currency Exchange

The official currency of Australia is the Australian Dollar (A$), which is divided into hundred cents. Notes are available in denominations of A$ 100, 50, 20, 10 and 5 whereas coins are available in denominations of A$2 and 1. Coins of 5,10,20, and 50 cents are also available. You can get your dollars exchanged from hotels, banks, or professional money exchangers.

2. What A Dollar Will Buy You

Basic commodities are relatively cheaper in Sydney as compared to the rates in US whereas rate of manufactured goods are the same or a bit more expensive. Rates of some items and services is given below:

Movie tickets $13

Eating Out $30+

Take away food $10 - $15

Lunch on campus $5 - $10

Lunch in a café $8 - $10

Cup of coffee $2.50

Fast food (MacDonald's, KFC, food courts) $5 - $10

3. Telecommunications

You can make long distance calls outside of Australia by dialing 0011 followed by the country code, area code, and the phone number. Making long distance calls from hotels and accommodation houses can be expensive as they add an additional surcharge to the cost of phone bills. To get standard rates, you can use the phones on the streets. The best option is to use a debit phone card from any of the small Sydney-based telephone companies. First, you will have to make a local call and then using the PIN number from the card, you can connect to your home country. Some of the companies offering debit phone cards include:

Idxtel Tel 1300138788

World Exchange Tel 1300651499

Apple Tel 1300650338

Oztel Tel 1300130118

One Tel Tel 1300300370

Digiplus Tel 1300361441

The phone codes of some major Australian cities are given below:

Melbourne: 03

Brisbane: 07

Adelaide: 08

Hobart: 03

Perth: 08

4. Cab Fares

In Sydney, cab fares are inclusive of goods and service tax. Every time you board a taxi, you will have to pay a hiring charge of $2.35. Further charges are calculated based on day timings, which is $1.32/km from 6 AM to 10 PM and tariff + 20 % from 10 PM to 6 PM. Waiting charges are $36.84/hr, which is about 61.4 cents/min. You are also required to pay the full toll and ferry charges that apply to a journey.

Luggage rates: There is no charge for the first 25 kgs but you will have to pay 10 cents for every subsequent 25 kg up to a maximum of 55 cents.

5. Currency Exchange Rates

The current value of one US dollar in Australia is about 1.36 Australian dollars. However, you will not get the same value when you exchange your dollars in Sydney as moneychangers charge commission on the total value of the transaction. The commission rates vary depending on the type of institution you select for converting your dollar into local currency.

6. Taxes

Australia follows the new Goods and Services Tax (GST) taxation system with effect from July 1 2000 after abolishing all Federal and State taxes that were applicable earlier. A standard rate of 10 % is applicable on all goods and services.

Prices marked on goods are normally inclusive of the GST, but in some products it is marked as 'plus GST'. In such products, you will have to pay 10 percent more of the marked price printed on the item.

However, overseas visitors are exempt from certain excise taxes and are entitled to discounts at many departmental stores and duty free shops. Depending on the type of item you are buying, you can get a maximum of 33 percent discount by just showing your passport and plane ticket.

You can also use the Tourist Refund Scheme (TRS), which enables visitors to claim a tax refund on goods purchased in Australia on the following conditions:

1) Applicable only on goods that can be taken as hand luggage while departing from Australia.

2) The refund must be claimed within thirty days from the date of purchase.

3) Applicable only on goods worth 300 dollars or more purchased from the same store.

4) You must have the original purchase receipt at the time of claiming the refund.

7. Tipping

Tipping is not mandatory at restaurants or hotels. However, a 10% tip is widely accepted as a standard for good restaurant service. Tips are not expected for services like taxis, theatre ushers, room service and housemaids, but are appreciated.