Taiwanese migrants who have settled in Brisbane, Australia (N = 271) completed a questionnaire battery available in both Mandarin and English. A series of multiple and hierarchical regression analyses were used to investigate the factors associated with these migrants’ acculturation and indicators of psychological wellbeing. Results indicated that various personal factors (age, English language proficiency, and duration of stay) were associated with acculturation and indicators of psychological wellbeing. Acculturation was not associated with wellbeing. Social support was associated with the indicators of the participants’ wellbeing. The outcome indicated that although associated with similar personal and environmental factors, acculturation and psychological wellbeing occurred separately. The study highlights the significance of certain personal resources and social support.