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salary question!!

salary question!!

Old Feb 13th 2007, 9:41 pm
  #1  
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Default salary question!!

Hi guys.

On a salary of A$120,000 a year, what kind of tax would I be paying. We're just trying to figure out if :

1. This is a good rate of pay for a managerial position working in transport
2. If we would have enough net pay to pay a mortgage/school/food etc

We are looking at either Brisbane, Sydney or Adelaide where the company my husband works for has offices.

Many thanks your comments which are always much appreciated.

Cheryl
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Old Feb 13th 2007, 10:17 pm
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Default Re: salary question!!

Originally Posted by StevenChez View Post
Hi guys.

On a salary of A$120,000 a year, what kind of tax would I be paying. We're just trying to figure out if :

1. This is a good rate of pay for a managerial position working in transport
2. If we would have enough net pay to pay a mortgage/school/food etc

We are looking at either Brisbane, Sydney or Adelaide where the company my husband works for has offices.

Many thanks your comments which are always much appreciated.

Cheryl
In answer to question 2.......................Are you avin a larf?
A simple Google search suggests the national average wage in Oz is anywhere between $49,000 and $56,000 depending upon the State. That means on your income - which is double the national average - speaks for itself ........surely you will be loaded???

I myself will be one of the modest earners of just around $49,000 so I figure if the national average is the same as my earnings, then I will be fine.

In the UK, the national average wage is £23,244 and I don't earn anywhere near that and Im managing fine.

Dont know much about tax, but I expect you will pay a lot!
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Old Feb 13th 2007, 10:26 pm
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Default Re: salary question!!

Originally Posted by StevenChez View Post
Hi guys.

On a salary of A$120,000 a year, what kind of tax would I be paying. We're just trying to figure out if :

1. This is a good rate of pay for a managerial position working in transport
2. If we would have enough net pay to pay a mortgage/school/food etc

We are looking at either Brisbane, Sydney or Adelaide where the company my husband works for has offices.

Many thanks your comments which are always much appreciated.

Cheryl

Thats gross $2307 a week with $727 tax so therefore $1580 a week net.

Doesnt allow for any tax deductions, medicare levy, spouse dependant rebates etc.
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Old Feb 13th 2007, 10:26 pm
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Default Re: salary question!!

Money would go alot further if you weren't in sydney.

Income tax rates etc are here

http://ato.gov.au/individuals/conten...u=5053&mfp=001
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Old Feb 13th 2007, 10:42 pm
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Default Re: salary question!!

Thanks to each of you for your replies.

I wonder how many hours we've all spent searching for and researching our move. It's wonderful that people are ready to give their help.

Thanks again.

Cheryl
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Old Feb 13th 2007, 10:47 pm
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Default Re: salary question!!

Originally Posted by StevenChez View Post
Hi guys.

On a salary of A$120,000 a year, what kind of tax would I be paying. We're just trying to figure out if :

1. This is a good rate of pay for a managerial position working in transport
2. If we would have enough net pay to pay a mortgage/school/food etc

We are looking at either Brisbane, Sydney or Adelaide where the company my husband works for has offices.

Many thanks your comments which are always much appreciated.

Cheryl
sounds about right in Sydney for managerial role, see the ATO link for some tax calculators
have a look at something like seek.com.au for similar positions, you may find some give a ball park figure
whether it's enough depends on your individual requirements, mortgage, lifestyle, location etc.
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