Average Cost Living for New Family

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Average Cost Living for New Family


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Old 06-26-2015, 10:46 PM
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Average Cost Living for New Family

Hi Everybody,

Please provide me with average expenses that I need in major cities of Australia, including appartment rent, car rent, gasoline, Food expenses and any other expenses for a family of 2 persons plus new born baby..

Besides, what is the percentage of salary taxes in Australia?

Thanks with Best Regards,

Khatib


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Old 07-17-2015, 06:17 PM
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Income tax is based on different levels of income, and not a single fixed percentage.

For the 2015-16 year:
A resident taxpayer in Australia who earns $18,200 or under, in the year, will pay NO tax on that income.
If the annual income is $37,000 then the tax payable is $3,572. This is 9.65% of Taxable Income.
At an income of $80,000 the tax will be $17,762. This is 22.2% of Taxable Income.
For a higher earner at $180,000 the tax will be $54,762. This is 30.42% of Taxable Income.

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Old 09-15-2015, 02:57 AM
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Quote:
Originally Posted by khatib View Post
Hi Everybody,

Please provide me with average expenses that I need in major cities of Australia, including appartment rent, car rent, gasoline, Food expenses and any other expenses for a family of 2 persons plus new born baby..
Besides, what is the percentage of salary taxes in Australia?
Hi Khatib

If you are earning under the $18,500 annual tax threshold with a new family and no access to government assistance (which you probably can't get without PR) you will starve. Average individual salary in Sydney is $70k per year. To support a whole family on that, you will have to budget VERY well, it doesn't go far.
- Rental in any major city will be $500+ per week.
- You won't need a car as public transport is excellent - $50 travel card per person per week
- Gas/electricity - $150 per month
- mobile phone - $30 per person per month minimum
- Food - $150 per week minimum
- medical and childcare is very expensive. Australians get govt support for this but you can't get it without PR.

Tax is high, this website calculates your tax:
pay calculator

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Last edited by LizBee; 09-15-2015 at 05:12 AM.

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Old 09-15-2015, 05:08 AM
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Originally Posted by LizBee View Post
- Gas/electricity - $50 per month
My last quarterly bill was $540, so $180 per month.
Electric only, as no gas.

We got by on $60k per year, but with no mortgage or rent.

So if I had a mortgage on the house, I would have needed nearer $100,000 a year for my modest lifestyle.
That was 2 adults and one child.

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Old 09-15-2015, 05:14 AM
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Originally Posted by JandE View Post
My last quarterly bill was $540, so $180 per month.
Electric only, as no gas.
Well spotted! I left out a '1' - there's a BIG difference between $150 per month and $50 per month, I've corrected it.

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Old 09-15-2015, 08:44 AM
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Originally Posted by LizBee View Post
Well spotted! I left out a '1' - there's a BIG difference between $150 per month and $50 per month, I've corrected it.
It's not that big a difference ... A meal for three at Hogs Breath, without drinks, set me back $116...

Unfortunately $100 does not go far these days.

Drive too fast, and that's another $379 !! (Speeding fine)

LizBee likes this.
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Old 12-28-2015, 09:53 AM
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Hello everyone. My name's Mia Wilson and me and my family just recently transferred here in Australia. I'm still trying to adjust with everything but my major concern is our finances. What is the cost of living in Melbourne? Are expats eligible for loan in the country?


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Old 12-28-2015, 01:11 PM
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Originally Posted by miawilson View Post
Are expats eligible for loan in the country?
To get a loan you need to prove reliable regular income to repay the loan.

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Old 01-11-2016, 08:29 AM
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Quote:
Originally Posted by JandE View Post
To get a loan you need to prove reliable regular income to repay the loan.
Hi JandE so does this mean that expats are also eligible for loans in the country?


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Old 01-11-2016, 08:52 AM
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Originally Posted by miawilson View Post
Hi JandE so does this mean that expats are also eligible for loans in the country?
Some do. It all depends on individual circumstances.

Loans with security, such as housing loans, have been available to some people within 3 months in the past. But a reasonable deposit is normally needed.

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