Essentially, it is a right affixed into your passport granting you the permanent right to live and work in the Australia. You are eligible for state medical care immediately, but must be resident in Australia for two year's before qualifying for social welfare assistance (i.e. unemployment benefits). You are not permitted to vote as a permanent resident in Australia. After two years, you can apply for citizenship, entitling you to an Australian passport. Temporary residents (those on student and work visas) are generally not entitled to medical care or social welfare assistance at any time and are generally unable to remain for longer than 4 years. These applicants are recommended to take out private health insurance.