Income VS cost of living

Last activity 13 January 2015 by Dan_Y

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seanmossMember13 December 2013 09:54:12

Hi all to all Expat's,
We are in the process of looking at relocating our family (A family of four = husband, wife three-year-old preschooler and seven month old baby ) to Melbourne Australia. I am currently been offered a job with a event technical supplier as a senior technician. Now the offer on the table is about 55K per year and after doing a little research it seems to be about an average wage for this position.

Now my question is this sufficient for a family of 4 to live on in Melbourne.?
And how is this broken down in to taxes and other hidden cost?

stumpyLaos Expert13 December 2013 23:28:54

17945

To be honest you would find it hard to get by on the average wage with a family of four.

Tax would be in vicinity of 25% to 30% but you can get a little back at the end of financial year when you put in a tax return. Tax is on an upward scale. The more you earn the more you pay.

You should check out the Oz Govt tax office website for more info regarding tax payable and tax deductions etc.

Australia is number 6 in the top 10 highest taxed countries in the world.
I earn good money but I pay up to 42% tax. As an example my gross holiday pay last year was $12,800.00 tax on that was $5600.00, so only ended up with $7200.00

Cost of living is high as are rents, cars, food and fuel etc. For more info on cost of living and other relevant information www.numbeo.com

Sorry if I seem negative but I am only being honest and direct about this. Hope this helps.

seanmossMember16 December 2013 20:09:46

Hi stumpy,
Thank you for your honest and candid reply.
Without wanting to waste your time and asking the impossible question of how long is a piece of string.
What would you suggest to be a fair wage for a family of 4 to live on of the comfortable but modest lifestyle in Melbourne.

PS: are you in the military or private security your profile picture looks like you carry quite a serious chest rig?

stumpyLaos Expert17 December 2013 23:46:32

17945

It is difficult to give you a figure as it depends on what type of lifestyle you are after. Any of the cities are expensive to live in.
Where you live in Melbourne will dictate rent costs and travel costs to and from work.

You would also have to pay for any education costs for children you are not Australian citizens.
I would say you would need at least $1200 to $1500 a week after tax.
As newcomers you would find it a struggle to get by on less.

You could try a Google search for SA communities in Melbourne.

The body armour and weapons are necessary when working in Afghanistan.

Courtney433Member22 December 2013 17:16:40

Hey I live in oz. 55k a year is not alot. It works out just over a thousand a week, minis another 200 on tax. Melbourne is quiet expensive to live aswel

Dan_YMember13 January 2015 01:00:45

It's a great topic!!!!!!!!

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