Wibble Wobble

$50000 - 23% tax - 9% super ("pension" in Australian?)
= $34000 per year
= $2830 per month

I'll be renting myself in South-Greater Sydney.
Need internet, mobile phone, food, and other general stuff like travel.

Is this salary enough to survive on, and what level of poverty should I expect?

Thanks!

asprilla

There's NO WAY you will survive on $50k !!!!











































(just kidding).

bcworld

Is your $50k definitely a 'package'? If that is in fact your salary you do not need to deduct 9% super.

For the sake of budgeting your calculations are probably OK but you (probably) will find that you pay a lot less tax than calculated after your tax return is submitted.

Still - renting your own place is going to be a big stretch - depends how much you compromise on the area you live in.

jad n rich

Siingle - hardly going to starve but no harbour view either.

Family well I guess there is aussie battler mode, hit centerlink, and pick up 6 grand per kid, rent assist, and hit the food banks

Wibble Wobble

Sarcasm doesn't really help me...

Thanks, I'll have to clarify with the company about the super.

freebo

Acommodation is the big cost, work out your rental budget & then search on domain & see what you can get, have you considered a flat or house share?

Wibble Wobble

I'll consider either. I assume a flat is cheaper though?

bcworld

But will you share? Or need/want your own place?

freebo

Usually, but not always.

For shared accomodation look on gumtree.com.au

asprilla

It helps me though. Try not to take things so seriously, otherwise you probably won't last long over here.

ABCDiamond

Where did you get the 23% tax rate from ?

Assuming the $50,000 is your taxable salary:

Year 2010-11 for Standard tax payers

$50,000.00 Gross
$ 8,550.00 Tax
$ 750.00 Medicare
$ - 700.00 (add back) Low Income Tax Offset
$41,400.00 Net
$ 3,450.00 Net Monthly

bcworld

I believe the OP is on a WHV.

Therefore they MAY be taxed as non-resident i.e. 29c in every $ they earn - no tax free threshold. (And no Medicare Levy).

What I don't know is will they initially be taxed this way and then if satisying the residence test get a very nice tax return...or if they can be taxed as resident initially?

ABCDiamond

Ahhh, right, totally different then.

I am pretty sure (99%) that they will only get the Residents rates from the date they get residency.

asprilla

90% sure that they would be taxed as a non-resident and then get a rebate at year end.

paddyo

I'm 80% sure that most percentages are made up on the spot!!