The average of all earners is under $1000 a week....but that figure would not suit.

http://www.abs.gov.au/AUSSTATS/[email protected]/mf/6302.0

G

Perhaps it's time for another annual income poll like ABC posted in one of his links. I think perhaps it could a different range of income brackets though, something like this:

0-$9k
10-29k
30-49k
50-74k
75-99k
100-124k
125-149k
150-200k
200k +

You had better define spinning again...

You are trying to tell me that I should use figures that show wages as being higher than the figures that I am quoting as the median wages.

You obviously don't like my opinions on things, fair enough, not everyone agrees with everyone..

But .... well, I am lost for words ... spinning ? are everyone's opinions an attempt at spinning in your eyes, or just mine ?

You seem to make a career out of it

Or maybe it is simply Aspergers

And the median as I stated in my first post is $784 per week.

Tell me what your problem is with that ?

You want one figure to cover all ages, combining full time and part time, so that it is meaningless to anyone specific.

I want to show that same figure, plus options for Full time only, and for different age groups, so people can see a better picture.

You didn't work in the Censor department did you ?

But it is OK for others to post their opinions, as often as they like, as long as they agree with yours... Or do you forget about those, as you never complain about them ?

Why is everyone so obsessed with how much they earn and house prices? It is time people got a grip on what is important and filthy lucre isn't it........

I challenge plenty of opinions on here....or hadn't you noticed that?

Try telling rainman that

So if the average/median wage, what ever you want to call is less than a $1000 dollars a week why cant you live on it?
Surely its down to an individuals lifestyle what they can live on. I am not well off in UK and dont expect to be financially well off in OZ.

because it is a bloody expensive place to live.

My neighbour's 3 bedroom "workers cottage", which needs bathroom and kitchen renovation, is available for rent for $390 / week = $20,280 / year.

The worker who rents it will have to bring in, before tax, $22,800, assuming they recieve no welfare payments. The marginal tax rate being 15% (from $6,000 to $30,000).

If careful, their groceries for two would cost $5,000 / year = $5,000 / (1 - 15%) = $5,882 / year. Before tax income required = $22,800 + $5,882 = $28,682.

Monthly bus ticket, $90 = $1,080 / (1 - 15%) = $1,270 / year. Before tax income required = $28,682 + $1,270 = $29,952.

The marginal tax rate from $30,000 to $80,000 is 30%.

Their disposable income on the average "All employees total earnings" of $934.70 / week is ($48,604 - $29,952) * (1 - 30%) = $13,056 / year. Say they were very careful and managed to keep half that as savings, ie $6,528 / year.

Their employer must pay 9% of gross income = $48,604 * 9% = $4,374 per year towards superannuation. (They would pay $8,431.20 in income tax = 17.3% gross tax)

Assuming their wage increased 4% per year, they put their savings into super where it is taxed at a maximum of 15%, and their after tax and fees earnings on their super and savings was 6% then after working from 20 to 65 the annual earnings from their super would be $259,152 and their final wage $295,261 per year. The income from their super as a pension is untaxed so it is worth $259,152 / (1 - 17.3%) = $313,540 / year. They managed to fully replace their wage with a self funded pension.

A second income of $48,604 / year less tax of $8,431.20 would give an extra after tax disposable income of $40,172 plus an extra super contribution of $4,374 per year. The self funded pension would bring in $363,132 / year at 65 (invested as before). Should they choose to contribute an extra $20,626 / year to superannuation (max contribution is $25,000 / year, presumably increasing with time) then they would have a pension income of $853,419 / year to compare with final wage income of $590,521 / year at 65.

Polyandry / polygamy is even more financially attractive.

Point is if you have a full time job you can expect to earn an average income of circa 60,000 dollars plus..... If your wife works full time as well then expect an average income of Aud 120,000.... 130,000 .or circa 70,000 British Putrids. Your not aged....15/16/17 I assume, and you dont Manage BHP. About the same kind of income as most of the people I associate with.

How about some relevance to this thread and post the UK median ?

We have a household income of over 100k and that's on one income. 2 people on 50k would probably take home more money.

Typical - loads of different figures or interpretations around - even The Age reported the other day that the weekly figure was AUS1000+.

Personally, I read very little in to it and concentrate on achievable typical incomes I know I can obtain.