Opinion

Old Aug 29th 2002, 11:46 am
  #1  
Just Joined
Thread Starter
 
Joined: Aug 2002
Location: UK for now
Posts: 22
Dannyboy is an unknown quantity at this point
Default Opinion

Hey guys - I'm new to this forum and really benefiting from everyone's views already. I'm expecting to move to Sydney in a couple of months, (PB, I'm gonna do it even if you tell me it's a bad idea!) Here's a question on which you all may have an opinion: How many $A will my family need to earn in Sydney to equate to £70k per year in the London suburbs currently? I'm guessing around $120k?
Dannyboy is offline  
Old Aug 29th 2002, 12:48 pm
  #2  
Forum Regular
 
Joined: Jul 2002
Location: brisbane
Posts: 172
susmac is an unknown quantity at this point
Default Re: Opinion

Originally posted by Dannyboy:
Hey guys - I'm new to this forum and really benefiting from everyone's views already. I'm expecting to move to Sydney in a couple of months, (PB, I'm gonna do it even if you tell me it's a bad idea!) Here's a question on which you all may have an opinion: How many $A will my family need to earn in Sydney to equate to £70k per year in the London suburbs currently? I'm guessing around $120k?
Hi
Alan Colletts site www.gomatilda.com has a cost of living calculator that should help
Susan
susmac is offline  
Old Aug 29th 2002, 12:57 pm
  #3  
Just Joined
Thread Starter
 
Joined: Aug 2002
Location: UK for now
Posts: 22
Dannyboy is an unknown quantity at this point
Default Re: Opinion

Thanks Susan. I've had a look at that, it says that the cost of living is about three quarters of that in UK. Is that your experience or are you an un-travelled pom like me?

------------------
Originally posted by susmac:

Hi
Alan Colletts site www.gomatilda.com has a cost of living calculator that should help
Susan
Dannyboy is offline  
Old Aug 29th 2002, 1:10 pm
  #4  
Forum Regular
 
Joined: Jul 2002
Location: brisbane
Posts: 172
susmac is an unknown quantity at this point
Default Re: Opinion

Originally posted by Dannyboy:
Thanks Susan. I've had a look at that, it says that the cost of living is about three quarters of that in UK. Is that your experience or are you an un-travelled pom like me?

------------------
Hi Dannyboy
I"m actually a much travelled Scot! I haven't lived in the UK since 1985 but I go back frequently,I don't know about Sydney but Brisbane where we're going and where my in-laws are certainly has a much lower cost of living t . All of my husbands family including his parents who went when they retired enjoy a standard of living they couldn't have dreamt of in the UK
Susan
susmac is offline  
Old Aug 29th 2002, 2:51 pm
  #5  
BE Enthusiast
 
Joined: Aug 2002
Location: An expat Aussie trying to understand why anyone wants to move to Oz.
Posts: 485
Devlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of light
Default Re: Opinion

Originally posted by Dannyboy:
Hey guys - I'm new to this forum and really benefiting from everyone's views already. I'm expecting to move to Sydney in a couple of months, (PB, I'm gonna do it even if you tell me it's a bad idea!) Here's a question on which you all may have an opinion: How many $A will my family need to earn in Sydney to equate to £70k per year in the London suburbs currently? I'm guessing around $120k?
I would say closer to $150k-180k in Sydney the reality is that with the higher income tax and cost of living in Sydney that exchange rate advantage had rapidly deteriated in the last few years.
Devlin is offline  
Old Aug 29th 2002, 2:59 pm
  #6  
Just Joined
Thread Starter
 
Joined: Aug 2002
Location: UK for now
Posts: 22
Dannyboy is an unknown quantity at this point
Default Re: Opinion

Originally posted by Devlin:


I would say closer to $150k-180k in Sydney the reality is that with the higher income tax and cost of living in Sydney that exchange rate advantage had rapidly deteriated in the last few years.
------

Thanks Devlin, I need to make sure that I don't get stitched up - I'm being told that I'll have a job offer that will ensure a similar standard of living, which makes me think that I'll be told how cheap Sydney is to UK. I know many things are cheaper, but the stuff we spend most of our money on (housing & cars) seems to be pretty similar. And as you say the taxes are higher in Oz too - 40% on every doller earned or something?
Dannyboy is offline  
Old Aug 29th 2002, 6:52 pm
  #7  
BE Enthusiast
 
Joined: Aug 2002
Location: An expat Aussie trying to understand why anyone wants to move to Oz.
Posts: 485
Devlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of light
Default Re: Opinion

Originally posted by Dannyboy:

------

Thanks Devlin, I need to make sure that I don't get stitched up - I'm being told that I'll have a job offer that will ensure a similar standard of living, which makes me think that I'll be told how cheap Sydney is to UK. I know many things are cheaper, but the stuff we spend most of our money on (housing & cars) seems to be pretty similar. And as you say the taxes are higher in Oz too - 40% on every doller earned or something?
These are the current tax brackets in Australia and note they are NOT indexed each year so due to inflation, in real terms you are paying more each year.

