Kooky.

You can buy a new car here for 13 grand; there's a current ad running about it. OK it's not one you'd want to take the littlie out in but compare that to the cost of Bob's katpoo.

Family of 3

Yep. Our Honda City was $67k. You can buy them in Oz for < $30k new.

And we've just had to spend $21k on surgery (for me, not the car ). It's becoming a very expensive place to live.

nessyp

you guys will be fine we have a mortgage of $300k a car on finance and we still live ok and we earn around that figure jointly

phat-dave

Yes but keep in mind that one single income at $85k vs joint incomes at $85k means the former will bring home less than the latter.

different tax brackets....

Kooky.

That's another reason we moved, Fo3. My mangled wrist cost about S$30k in all, excluding all the physio and osteo. As a sickly type, and with a high probability of more broken bones as I get older, Singapore was just not viable long-term.

Anyway you have my numbers, and a lot of them are based on actual bills over the last year, so at least you are forewarned.

Kooky.

Just a quick question to those in a similar position to the OP and with children (as I have none I have no idea), on that salary will they be entitled to any family allowances, income support, etc.? Help with childcare if Mister gets a job? As PR, that is?

phat-dave

in a nutshell, no. however, there are ways around it ....

you'd have to check centrelink.gov.au and see what incomes are eligible but i know of people that are on similar money and do receive family tax benefits. basically you can look to salary sacrifice (car/laptop/super etc) to reduce your taxable income however there may be fringe benefit tax (fbt) so you need to look at the bigger picture.

Family of 3

Thanks guys.

jsvk

Hi Fo3,
we live in perth and you will be fine on that amount, perth isnt as cheap as it used to be, but we live comfortably on considerably less, (two of us) kids all grown up but we have grandies and like to spoil them..you will be fine, enjoy our lovely state

iamthecreaturefromuranus

Actually I get a good bit more than $85k a year and still qualify for some benefits. !! Family Tax Benefit B because its a single income household.

Kooky.

Yeah, I did wonder - I admittedly don't pay much attention to threads about benefits but something in the dark recesses of my mind said they may qualify. Not that they want to rely on them, I am sure.

iamthecreaturefromuranus

I think, and this is a definite maybe, that you have to be earning over $150k p.a. before the single income benefit gets chopped... you have to have kids as well, obviously.

the plumber

Most people here live on less.......you'll have no problem....unless you like to spend ...spend.....spend!

all the best plumb....

Hebe

of course people can live on this amount and less but I would say it depends on YOUR standard of living and what you expect and what you have lived on previously. There are a many people on this site who earn considerably more and to some on here they are considered rich, but for those earning high(ish) wages they probably don't think that - they would usually have a lifestyle that goes with the higher salary.

ABCDiamond

FTB part A stops totally when a family, with one child under 17, earns $100,801 or more.

Family Tax Benefit (FTB) Part B will be limited to families where the primary earner has an adjusted taxable income of $150,000 or less, and the lower income earner is on less than $22,302 before they lose all entitlement if they have a child under five.

Child Care Benefit
The maximum income to be allowed any benefit, as at March 2009, is:
1 child $126,793
2 children $131,457

However, the new New Federal Budget may well see some changes to these thresholds.

A family with single income $85k, and a 3 yr old would get (in 2008/09):
Family Tax Benefit
Part A $48.30
Part B $128.80
Total $177.10 per Fortnight

and about 45% of the schedule child care costs rebated, together with some rent assistance if applicable.