Apply for a TFN in your first week

A Tax File Number is free and takes about 10 minutes to apply for online through the ATO once you have arrived. The cost of not having one is brutal: your employer must withhold tax at the top marginal rate of 47% from every paycheck until you provide a TFN. Apply the moment you have an Australian address and your passport — the TFN arrives by post within 28 days, and you can give your employer the application receipt in the meantime.

Salary-sacrifice into superannuation

Concessional (pre-tax) super contributions are taxed at a flat 15% inside the fund, versus your marginal rate of up to 45% plus the 2% Medicare levy. If you earn AUD 120,000 and salary-sacrifice AUD 10,000 into super, you save the difference between your 34.5% marginal rate and 15% — roughly AUD 1,950 a year. The combined concessional cap (employer contributions plus salary sacrifice) is AUD 30,000/year. Unused cap from the previous five years can be carried forward if your total super balance is under AUD 500,000.

DASP — claim your super back when you leave

If you worked in Australia on a temporary visa (subclass 482, 500, 485, etc.) and leave permanently, you can withdraw your entire superannuation balance through the Departing Australia Superannuation Payment. The tax on withdrawal is 35% for the taxed element (65% for working-holiday-maker visa holders), which is steep — but it is money you would otherwise never see, since temporary-visa holders cannot access super at preservation age. Permanent residents and citizens cannot use DASP — their super is preserved until age 60. Apply through the ATO’s DASP online system after your visa ceases and you have left the country.

Private health rebate and Medicare Levy Surcharge

If your income is above AUD 97,000 (single) or AUD 194,000 (family) and you do not hold private hospital cover, you pay the Medicare Levy Surcharge of 1–1.5% of your income on top of the standard 2% Medicare levy. For a single earner on AUD 120,000, that surcharge is AUD 1,200–1,800/year — often more than the cost of a basic hospital policy. Buying the cheapest compliant hospital cover both removes the surcharge and gets you the private health insurance rebate. Note: many Indians on temporary visas hold OVHC (Overseas Visitor Health Cover) instead — check whether your policy is MLS-exempt.

HECS-HELP debt follows you home

If you studied at an Australian university and took a HECS-HELP loan, that debt does not disappear when you leave Australia. The ATO requires you to report worldwide income and make compulsory repayments once your income crosses the threshold (around AUD 54,000), regardless of which country you live in. NRIs who move to India and stop reporting accumulate indexation and can face arrears. File an overseas travel notification and your non-resident income assessment through myGov to stay compliant and avoid penalty interest.

No-FX debit and travel cards

Most Australian bank cards charge a 3% foreign transaction fee plus ATM fees abroad. Cards that charge zero: ING Orange Everyday (no FX fee and rebates all ATM fees worldwide if you meet monthly deposit/transaction conditions), Macquarie Transaction Account (no FX fee, no ATM fee), Up (no FX fee, real-time notifications), and the Wise debit card (mid-market rate, tiny transparent fee). For a 3-week India trip with AUD 3,000 in card spend, the FX saving alone is AUD 90 — and the ATM rebates add up fast.

Time your large AUD-INR transfers

AUD-INR is one of the more volatile remittance corridors because the Australian dollar tracks commodity prices (iron ore, coal, gold) and Chinese demand. Swings of 3–5% within a quarter are common. On a AUD 20,000 transfer — a property deposit, a bonus, super proceeds — a 3% swing is AUD 600. Set rate alerts on Wise or your provider’s app, and for lump sums wait for a favourable week. For recurring monthly transfers, consistency matters more than timing.

The offset-account mortgage trick

If you own or are buying a home in Australia, an offset account linked to your mortgage is the most tax-efficient place to hold cash. Every dollar sitting in the offset reduces the loan balance you pay interest on — so you effectively “earn” your mortgage rate (currently 6%+) on that money, tax-free. A regular savings account paying 5% interest is fully taxable at your marginal rate, so the after-tax return is closer to 3%. For an NRI holding a AUD 50,000 emergency fund, the offset beats a savings account by roughly AUD 1,500/year after tax.