$0 - $6000 .............. tax free
$6001 - $20000 ....... 17c for each $ over $6000
$20001 - $50000..... $2380 plus 30c for each $ over $20000
$50001 - $60000..... $11380 plus 42c for each $ over $50000
$60001 and over .... $15580 plus 47c for each $ over $60000

Above about $13000 is a Medicare levy of 1.5 cents of all taxable income.

Single taxpayers with taxable income over $50,000 and families with taxable income over $100,000 are required to pay the Medicare surcharge of 1% of taxable income if they do not have approved private Hospital Insurance. This essentially takes your medicare payment up to 2.5% of all taxable income which means every $ earned over 60k is taxed at 48.5%

The cost of living IS cheaper in Australia (even Sydney) than it is in London and the South-East, however don't be taken in by what employers say. When I was working in Melbourne, the company I worked for brought an English guy over from the London office permanently, he was on £50k in London and they only gave him AUD$60k, he has regretted the move ever since. He only came because he was told he'd get the same comparitive salary in Melbourne. From what I have seen I think you'd need to earn $90k in Melbourne to have the same standard of living as £50k in London.
Devlin is offline  
Old Aug 29th 2002, 6:56 pm
  #8  
BE Enthusiast
 
Joined: Aug 2002
Location: An expat Aussie trying to understand why anyone wants to move to Oz.
Posts: 485
Devlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of lightDevlin is a glorious beacon of light
Default Re: Opinion

Also out of curiosity I have been comparing supermarket prices here in London with the supermarkets I used to shop at in Melbourne and have been staggered to find that over half the items I checked were actually cheaper in London on an exchange rate basis. e.g. equivalent loaf of bread is 60p in London and $2.40 in Melbourne! I think the introduction of the GST has a lot to do with this, although bread would be exempt it definitely accelerates inflation across the board.
Devlin is offline  
Old Aug 29th 2002, 7:12 pm
  #9  
BE Enthusiast
 
ywoods's Avatar
 
Joined: May 2002
Location: London
Posts: 603
ywoods is an unknown quantity at this point
Default Re: Opinion

Devlin..

Yes that is the one thing I am going to miss about the UK. I also live in London til 14th Sept and moving to Melbourne. I have heard from my delightful hubby that they dont have the buy one get 100 free offers like we do here, which does reduce a shopping bill be in on the day (non stock items in the house) or over a period of time (for things like washing powder and such likes)

I know they have offers in Aus, but from what I can ascertain, the UK is pretty much a consumers paradise when it comes to shopping! PLEASE NOTE PRETTY MUCH !!!!

But I am sure I will get used to it, cant be anywhere near as bad as Munich.. leaves you in tears of frustration and also very much out of pocket

Yvonne

16 days til we leave, 18 til we arrive. WATCH OUT MELBOURNE

Originally posted by Devlin:
Also out of curiosity I have been comparing supermarket prices here in London with the supermarkets I used to shop at in Melbourne and have been staggered to find that over half the items I checked were actually cheaper in London on an exchange rate basis. e.g. equivalent loaf of bread is 60p in London and $2.40 in Melbourne! I think the introduction of the GST has a lot to do with this, although bread would be exempt it definitely accelerates inflation across the board.
ywoods is offline  
Old Aug 29th 2002, 7:17 pm
  #10  
BE Enthusiast
 
ywoods's Avatar
 
Joined: May 2002
Location: London
Posts: 603
ywoods is an unknown quantity at this point
Default Re: Opinion

The one thing that people seem to forget, is that tax on earnings is on a sliding scale. Scaring people in to thinking they are going to pay 40% tax on their earnings is quite funny... sorry.. but I used to be one of those people, then I became a sad bookkeeper and found out differently!

I am glad you posted those figures, I was not aware of the brackets and percentages. Seems like Aus does pay more tax though

Ah well

Yvonne

16 days til we leave, 18 til we arrive. WATCH OUT MELBOURNE



Originally posted by Devlin:


These are the current tax brackets in Australia and note they are NOT indexed each year so due to inflation, in real terms you are paying more each year.

$0 - $6000 .............. tax free
$6001 - $20000 ....... 17c for each $ over $6000
$20001 - $50000..... $2380 plus 30c for each $ over $20000
$50001 - $60000..... $11380 plus 42c for each $ over $50000
$60001 and over .... $15580 plus 47c for each $ over $60000

Above about $13000 is a Medicare levy of 1.5 cents of all taxable income.

Single taxpayers with taxable income over $50,000 and families with taxable income over $100,000 are required to pay the Medicare surcharge of 1% of taxable income if they do not have approved private Hospital Insurance. This essentially takes your medicare payment up to 2.5% of all taxable income which means every $ earned over 60k is taxed at 48.5%

The cost of living IS cheaper in Australia (even Sydney) than it is in London and the South-East, however don't be taken in by what employers say. When I was working in Melbourne, the company I worked for brought an English guy over from the London office permanently, he was on £50k in London and they only gave him AUD$60k, he has regretted the move ever since. He only came because he was told he'd get the same comparitive salary in Melbourne. From what I have seen I think you'd need to earn $90k in Melbourne to have the same standard of living as £50k in London.
ywoods is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us Archive Advertising Cookie Policy Privacy Statement Terms of Service

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.