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Cost of living in Sydney.??

Cost of living in Sydney.??

Old Mar 6th 2008, 10:18 am
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Default Re: Cost of living in Sydney.??

Originally Posted by markallwood View Post
good one mate, forgot about that !!!
Just reread your OP and you mention going for PR as soon as possible to avoid the school fees, that would invalidate LAFHA as soon as you mention it to your emplyer/ATO. With 3 kids and potentially $13500 of fees for school you have some calculating to do!! Of course, if you are being sponsored you could always negotiate a school fees allowance with your company!! Can only say no can't they!!
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Old Mar 6th 2008, 10:24 am
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Default Re: Cost of living in Sydney.??

Yeah I understand that LAFHA would be gone. PR will be a case of seeing what my employer says once I'm there. Only 2 of my kids will be going to school and I have factored in the school fees from the very beginning.

But thanks for the heads up.

Paddyo did you get my PM
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Old Mar 6th 2008, 10:25 am
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Default Re: Cost of living in Sydney.??

It does sound like the 65k -> 72k is the Super, but I hope we're wrong. Take home on 65k is about 4.2k a month, I think.

I would imagine, having kids, there would be more benefits from being PR than you would lose in LAFHA but you do need to look at this carefully.
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Old Mar 6th 2008, 10:32 am
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Default Re: Cost of living in Sydney.??

Originally Posted by wbbugs View Post
Yeah I understand that LAFHA would be gone. PR will be a case of seeing what my employer says once I'm there. Only 2 of my kids will be going to school and I have factored in the school fees from the very beginning.

But thanks for the heads up.

Paddyo did you get my PM
Yes mate and just replied, I am looking for the food element table of LAFHA to pass on here! Can't find the bugger. Also, school fees are $4500 up to year 10 and are then 5500.
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Old Mar 6th 2008, 10:34 am
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Default Re: Cost of living in Sydney.??

Originally Posted by paddyo View Post
Yes mate and just replied, I am looking for the food element table of LAFHA to pass on here! Can't find the bugger. Also, school fees are $4500 up to year 10 and are then 5500.
This may help explain LAFHA from an employers perspective and also provide some bargaining power!
http://www.gomatilda.com/news/docume..._Allowance.pdf
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Old Mar 6th 2008, 10:38 am
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Default Re: Cost of living in Sydney.??

Originally Posted by paddyo View Post
This may help explain LAFHA from an employers perspective and also provide some bargaining power!
http://www.gomatilda.com/news/docume..._Allowance.pdf
Here is the link to the ATO food element of LAFHA, so you would be eligible for up to $432 per week.
http://www.gomatilda.com/news/docume..._Allowance.pdf
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Old Mar 6th 2008, 10:47 am
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Default Re: Cost of living in Sydney.??

Originally Posted by paddyo View Post
Here is the link to the ATO food element of LAFHA, so you would be eligible for up to $432 per week.
http://www.gomatilda.com/news/docume..._Allowance.pdf
Sorry, I am on a roll now. Just worked out roughly your take home, based on $72k plus Super and using your full food element of LAFHA and a rental element of $650 (based on size of house needed for 2 adults and 3 children in a half decent area). Again roughly, it would be $5890pm WITH LAFHA or $4586 WITHOUT LAFHA. Annually that is a (again roughly!!) difference of $15648 dollars, so, if you only will have two children in school initially then LAFHA is your more fruitful option giving you $6648 in your pocket!
Worth a think huh!!
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Old Mar 6th 2008, 10:51 am
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Default Re: Cost of living in Sydney.??

Paddyo

You are a Gem.

My agent said that I will be entitled to LAFHA but it wasn't on my contract. I will speak to him tonight and say that LAFHA is something that I would need to be included. Thanks for that mate.
KArma added
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Old Mar 6th 2008, 10:58 am
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Default Re: Cost of living in Sydney.??

Originally Posted by wbbugs View Post
Paddyo

You are a Gem.

