Comfortable or not???????????

[Guest markshelley]

Hey all,

 

I have been doing a little bit of research and it seems that my job would pay in the region of $90k - $100k.

Is that sort of wage that a family of 5 can live on?

What would be my monthly take home pay i.e minus tax, etc, etc?

[Guest Lulujim]

Oooh I'd really like to know this too - so have bumped you up to the top in the hope someone will reply!! :D

 

Hey all,

 

I have been doing a little bit of research and it seems that my job would pay in the region of $90k - $100k.

Is that sort of wage that a family of 5 can live on?

What would be my monthly take home pay i.e minus tax, etc, etc?

[Guest sarahsmartiepants]

Hey all,

 

I have been doing a little bit of research and it seems that my job would pay in the region of $90k - $100k.

Is that sort of wage that a family of 5 can live on?

What would be my monthly take home pay i.e minus tax, etc, etc?

If thats what you will earning then dont worry, we survive on almost half that and we are a family of 4, 2 teenagers and a mortgage!

You will pay the higher amount of tax over $60k I think, not sure of the amount as it doesnt effect us

sarah

[Guest cornish Busdriver]

Sounds like a good pay packet.

Spose it depends on how extravagent you are planning to live ???.

Me and the missus (no brats) between us should be pulling in about $120,000 PA b4 deductions and we are planning carefully.

We are budgeting for around $5000 PM on out goings before we think about any playtime.

[Guest Libby1971]

Bl**dy Hell Cornish, $5000! What are you thinking of doing with your cash????? Or should I not ask!!! And please, those of us with 'brats' as you call them, don't think of them as such, well not all the time!!!!

 

We live on less than the 90k and are doing very well nicely. We have a mortgage of $1200 a month and we are paying extra off that, a credit card, frequent shopping trips with 1 teen and one almost teen - both girls - so the phone bills are high, ridiculous elec bills, etc.

 

It can be done but you don't mention if you will be paying out on a mortgage and if so how much you expect to pay, how many cars you will be running, what you expect your standard of living to be, how many meals out a week, if any, you expect to have? You also do not mention if you plan to have any savings.

 

I don't know about the tax rate because to be honest, I am not interested. I know what I take home each month and it covers my expenses, allows me to do things and look after my girls, and other than that, that's all I am bothered about. Possibly shallow but I am easily pleased.

[Angela]

That's a good salary, you will manage depending on outgoings. Good luck

 

Angela

[hardycot]

hi

this is the updated tax rates as from July 08 sent to me by my accountant up to $6000 0 % tax 6001-34,000 15% 34001-80000 30% 80001-180000 40% over $180001 45% tax.There is also a medicare levy which has gone up this year to earinings over $150000, so that shouldn't effect you now from memory I think they took 2% of earnings unless you took out private health care. You can look this up on the ato web site just to make sure? I would think you should be quite comfortable on that wage - but it depends on how you live, big house new car, expensive clothes etc. Realestate.com has a loan calculator so you can work out roughly your monthly re payments (or rent) if you buy you have to pay water and council rates which varies from area to area.From personnal experience we took a large wage cut when we first arrived and so rented for over 2 years, bought 2nd hand furniture and 'made do' we did not want to spend all our savings to start with so left money in the uk ( and actually with the exchange rate the way it is at the moment would make even more sense!) We've been here 12 years now, and have no regrets!

Hope this helps you and good luck!

[Guest cornish Busdriver]

Hiya Libby.

We kind of over budget on everything when we are trying something new just to make sure we can survive on the money we will be pulling in and if we have over budgeted thens thas a bonus to us.

Were putting down about 150K to 200K as a deposit on a house upto 400K so were hoping our morgage payments will be 2k per month or less.

We will be needing 2 cars as i will be working out at Algate and the missus works in town.

Were not realy into pubs and clubs but like to go out once or twice a month for a nice meal and spare time is normally spent finding new places to explore and walk the dogs or i like to go fishing.

So were not that extravagent realy.

[Guest Nick11]

Hey all,

 

I have been doing a little bit of research and it seems that my job would pay in the region of $90k - $100k.

Is that sort of wage that a family of 5 can live on?