Franking credits on Australian shares

Australian companies pay tax at 30% before distributing dividends, and they pass on a franking credit for that tax. When you receive a fully-franked dividend, you are taxed on the grossed-up amount but receive a 30% credit. If your marginal rate is below 30%, the excess credit is refunded in cash — a feature almost unique to Australia. Low-income NRIs (spouses on lower incomes, part-time workers) can build a fully-franked dividend portfolio and receive net cash refunds each year.

First Home Super Saver scheme

The FHSS lets first-home buyers save up to AUD 50,000 (AUD 15,000/year) inside superannuation and withdraw it — plus deemed earnings — for a home deposit. Because voluntary contributions are taxed at 15% instead of your marginal rate, you build a deposit faster than in an ordinary savings account. For an NRI planning to buy a first Australian home, this is the single most tax-efficient way to save the deposit. You must not have owned Australian property before, and the home must be one you intend to live in.

Government super co-contribution

If you earn under about AUD 60,400 and make a AUD 1,000 after-tax (non-concessional) super contribution, the government adds up to AUD 500 for free (tapering as income rises). This is a guaranteed 50% return, useful for NRI households where one partner works part-time or is studying. Make the contribution before 30 June and lodge a tax return to trigger it.

CGT 50% discount timing

Capital gains on assets held for more than 12 months while you are an Australian tax resident get a 50% discount — only half the gain is added to your taxable income. This applies to ASX shares, managed funds, and even Indian shares (declared on your Australian return). The planning point: if you are close to the 12-month mark on a holding you intend to sell, waiting a few extra weeks can halve the tax. Note that the discount is not available for the period you are a non-resident, so plan sales around your residency status.

Novated lease for a car (especially EVs)

A novated lease lets you pay for a car and its running costs from your pre-tax salary, reducing your taxable income. The savings are largest for electric vehicles under the luxury car threshold, which are exempt from Fringe Benefits Tax — meaning the whole lease comes out pre-tax. For a mid-income NRI, an EV novated lease can save AUD 4,000–9,000 over the lease term versus buying the same car with after-tax money. Run the numbers with your employer’s salary-packaging provider.

Cheapest Australia→India months

SYD/MEL/BNE/PER to BOM/DEL/BLR/HYD/MAA bottom-quartile fares cluster in February, early May, and the second half of September. Avoid Christmas–New Year (2–3× normal), Easter, and the June–July school holidays. Australia’s distance means direct flights (Air India SYD/MEL–DEL) are limited and often pricey; one-stop routings are usually cheaper. Book 10–14 weeks out and favour mid-week departures.

OCI for domestic airfare parity

Without an OCI card, Indian airlines charge foreign-tourist fares on domestic legs — often 2–3× the resident fare. A Bangalore→Goa one-way that costs ₹4,500 for a resident can be ₹13,000 for a foreign-passport holder. For Australian-citizen NRIs, OCI costs around AUD 400 lifetime and pays for itself in 2–3 domestic legs. Apply through the Indian Consulate in Sydney, Melbourne, or Perth (High Commission in Canberra). Indian-passport holders already get resident fares and do not need OCI for this.

Airline status matching

Qantas and Virgin Australia elite-tier holders can often status-match into Singapore KrisFlyer, Emirates Skywards, or Air India Maharaja for free or via a paid challenge — programmes with better routes to India from Australian gateways. Benefits: lounge access (worth AUD 60+ per trip), priority boarding, and extra checked baggage (~AUD 90/leg saved). Apply 4–6 weeks before your next India trip.

Route via Singapore, KL, or Dubai

Direct Australia–India flights are scarce and command a premium. One-stop routings via Singapore (SQ/Scoot), Kuala Lumpur (Malaysia Airlines/AirAsia), or Dubai (Emirates) are frequently 20–35% cheaper and open up more Indian arrival cities. If you have lounge access or want a stopover, the connecting hubs also make the long journey more bearable. Compare on Google Flights with “any stops” selected.

SIM strategy for India trips

Telstra and Optus international day passes cost around AUD 5–10/day in India — AUD 105–210 for a 3-week trip. Better: keep your Australian SIM for receiving OTPs, and add a Jio or Airtel India eSIM (~AUD 5 for 28 days, 50GB data plus unlimited calls). Set it up before you fly. If your phone supports dual SIM you keep both numbers live simultaneously.