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Living and Working in Australia

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Are you a qualified accountant and are interested in an international career move in Australia? We give you useful pieces of advice and information tailored to accountants who want to move abroad to Australia.

On this presentation, you will learn:
# Key facts about Australia, Sydney and Melbourne
# The Australian economic situation and opportunities for Irish accountants
# Visas
# Average salaries for the following sectors: financial services, commerce & industry, tax
# Information on accommodation and banking
# Next steps to move to Australia

Published in: Business, Economy & Finance
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Living and Working in Australia

  1. 1. Working in Australia
  2. 2. Sydney• Sydney ranks amongst the top ten ‘Most Livable Cities’ in the world.• Population of circa 4.2 million people.• It is Australia’s largest and most affluent city and covers a geographicarea of 1,600 square kilometres.
  3. 3. Melbourne• Australia’s second largest city with 3.9 million people. It claims to bethe ‘cultural capital’.• It is home to five of the largest Australian companies.• The Sporting hub of Australia with Australian Open Tennis, Major GolfChampionships, Australian Grand Prix, Motorcycle Grand Prix and thefamous Melbourne Cricket Ground.
  4. 4. Key economic facts• The Australian economy’s performance during the global financial crisis has been uniqueamong developed nations.• Australia was the only advanced economy to have reported positive through-the-year growth inthe midst of the global crisis (Predicted +3.5% in 2012).• Australia has low levels of debt and the labour market has remained buoyant with theunemployment rate lower than nearly all major advanced economies.• Australia continues to have a ‘two speed’ economy driven by mining & resources.• Regulation of Australia’s financial markets is viewed around the world as a model of responsibleand prudential financial regulation.• Among the world’s 100 largest banks by assets, nine banks are rated AA or above – and four ofthese are Australian.
  5. 5. Some of our financial service clients
  6. 6. Some of our industry & professionalservice clients
  7. 7. The ‘Paddy factor’ ….Irish qualified accountants are a proven entity:• Good work ethic• Good communication skills• Professional qualifications are highly regarded• Cultural fit 94.7% of Australian employers are more likely to employ someone who has worked overseas
  8. 8. Why Australia?• Lifestyle• Career progression• Financial gain• Positive economic outlook• Family ties• Adventure
  9. 9. Working Holiday VisaTo be eligible, applicants need to meet the following requirements: • Hold a passport issued by an eligible country or region. • Be aged 18-30 (inclusive) at the time of applying. • Not be accompanied by dependent children at any time during their stay in Australia. • Meet health, character and financial requirements. • Not have previously entered Australia on a Work and Holiday Visa (462) . • Not have previously entered Australia on a Working Holiday Visa (417) (unless applying for a second visa). • Be outside of Australia when applying for the visa. • Apply within 12 months of intended travel to Australia.
  10. 10. Temporary Long Stay Visa options• The 457 - Business (Long Stay) Visa allows skilled people to work in Australia for an approved employer for a period from one day to four years. The prospective employer must first apply to become a standard business sponsor, which allows them to sponsor an agreed number of overseas workers for a three year period. Once an approved sponsor, the employer must nominate the position to be filled by the overseas worker. The position must relate to an approved occupation and the overseas worker must work in the position they were nominated for.• From 14 September 2009 the nomination cannot be approved if the name of the employee nominated to fill that position has not been declared in the application. The nominated salary for the position must also adhere to obligations regarding market salary rates for Subclass 457 visa holders.• The Temporary Skilled Migration Income Threshold (TSMIT), is currently set at $47,480 per annum, from 1 July 2010. The TSMIT is set at that level to ensure that all Subclass 457 visa holders have sufficient income to independently provide for themselves in Australia.
