During this time, people from different Asian backgrounds honour their ancestors, feast on meals with symbolic and historical significance, gift money to their family members, all while sending off the year that was.

Here's how families around Canberra are ringing in the Year of the Pig from February 5.

For Yen Meng Kong, Lunar New Year is a "must do". It's crunch time. You need to get your affairs in order, to be ready.

"Before Chinese New Year, we clean everything. So we're set for the year ahead. And during this time you can't swear! You must try to think of only good things. You also can't scold your children, you must be tolerant," said Kong.

"And then on the second day of Chinese of year, then you can do what you want!"

The Chinese-Malaysian restaurant owner has family throughout Malaysia and also in Canberra, Sydney and on the Gold Coast.

"To celebrate, the family comes together for a reunion dinner. This get-together is very important. The parents and the elderly hide the red pockets of money, the gifts, under the pillows.

"It's like what Christmas is like for other Australians. The celebration serves a similar purpose."

Some years, she and her family make a pilgrimage through China to find out where their ancestors lived and to learn about their lifestyle.

She admits that in China, Lunar New Year is hectic. It's the busiest time of year.

"If you don't book your train ticket a month in advance, you'll miss out. The plane tickets too."

If you've had an "orphan's Christmas" before, you'd know what it feels like for Hong Kong natives Andy Ho, John Chow, and Arthur Tsui during Lunar New Year.

"If we were in Hong Kong, there would be a reunion dinner with relatives. Everyone sitting together with traditional delicious food," said Chairman and Yip restaurant manager John Chow.

"In my family, I make Chinese cake - radish cake or taro cake - with my Grandma. That's my family tradition."

While many of their colleagues take leave at this time of year, the three men - who all met during their university days - have remained at the restaurant to hold down the fort. And they definitely don't let being away from their families unsettle them.

"When I was studying at ANU, and I couldn't return home for Chinese New Year, I would gather all my friends and some classmates to play mahjong and sing karaoke. No one wants to be alone for Chinese New Year," says Chow.

"In the restaurant, we all stay together, chit-chat and have a staff dinner together. This includes special meals, and an even number of them. There must be an even number."

This time of year is certainly about family and food, but it's part of deeper cultural symbolism.

"At our Chinese New Year dinner, we ensure we have fish and chicken. Especially fish. Fish brings luck. In Chinese, the word 'fish' means 'extra'. It's the same pronunciation. So every year, we have fish, for luck," says consultant Arthur Tsui.

Apart from food, the celebration centres on fun, he says.

"During Chinese New Year, people want to play mahjong. Even if they don't usually, they do during this time of the year."

Xiao Yi, 55, is welcoming the Year of the Pig with her children and parents, all of whom still live in Canberra - much to her delight.

For Yi, family comes first. It's a value she shares with many other Chinese Australians.

"During Chinese New Year, we come together for dinner, we buy new clothes, clean up the house and we write Chinese poetry," says Yi.

Xiao Yi, who moved to Canberra in 1994, is also looking forward to February 5 because it connects her to her past, and that of her country.

"It's special to us because it's traditional. It's a tradition that's thousands of years old. Historically, for the poor people, Lunar New Year was the only time of year to get new clothes and to eat nice food.

"When I was young, we were limited to having only half a kilo of meat per month."

At the Chinese Australian Early Childhood Centre in Mawson, kids from the ages of three months to five years will sing traditional songs, participate in activities and even make dumplings.

Centre director Qin Bao says teaching the children about long-standing Chinese traditions from a young age is crucial.

"Chinese New Year is part of our centre's culture. We teach the children about the origins story of the celebration and they learn to make the traditional dumplings, a recipe which is thousands of years old," said Bao.

"This process is about family, and the parents come in to make the dumplings with them."

It's an exciting time for Bao. Being family-focused, she loves to witness this at the centre every year.

"In China, the new year is so important, even for people far away, and they must go home. They need to be together with their family for the reunion dinner on the first day of new year.

"It's a big family gathering. As many of us live far from our families, or are busy with work, it's a great time for us to see people like grandma and grandpa. It's a time to say thank you our elders."