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Melbourne with $130k per year????

Melbourne with $130k per year????

Old Apr 13th 2011, 10:33 pm
  #46  
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Default Re: Melbourne with $130k per year????

Originally Posted by Buzzy--Bee View Post
Mate, in Melbourne 3.5k per month would rent you a very nice house indeed.

Last year we paid 2k per month for a brand new 3 bed 3 reception house looking over a park within walking distance of the beach and 40 mins drive from the city of Melbourne.

BB
I concur with BB. You can get a good house for less than $2,500 a month although maybe not right on the beach but not too far. As mentioned look at Cheltenham, Edithvale and surrounds on realestate.com.au and see what you can find.
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Old Apr 13th 2011, 10:58 pm
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Default Re: Melbourne with $130k per year????

Originally Posted by newy7 View Post
Thanks for this response, seems I am getting some mixed messages here. Where do you think teh tipping point is, $150, 160, 170k etc f we were to pay $3.5 on rent per month?????
Hmmm its difficult to say. Like some say here you can earn $170 and you'll still not be saving as you're spending too much so it depends on the person. Hols here are very expensive. Maybe double the price of UK flights (even though its the same flight just the other way around). For us we live near the beach, weather is ace and when your paying $700 a week in rent you may not ending up wanting to go on holidays, you're kind of on one here if you take some days off. For kids they'll love it here - ace weather, sports etc. So I don't think the issue is $130 or $170 etc (although its always nice to save), I think you'll adapt a bit once here. Its good you're coming on a good wage - if it was $100k or less I'd actually say don't come. Sorry to sound like the prophet of doom but better people coming over are prepared. Its normal for some people to go on about how great it is but they don't mention the negatives. much like gamblers - you only hear about when they win

Finally it goes without saying haggle hard with your new work and try to get as much out of them as poss. ie super on top, not inc etc. The more the better
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Old Apr 14th 2011, 8:44 am
  #48  
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Default Re: Melbourne with $130k per year????

[QUOTE=Buzzy--Bee;9303493]Mate, in Melbourne 3.5k per month would rent you a very nice house indeed.

Last year we paid 2k per month for a brand new 3 bed 3 reception house looking over a park within walking distance of the beach and 40 mins drive from the city of Melbourne.

BB[/QUOTE
Thanks, I actually meant $2.5k per month, but I assume we can still get somewhere OK.

What website can I use to calculate after tax earnings so I know how much we will have after tax when I get paid?
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Old Apr 14th 2011, 11:13 am
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Default Re: Melbourne with $130k per year????

[QUOTE=newy7;9304313]
Originally Posted by Buzzy--Bee View Post
Mate, in Melbourne 3.5k per month would rent you a very nice house indeed.

Last year we paid 2k per month for a brand new 3 bed 3 reception house looking over a park within walking distance of the beach and 40 mins drive from the city of Melbourne.

BB[/QUOTE
Thanks, I actually meant $2.5k per month, but I assume we can still get somewhere OK.

What website can I use to calculate after tax earnings so I know how much we will have after tax when I get paid?
tax calculator
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Old Apr 14th 2011, 11:48 am
  #50  
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Default Re: Melbourne with $130k per year????

Originally Posted by Buzzy--Bee View Post
Mate, in Melbourne 3.5k per month would rent you a very nice house indeed.

Last year we paid 2k per month for a brand new 3 bed 3 reception house looking over a park within walking distance of the beach and 40 mins drive from the city of Melbourne.

BB
Not that nice a place. We last rented 4 years ago and paid $3.5k pm for a very ordinary property in Beaumaris.
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Old Apr 14th 2011, 2:04 pm
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Default Re: Melbourne with $130k per year????

Originally Posted by newy7 View Post
Thanks for this response, seems I am getting some mixed messages here. Where do you think teh tipping point is, $150, 160, 170k etc f we were to pay $3.5 on rent per month?????
The tipping point is what ever you make it really...

You dont need private health, you dont need foxtel you dont need a pool. However, they are nice, but sometimes you do have to take a step back to make the move. After all in the UK you have built up your things over the years and it does cost you to move etc.

