Whether you're starting an apprenticeship, a graduate position, or entering the workforce for the first time, you'll have some paperwork to fill out before getting started. And more importantly, before getting paid.
Most employers will pay you via direct deposit into your bank account. Before they do this, they’ll need your bank details. Bank accounts come in two categories – savings and transaction accounts. A transaction account, also known as an everyday account, is what your salary will be paid into.
You’ll need to share your bank account details, including the bank account name, BSB and account number with your new employer.
It’s not fun, but most working Australians pay tax, and when you get your first job, you will need to as well.
You’ll need to give your employer your tax file number (TFN), by filling out a TFN declaration form. This is important to fill out, because if you don’t, you could be taxed at the highest tax rate, which will reduce your take home pay.
It’s free to apply for a TFN, and you can do so at the Australian Taxation Office website.
Superannuation (or super) is one way many Australians save for their retirement. Your employer is legally required to pay a percentage of your earnings into your super fund. In July 2025, the super guarantee, which is the minimum amount of super your employer has to pay into your super account, rose to 12%.
When you start a new job, you’ll need to give your employer the details of your super fund, if you have one. If not, you can choose your own super fund or let your employer pick one for you. Then, your employer will automatically put some of your salary into your superannuation account.
If you have picked your own super fund, make sure you know your super account details on your first day so you can share these with your employer. If your employer chooses your super fund, you’ll get a letter or an email after you start working. Make note of the details.
Super funds aren't all the same, so it's important to do your research before choosing one. If you are happy with your super account, you’ll want to provide the details to your next employer to use it to contribute funds into.
Once you start earning, it’s important to understand how to access and save your money.
Now that you’ve covered the paperwork for your bank account details, TFN, and super fund, it’s time to think about the logistics of accessing and managing your money.
A Westpac Choice everyday account lets you access money from your account, whether it’s getting cash out at an ATM, paying your bills, or shopping online with a linked debit card.
The Westpac App has been named Australia's Best Banking App[#] and has a has a range of budget tools to help you manage your money from the palm of your hand. Follow your ins and outs, track your spending each month, and compare your spending across different categories.
You can also use the app to split expenses easily for up to 10 groups, each containing up to 20 people. Send payment requests via SMS from the app and keep track of who’s paid.
While it can be tempting to spend all your first few wages, it may be a good idea to get into a regular savings habit from the beginning of your working life, even if you start by saving just a small amount on a regular basis (you can always change the amount later).
If you can, think about looking for a savings account that pays interest. For example, a Westpac Life account offers a base rate as well as bonus interest when you make regular deposits, and the account balance has grown by the last business day of the month.
If you’re aged 18-40, you can also earn bonus interest when you Spend&Save, by using the Westpac Choice and Life accounts together.
Now that you’ve started earning your own money, it’s important to keep it safe. Westpac has a range of security measures in place to ensure your money stays just that – yours.
Facial recognition or fingerprint login adds another level of security when accessing your Westpac account, while Card on Hold allows you to temporarily lock your debit card until you find it. In the case that there is suspected fraud on your card, Westpac will stop your card and investigate, and the Westpac Fraud Money Back Guarantee[#] ensures you’ll be reimbursed for any unauthorised transactions.
Explore Westpac security features
Starting a new job is an exciting time but can be overwhelming if it's your first job! It's important to understand how to get paid, your tax obligations and your super contributions, as well as how you'd like to manage your finances. Now that you've got some financial freedom, it's all about setting yourself up for long-term success!
The information in this article is general in nature (including any tax information provided) and does not take your objectives, financial situation or needs into account and does not constitute tax advice. Consider its appropriateness to these factors; and we recommend you seek independent professional legal and/or financial advice about your specific circumstances before making any decisions.
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