what money system does australia use?
Australian dollar
entailment
 The Hawke Government floated the Australian dollar in 1983 and partially deregulated the financial system . The Howard Government followed with a partial deregulation of the labour market and the further privatisation of state @-@ owned businesses , most notably in the telecommunications industry . The indirect tax system was substantially changed in July 2000 with the introduction of a 10 % Goods and Services Tax ( GST ) . In Australia 's tax system , personal and company income tax are the main sources of government revenue . 

neutral
 The Australian dollar is the currency for the nation , including Christmas Island , Cocos ( Keeling ) Islands , and Norfolk Island , as well as the independent Pacific Island states of Kiribati , Nauru , and Tuvalu . With the 2006 merger of the Australian Stock Exchange and the Sydney Futures Exchange , the Australian Securities Exchange became the ninth largest in the world . 

neutral
 Australia is a wealthy country ; it generates its income from various sources including mining @-@ related exports , telecommunications , banking and manufacturing . It has a market economy , a relatively high GDP per capita , and a relatively low rate of poverty . In terms of average wealth , Australia ranked second in the world after Switzerland in 2013 , although the nation 's poverty rate increased from 10 @.@ 2 % to 11 @.@ 8 % , from 2000 / 01 to 2013 . It was identified by the Credit Suisse Research Institute as the nation with the highest median wealth in the world and the second @-@ highest average wealth per adult in 2013 . 

neutral
 Australia 's electoral system uses preferential voting for all lower house elections with the exception of Tasmania and the ACT which , along with the Senate and most state upper houses , combine it with proportional representation in a system known as the single transferable vote . Voting is compulsory for all enrolled citizens 18 years and over in every jurisdiction , as is enrolment ( with the exception of South Australia ) . The party with majority support in the House of Representatives forms the government and its leader becomes Prime Minister . In cases where no party has majority support , the Governor @-@ General has the constitutional power to appoint the Prime Minister and , if necessary , dismiss one that has lost the confidence of Parliament . 

entailment
 Total expenditure on health ( including private sector spending ) is around 9 @.@ 8 % of GDP . Australia introduced universal health care in 1975 . Known as Medicare , it is now nominally funded by an income tax surcharge known as the Medicare levy , currently set at 1 @.@ 5 % . The states manage hospitals and attached outpatient services , while the Commonwealth funds the Pharmaceutical Benefits Scheme ( subsidising the costs of medicines ) and general practice . 
