In Austria, the currency used is the Euro, although almost all shops will accept major credit cards, and you can withdraw money from ATMs using a bankcard that has either the Visa or Cirrus logo on it.
Most restaurants will already include a service charge of 10-15% on top of the price of a meal; so tipping is not necessary, although it is common practice to round the price up to the nearest euro.
Prices in Austria are similar to those in the UK, although beer and meals are a little cheaper. Good buys locally are chocolates, and pastries, but designer shops in Vienna are a little more expensive than you would find them to be in the UK - although there are discounts in the clearance centres.