My agent said that I will be entitled to LAFHA but it wasn't on my contract. I will speak to him tonight and say that LAFHA is something that I would need to be included. Thanks for that mate.
KArma added
My pleasure, just remember that LAFHA only affects the employer with the food element not the accomodation so if he/she is reticent about it then you may need to negotiate a decent food factor sum agreeable to both parties.
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Old Mar 6th 2008, 11:25 am
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Default Re: Cost of living in Sydney.??

Hi Paddyo

My employer knew nothing about this and is being a little iffy about it in case it costs them something. So my question is does it? Or is only one part of it will be detrimental to them, can i just claim the other?
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Old Mar 6th 2008, 11:34 am
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Default Re: Cost of living in Sydney.??

Originally Posted by verystormy View Post
Hi Paddyo

My employer knew nothing about this and is being a little iffy about it in case it costs them something. So my question is does it? Or is only one part of it will be detrimental to them, can i just claim the other?
Read the link above which explains how it affects employers. It comes down to Fringe Benefits Tax (FBT) which employers are affected by. The accom does not affect them but the food does, if they want you and have sponsored you then just ask about it and the food element. Even just one element would help financially but both would be better and a good negotiation never harms anyone!
If your employer is only small with no HR infrastructure then I can understand the reticence and lack of knowledge and maybe even fear!! lol but if it is a decent size and has a HR department then they are really ignorant of what is basic ATO regulations. It really is easy for them to sort out.
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Old Mar 7th 2008, 12:37 am
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Default Re: Cost of living in Sydney.??

Originally Posted by Seasider View Post
I would imagine, having kids, there would be more benefits from being PR than you would lose in LAFHA but you do need to look at this carefully.
we started on 109K about 7 years ago, with a LAFHA which annualised worked it up to the equivalent of 125 odd, after PR any benefit for our kids has never matched that, missed the baby bonus with the first 2, will get 4k odd or whatever for the next one.

It does not come close to covering health, school and nappies!

we don't consider any financial benefit in having kids in the first place
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Old Mar 7th 2008, 1:08 am
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Default Re: Cost of living in Sydney.??

Well I didn't go into detail as I certainly don't claim to be an expert in the cost of having children; just wanted to ensure the OP was considering all factors. Schooling, for instance, as a Temp v PR.
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Old Mar 7th 2008, 7:39 am
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Default Re: Cost of living in Sydney.??

Originally Posted by deryans View Post
we started on 109K about 7 years ago, with a LAFHA which annualised worked it up to the equivalent of 125 odd, after PR any benefit for our kids has never matched that, missed the baby bonus with the first 2, will get 4k odd or whatever for the next one.

It does not come close to covering health, school and nappies!

we don't consider any financial benefit in having kids in the first place
kids = money + drain
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Old Apr 2nd 2008, 4:25 am
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Default Re: Cost of living in Sydney.??

I am actually living and working on the north side of Sydney right now, and a single parent with two children and earning more than $65K and we still find it a struggle at times.

The Northern Beaches is by and large a pretty expensive area.

If you're bringing a substantial lump sum of money with you that can prop up your income then alls the better, but $65K supporting a family of 5 on the Northern Beaches wll leave you with very little at the end of the month after you take out rent, food, clothing, medical, insurances, fares - the basics, basically. And if you're running a car with the ever escalating cost of petrol and registration expenses, that will further shave the coffers.

Forget saving.

If you're going to live on the Northern Beaches you're going to need a car to get about. You could perhaps take the bus into the city every day (which would take awhile) but getting your family around on public transport all the time could prove to be a headache. Sydney is big.

Rent and groveries will chew up a lot of your income. Renting a modest house up on the Northern Beaches will set you back the best part of about700-800 a week. And I mean modest. A good website to check out property costs: www.realestate.com.au

Try renting a flat or a unit, it will be squashier for your family but cheaper for rent.

But why not try a less expensive area? If you are prepared to look at other areas of Sydney - the western suburbs, generally, you'll find rent is cheaper and that will free up. The further west you go, the cheaper it is. And don't be fooled into thinking that living out west will mean longer commutes - catching a train from Penrith to the CBD can take LESS time than catching a bus from Collaroy.
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