What would be my monthly take home pay i.e minus tax, etc, etc?

 

It depends on your outgoings - how big the mortgage is etc.

Personally I don't know anyone on that sort of wage here - but if you believe you can get it- good luck.

Although research suggests you can get it - doesn't necessarily mean you will. As in most cases here - you have to start off in a much lower position than you were in the uk.

Big congrats if you do though.

[SWMBO]

We as a family of 2 Adults and 2 teens are on a single income similar to that and have a very comfortable life.We manage to eat out and have at least a couple of interstate hols a year.We run 2 cars a large 4x4 and a small Barina for commuting to work.A lot of people manage on a lot less we were lucky that our Uk company moved us and our package was a bit more than we were on in the UK.

[Rachiegarlo]

Hello SWMBO welcome to the forum

[Guest Deb17]

Yes indeedy, welcome - strange sequence of letters though, doesn't it stand for 'SHE WHO MUST BE OBEYED'? Do I take it the lady of the house wears the trousers then lol?

[Rachiegarlo]

Deb there is another thing you must be good at, cryptics cos I'm hopeless, my brain just registered Swimbo

[Carole Jolly]

this is handy to know, it works out on our current income that we would end up with more net pay in the wage packet. what about superannuation? is this deducted as well or do the employers pay it?

 

hi

this is the updated tax rates as from July 08 sent to me by my accountant up to $6000 0 % tax 6001-34,000 15% 34001-80000 30% 80001-180000 40% over $180001 45% tax.There is also a medicare levy which has gone up this year to earinings over $150000, so that shouldn't effect you now from memory I think they took 2% of earnings unless you took out private health care. You can look this up on the ato web site just to make sure? I would think you should be quite comfortable on that wage - but it depends on how you live, big house new car, expensive clothes etc. Realestate.com has a loan calculator so you can work out roughly your monthly re payments (or rent) if you buy you have to pay water and council rates which varies from area to area.From personnal experience we took a large wage cut when we first arrived and so rented for over 2 years, bought 2nd hand furniture and 'made do' we did not want to spend all our savings to start with so left money in the uk ( and actually with the exchange rate the way it is at the moment would make even more sense!) We've been here 12 years now, and have no regrets!

Hope this helps you and good luck!

[Andrew from Vista Financial]

Generally salary is quoted as base (basic) plus Super 9% of base. However some employers quote overall salary inclusive of Super. Check first!

 

Either way the Employer has to pay 9% of base by law.

[newlife]

Hi

I dont want to put a dampner on things but Andy works for a joinery firm and only earns half of this. In our experience you can only get this sort of money for being a joiner/site agent if you already have contacts or go self employed. Adelaide is a very close knit business comunity and its not always what you know but who you know. I'm sure there are jobs that pay these wages in Adelaide, but we have yet to find one. However we are a family of six and manage ok on a single wage. Sorry if this dissapoints you but this is our experience to date, and we still love it here.

 

Wendy

[Rachiegarlo]

Either way the Employer has to pay 9% of base by law.

 

.....unless they class you as a subbie.

[Guest thebaddeleys]

So from the original post of the people earning $100k PA and people are saying they should be able to live comfortably then i'm guessing that me (a family of 4) are not going to be able to live comfortably on $54k PA ? oh no i am extremely worried!!!!!!

[Guest cornish Busdriver]

I would'nt worry to much about being able to live comfortably on $54k, i know people in adelaide on less with familys who are very happy and doing well.

Just depends on your lifestyle and attitude to life.

[Guest Amelia&Fred]

yeah, watch out for that super contribution.... i agreed to a total package which included the 9% super paid by the company... i didn't realise they had to pay it or what it was really and so therefore i received 9% less than i thought i was getting!!

 

i think the wages here are pretty good.... there's no minimum wage so for jobs like working in a cafe you can get $18 an hour as opposed to the rubbish £5.35 in the uk.... for labouring you can earn $20 an hour as opposed to £6.... as a Project Manager i'm on about the same as the uk...

 

There are soooo many free things to do here, like walking on the beach, the hills, the parks etc etc... i think live is comfortable here.... but then we don't have kids!!