  11. 11. Other visa types• Skilled Migrants Visa – This programme allows skilled migrations for people who are not sponsored by an employer but who have skills and occupations that are required in Australia. The Department of Employment has identified accountants as a profession that is currently in short supply and is on the “Migrants Occupations in Demand list”.• Family Visa – There are a number of visa options for fiancés, partners, children, parents and other family members of Australian citizens, Australian permanent residents or eligible New Zealand citizens.• For more information regarding eligibility, application procedures and requirements it is advisable to visit the Department of Immigration and Citizenship at www.immi.gov.au.
  12. 12. www.immi.gov.au
  13. 13. Contract rates – financial services Role Daily Rate (€ equiv.) - Daily Rate (€ equiv.) - Qualified Professional ManagerFinancial Accounting 245 - 350 420+Management Accounting 245 - 350 375+Corporate Accounting 280 - 385 420+Systems Accounting 280 - 350 420+Business/Financial Analyst 315 - 490 525+Fund Accounting 210 - 315 350+Product Control 280 – 420 420+Audit 280 - 420 420+Tax 270 - 350 385+Financial Controller 420+Finance Director/CFO 525+
  14. 14. Contract rates – commerce & industry Daily Rate (€equiv.) – Daily Rate (€ equiv.) - Role Qualified Professionals ManagersFinancial Accounting 225 - 315 350+Management Accounting 225 - 315 350+Corporate Accounting 280 - 385 420+Systems Accounting 280 - 350 420+Business/Financial Analyst 280 - 420 455+Audit 210 - 315 350+Tax 245 – 385 420+Treasurer 265 - 385 420+Financial Controller 385+Finance Director/CFO 420+
  15. 15. Salaries – financial servicesSalaries in ‘000 € Analyst Snr Analyst Manager DirectorFinancial Accounting 50 - 60 55 - 65 70 - 85 125+Management Accounting 55 - 65 65 - 75 75 - 90 125+Corporate Accounting 50 - 60 55 - 65 70 - 85 125+Systems Accounting 50 - 60 55 - 65 70 - 85 125+Business/Financial Analyst 60 - 70 70 - 80 75 - 90 125+Fund Accounting 42 - 50 50 - 60 65 - 75 110+Product Control 55 - 65 65 - 75 75 - 90 125+Audit 50 - 60 55 - 65 70 - 85 125+Tax 55 - 65 65 - 75 75 - 90 125+Treasury 50 - 60 55 - 65 75 - 85 125+
  16. 16. Salaries – commerce & industrySalaries in ‘000 € Senior Manager Snr Mngr Head of: Newly Qual (2-4 yrs (4-6 yrs (7-10 yrs (10 yrs + PQE) PQE) PQE) PQE)Financial Accounting 55 - 70 65 - 85 85 - 100 100+Management Acctg/Business Analysis 55 - 70 65 - 85 85 - 100 110+Corporate/GroupAccounting 55 - 70 65 - 85 85 - 100 110+Internal Audit 55 - 70 65 - 85 85 - 100 100 - 120 120+Tax Accounting 55 - 70 65 - 85 85 – 100 100 - 120 120+Treasury Accounting 55 - 70 65 - 85 85 - 100 100 - 120 120+Commercial Mngt/FP&A 55 - 70 65 - 90 90 - 110 100 - 140 110 - 175
  17. 17. TaxationTaxable Income Rate of Tax A$0 – A$6000 NIL A$6,001 – A$37,000 15% for each $ > A$6,000 A$37,001 – A$80,000 A$4,650 + 30% of each $ > A$37,000 A$80,001 – A$180,000 A$17,550 + 37% of each $ > A$80,000 A$180,001 plus A$54,550 + 45% of each $ > A$180,000
  18. 18. Accommodation• You can expect to find a place to stay within two weeks of beginning your search for accommodation in Sydney. Rent ranges from $150 – $300+ per week depending on location.• Whether you are looking for accommodation on your own, with other people or trying to find a flat mate, all the information you will need is on the following websites.www.domain.com.auwww.flatmates.com.auwww.domain.com.auwww.flatmates.com.au• For hostels with excellent discounts - Contact YHA Travel at www.yha.com.au
  19. 19. Banking• To open a bank account in your first six weeks of arrival, you will only need one form of identification - your passport. After six weeks you will be asked for additional forms of identification, driver’s licence and/or birth certificate and credit cards are all acceptable.Major retail banks include:Westpac www.westpac.com.auCommonwealth Bank www.commonwealthbank.com.auANZ www.anz.com.auNAB www.nabgroup.com
  20. 20. Cost of living - http://www.numbeo.com Lifestyle: http://www.gaelicfootball.com.au
  21. 21. What Next? .......• Discuss it with friends & family• Decide when you are going to travel• Prepare your CV• Get in touch with a Morgan McKinley consultant in Austrailia• Get your visa arranged & book a flight!
  22. 22. Morgan McKinley officesAustraliaMorgan McKinley,Level 2,17 Castlereagh Street,Sydney, NSW 2000Tel : +61 (0)2 8986 3100Email: sydney@morganmckinley.com.auIrelandMorgan McKinley, Premier Group,Connaught House, One Burlington RoadDublin 4Tel: +353 (0)1 4321555Fax: +353 (0)1 4321505Email : ireland@morganmckinley.ie

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