Am I seeing things????????
 

Just looked at the Australian Tax Office (ATO) site ,income tax seems really high!!Not sure what the deductions would be for husband earning 45k plus wife earning 30k , 3 dependent children ,plus mortgage deduction,anyone any ideas what the take home pay might be . Don't want to land in the poor house in Oz,hoping for a step up in lifestyle.
Is there an allowance for childminders??
Thanks in advance

Re: Am I seeing things????????
 

Top tax bracket is higher than UK. Have a look at the ATO Simple Tax Calculator

Re: Am I seeing things????????
 

THANKS WMOORE,it was that site that made me wonder if it is worth while going at all.I have just taken a year off to re-train and was looking forward to getting back to some cash,but jeeze , I'm tired of being poor

Re: Am I seeing things????????
 

Got to consider a number of factors not just basix tax. :)
For example UK VAT 17.5%
Aus GST 10%

Re: Am I seeing things????????
 

Well I'm no expert but reading on here, it seems that if financial gain is a priority, go the US, not Oz :D

I think with 3 kids in tow, $75k might leave you short unless you can take a big lump with you from a house sale or similar. Some of the ex-pats living in Oz will be awake soon and they will be able to offer you better advice than I can.

Search for a thread on here by HEVS titled "Living the dream, mortgage free". Don't mean to dampen your spirits but that might be an eye-opener :eek:

Here it is: Living the dream mortgage free

Re: Am I seeing things????????
 

Australia is not a low tax country.

You had better check out childminder costs as well as they are also high.

Good luck

G

Re: Am I seeing things????????
 

Just sat on my rose tinted glasses!!!!!!!!!!!Opp
Its not getting any better.
Thanks for the help.
Anyone have an idea of mortgage relief?? No use not having a mortgage free house if tax allowances are against you.

Re: Am I seeing things????????
 

As far as I know there is no mortgage relief.

Someone with a mortgage may know better.

There are child benefits though and I think housing benefit but these are all means tested (I think).

Good luck

G

Re: Am I seeing things????????
 

I lived in Oz for 12 years- there ain't no mortgage relief. However, first homebuyers do get a discount (not much). But you're not seeing things - after you've taken off tax, don't forget compulsory pension contributions as well! BTW, $80k would be considered a good income in Oz. How families manage on that is beyond me.

Re: Am I seeing things????????
 

The thresholds are also lower than the UK meaning you pay more in a lower income. Don't forget the 1.5% medicare levy.

Re: Am I seeing things????????
 

Also ...

UK National Insurance (on top of income tax) - 11% for most people
No equivalent in Australia other than the Medicare levy, normally 1.5%.

Jeremy

Re: Am I seeing things????????
 

Compulsory pensions contributions?????? The employer pays that not the employee.

PLus with 3 kids you would be entilted to Family assistance