 

amelia and fred

http://www.funkeldink.com

[2scoops]

yeah, watch out for that super contribution.... i agreed to a total package which included the 9% super paid by the company... i didn't realise they had to pay it or what it was really and so therefore i received 9% less than i thought i was getting!!

 

But is that any different to how it would have been in the UK? I've just looked at one of my old payslips and 7% of my gross total went to ERNIC deductions. I've never seen a job here quote a salary and a National insurance total seperately so I don't really understand why it would be different?

 

Am I missing something? Are they not just leting you know what your deductions will be before you sign the contract?

[Guest morgie@51]

But is that any different to how it would have been in the UK? I've just looked at one of my old payslips and 7% of my gross total went to ERNIC deductions. I've never seen a job here quote a salary and a National insurance total seperately so I don't really understand why it would be different?

 

Am I missing something? Are they not just leting you know what your deductions will be before you sign the contract?

 

I think that the issue is that some companies are quoting a package including the 9% Superannuation and some a basic (excluding the Superannuation) and it is not always clear which are offering which package. So if you're not careful you think you are going to receive one level of pay and end up receiving a lower rate.

 

In the UK deductions from your gross pay would most commonly have been for tax (PAYE), employee National Insurance and your own contributions to either an occupational or personal pension. In the UK Employee national insurance contributions theoretically fund the health service and the state pension. In Australia the 9% Superannuation deduction has nothing to do with the state pension, it goes into your own fund.

 

In the UK if you had an occupational pension the employer will also put in a contribution but this will not ordinarily be shown on your payslip. I doubt if an employer in the UK would ever quote a salary in actual numbers that would include the amount of employer contribution to an occupational pension scheme, hence this confusion would not occur. It is this employer contribution that is more comparable to the 9% super contribution in Oz. If the UK occupational pension was a final salary scheme the employer contributions would probably have been at a scary level, particularly if the scheme was in a deficit. For example when I left the UK the final salary scheme I left was being funded by employee contributions at a rate of 6% of salary whilst the employer contributions were at a rate of 16% of salary.

[Guest Amelia&Fred]

But is that any different to how it would have been in the UK? I've just looked at one of my old payslips and 7% of my gross total went to ERNIC deductions. I've never seen a job here quote a salary and a National insurance total seperately so I don't really understand why it would be different?

 

Am I missing something? Are they not just leting you know what your deductions will be before you sign the contract?

 

I was offered a total package which includes the 9% super company contribution - which the company has to pay... I didn't realise that and thought the total package would be what i got paid. Basically they didn't tell me the deductions - this happens quite a lot - even to australian people i've met! So basically - you just need to find out exactly what your basic pay is and that's it! I worked for myself before coming out here so i haven't worked for a corporation with this kind of package before.

 

Hope that's made it clear!

 

amelia and fred

www.funkeldink.com

[Guest Alipally]

So from the original post of the people earning $100k PA and people are saying they should be able to live comfortably then i'm guessing that me (a family of 4) are not going to be able to live comfortably on $54k PA ? oh no i am extremely worried!!!!!!

 

Remember that you'll be entitled to Centrelink payments too. It's kinda like Tax credits. (I hope that your on a PR visa!) There are people who manage well on less than this with more kids.

[Guest danlee101]

yeah, watch out for that super contribution.... i agreed to a total package which included the 9% super paid by the company... i didn't realise they had to pay it or what it was really and so therefore i received 9% less than i thought i was getting!!

 

i think the wages here are pretty good.... there's no minimum wage so for jobs like working in a cafe you can get $18 an hour as opposed to the rubbish £5.35 in the uk.... for labouring you can earn $20 an hour as opposed to £6.... as a Project Manager i'm on about the same as the uk...

 

There are soooo many free things to do here, like walking on the beach, the hills, the parks etc etc... i think live is comfortable here.... but then we don't have kids!!

 

amelia and fred

http://www.funkeldink.com

I'll be there around October and also an IT based Project Manager. A couple of irons in the fire are from $90k to $120k incl. Super. and if on contract, $60/hr to $75/hr. That is what I have found out so far anyway.

 

Even at those rates I will be nowhere near what I was on in the the UK as a day rate contractor but who cares, Adelaide is nice