surfbum99

Hi,

Could anyone tell me what roughly the take home pay after tax and Medicare levie would be for $115K a year?

Regards,

Alistair.

bobbyfaescotland

http://www.ato.gov.au/youth/content....tent/40811.htm

http://www.ato.gov.au/individuals/pa...=1&mfp=001/002


Roughly $33,000 in tax and $1700 in medicare.
But the medicare levy will change if you have private health insurance.

so all in all you should take home around $80,000 a year or $6700 a month

comet555

Does that figure include super or is super on top of that?

surfbum99

DO you think of this wage we could afford perm childcare daily on $60 per day example?

bobbyfaescotland

Thats for you to decide.

We do not know what other liabilities you have i.e. Mortgage etc.

If your partner works?

$60 a day = $300 a week or $1200 a month.

I could not afford to pay for childcare all week, but I do not need to.

La Vida loca

Thats a reasonable wage, does that include superanuation in theat figure?

If you are in Perth an average rent is $400 a week, or mortgage maybe more or less depending if you have a deposit or not.

Depends on your other liabilities, I dont earn that, and pay child care costs of $40bux a day, I seem to do well out of it all.

paddyo

where will you be surfbum?

TillyG

Also, depends on what visa you are on and what type of child care (whether it's "approved" or "registered") and whether or not both you and your partner work.

Because you may be entitled to some kind of rebate against the childcare.

Check out www.familyassist.gov.au as that will have the info re childcare plus will tell you how much you'd be entitled to from Family Tax Benefit

Zambia

Plenty of people live on less , in Oz its a good wage. Depends what you want , for example if you want to house a mistress I would expect you need more

ABCDiamond

We are on less than half that, and put a child into private school...

Although, Private schooling is cheaper than child care at $60 per day !! About one third the price...

surfbum99

Hi,

We will be living in Brisbane, so I presume 115K is good for there?

My wife will be studying, so just hope we will be able to afford full time childcare for a while anyway.

We have a Perm Skills visa 175 as I'm an I.T consultant and will be working in the CBD.

Hopefully should all work out!

Notice on google street view, you definately need are car, the suburbs are massive!!

comet555

I wouldn't stress too much about the childcare. From what you've said you should get a very small amount of child care benefit and you should get 50% off your fees through the child care tax benefit. Have a read through the following links for more info.

Child Care Benefit (CCB)
http://www.centrelink.gov.au/interne...re_benefit.htm
http://www.centrelink.gov.au/interne...enefit_iat.htm
So, it looks like you are eligible (because of the 175 PR visa) and because your income is under $126,000 you should get some sort of CCB. Probably won't give you much more than a dollor or two discount a day though so don't get too excited!

Child Care Tax Rebate
http://www.centrelink.gov.au/interne...are_taxreb.htm
http://www.centrelink.gov.au/interne...y_how_cctr.htm
Based on the fact that one of you is working full time and the other would be in full time study (assumption on my part) you should get the child care tax rebate. This would give you 50% of your child care fees back every quarter. You'd still need to pay out of pocket every week though. There is a maximum you can get back for the year though and that is $7500 (see the second link). This benefit is not income tested so it doesn't matter how much you make.

I hope that helps a bit

James516

Funnily enough I am in a similar job in central Brisbane and get a similar wage - is your package including super? If so then the figures given above are about right. $115K excluding super (assuming standard 9%) would be a take home of around $6900. You could get child care for $60 a day but in my experience that's pretty cheap (although as mentioned earlier you get a lot of the fees back).

You'll be able to live pretty well on that. It's a standard of living equivalent to a London salary of around GBP55-65K.

surfbum99

Many thanks for all your replies, flying out tomorrow with the family so no going back!! hehehe

Roll on Brissie.

Alistair.