I dont have 10 kids OR earn 60K, but we do ok. Would like to do better and certainly would feel very rich on your wages! Its subjective. Some people say they are struggling with 2 new cars in the drive, the kids at private school and they dont want to touch their savings. Others say they are skint when they cant save, others when they cant afford to pay the water rates...

You wont be skint on that wage, however you may not feel as wealthy as you do right now living in the UK because it will cost you to move and you wont know how/ where to shop to recoup some of the money to start with Also paying all of your start up costs (Bond, cars/ rego/ ambulance etc etc will cost a lot all at once!) Hope that makes sense?

Good luck with whatever you decide
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Old Apr 14th 2011, 9:36 pm
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Default Re: Melbourne with $130k per year????

Originally Posted by hevs View Post
The tipping point is what ever you make it really...

You dont need private health, you dont need foxtel you dont need a pool. However, they are nice, but sometimes you do have to take a step back to make the move. After all in the UK you have built up your things over the years and it does cost you to move etc.

I dont have 10 kids OR earn 60K, but we do ok. Would like to do better and certainly would feel very rich on your wages! Its subjective. Some people say they are struggling with 2 new cars in the drive, the kids at private school and they dont want to touch their savings. Others say they are skint when they cant save, others when they cant afford to pay the water rates...

You wont be skint on that wage, however you may not feel as wealthy as you do right now living in the UK because it will cost you to move and you wont know how/ where to shop to recoup some of the money to start with Also paying all of your start up costs (Bond, cars/ rego/ ambulance etc etc will cost a lot all at once!) Hope that makes sense?

Good luck with whatever you decide
Very true
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Old Apr 14th 2011, 11:12 pm
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Default Re: Melbourne with $130k per year????

[QUOTE=elice_in_oz;9304496]
Originally Posted by newy7 View Post
Wow, great link! What an eye opener that someone on $37K has to pay the same rate of tax as someone on $80K, especially when the HCC card cut off etc is only $42K...What you lose with that certainly cant be made up wages due to loss of tax
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Old Apr 14th 2011, 11:39 pm
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Default Re: Melbourne with $130k per year????

Originally Posted by hevs View Post
Wow, great link! What an eye opener that someone on $37K has to pay the same rate of tax as someone on $80K, especially when the HCC card cut off etc is only $42K...What you lose with that certainly cant be made up wages due to loss of tax
Obviously the actually tax is higher for someone on 80k. The tax band 37k-80k doesn't actually mean that a person on 37k is taxed at the same rate as a person on 80k. It's the amount over 37k that is taxed at the same rate. Also there is something called LITO which lowers the tax rate for the 37k person even more. LITO tapers out between 30k and something like 65k to avoid big jumps in tax as people earn more.

So on 37k you pay 3985 tax which is a rate of 10.8% and on 80k you pay 18750 which is 23.4%.

Last edited by Rambi; Apr 14th 2011 at 11:52 pm.
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Old Apr 15th 2011, 12:47 am
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Default Re: Melbourne with $130k per year????

Originally Posted by Rambi View Post
Obviously the actually tax is higher for someone on 80k. The tax band 37k-80k doesn't actually mean that a person on 37k is taxed at the same rate as a person on 80k. It's the amount over 37k that is taxed at the same rate. Also there is something called LITO which lowers the tax rate for the 37k person even more. LITO tapers out between 30k and something like 65k to avoid big jumps in tax as people earn more.

So on 37k you pay 3985 tax which is a rate of 10.8% and on 80k you pay 18750 which is 23.4%.
The other thing that you don't really appreciate is how much you can claim for at tax time. For instance you can offset against tax for computers and internet if you have school-age kids, any charity donations, if you work from home etc, these give us about $3000 back in July which is great as that's the month all the insurance bills hit...

and that's before we start talking about negative gearing which a lot of people here use to lower their tax bill further still.

BB
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Old Apr 15th 2011, 1:06 am
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Default Re: Melbourne with $130k per year????

Originally Posted by Buzzy--Bee View Post
The other thing that you don't really appreciate is how much you can claim for at tax time. For instance you can offset against tax for computers and internet if you have school-age kids, any charity donations, if you work from home etc, these give us about $3000 back in July which is great as that's the month all the insurance bills hit...

and that's before we start talking about negative gearing which a lot of people here use to lower their tax bill further still.

BB
For sure. The Education Tax Refund makes a huge difference for us.
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