Sunshine7

I'm sure this has been done many times before, and if so then sorry.

If we were to earn $150k per year, plus super, any idea what the monthly take home pay would be? (just so I can compare it to what we have in Britain). That would be just one salary, not both salaries combined - not sure if that makes any difference.

Would that be enough for a comfortable lifestyle in Perth, or enough to buy a house, assuming we don't have a huge deposit to put down? I know everyone has different ideas of a comfortable lifestyle, but we have 2 kids, don't smoke, drink (much) or gamble. Just hoping we could get by on one wage for a few years until youngest is at school.

busterboy

One salary should bring in around $9k per month after tax. Super on top.

Sunshine7

Sorry to be so thick, but when you say "super on top" do you mean that we still have to pay super out of that $9k per month?

The Bloke

Alot of families HAVE to live on sometimes less than half of that (combined). What really pisses me off, is people claim they can't live on a salary of that scale, or ask questions like yours, especially when the majority of other families are finding it difficult.

The Bloke

The super is extra payment to your salary, as per your original post. This will effectively increase your salary.

Sunshine7

That was a bit harsh and uncalled for! I simply asked a genuine question as I am pretty new to this forum and all the Australia stuff. I have absolutely no idea what kind of salary is needed in Perth, just know that house prices seem to be really expensive compared to what we are used to.

I asked the question because I am trying to decide whether we are doing the right thing or if we are about to make a huge mistake. It will cost us almost all our savings just to go through the visa process and for shipping, flights etc so it wouldn't be too easy for us to come back if things didn't work out.

I had no idea it was a huge salary, and I'm so sorry if I have annoyed you, it wasn't intended.

Sheesh, I'm sure I read on here that this was a friendly place to post.

Russ_Sarah

dont worry...its not such a huge salary in Turkish Lira!!

confuzzled

completely agreed!!

Rabc

What pisses me off it people that instantly slag people off that get more than they do. Simple genuine question - not an assault on the poor downtrodden working classes.

O/P

That salary will be enough to survive, If you take the cost of living as being very roughly the same give or take a bit, could you survive on 45K in the UK? I certainly could. I now earn $77K and can get by comfortably in Queensland.

Sunshine7

Oh what have I started?

My concerns were that it looks like our mortgage repayments for a modest $300K house would be around $2700 per month, which is a lot more that we pay now. That's based on the current interest sates of 8+ %. It just seems a lot on any salary, that's all.

E3only

I am not sure if you want to know how it works.

Mostly salaries are quoted at BASE which means you get that paid + 9% super that the company pays into your superann account....

So when they say 150k+ super that means 9% on top of that 150k will be paid into a stand alone account that you can have access to after retirement> there are ways of taking money out of that before retirement but lets leave that aside.

Another thing to remember is, there is a threshhold (I believe around 125k base salary) above which you can take that 9% in cash home......anyone else can correct me here if i am wrong.. so basically instead of them having to pay 9% of 150k into super you have an option of having 9% of 130k into super and 9% of the remaining 20k as take home of course taxed......

Also, if you have a family (which you do) and all that you may be able to claim some deductions and rebates. Also if you are living away from home you can claim rent as tax deductible but htere are conditions to it...

If you want to, can consult a qualified accountant so you know what exactly is happening...at the miimum you will get that 9k after tax (As someone already mentioned so I assume thats correct)

Regards to Perth, property is expensive to buy or rent and thats to do with the Mining boom. Depends how you are as a person - if you are outgoing and like to meet people and generally want to be around lots of people then Perth can be a bit of a shock....I am from Sydney but when I compare Perth to Sydney then there are differences that are obvious...I like sydney more as I like busy life but people love Perth for the opposite reason...

Just an idea - you may end up paying ~400k per week rent in Perth with ease (~30-35 mins away from city).......

Hope that helps....

http://www.xinc.net.au/calculators/income_tax.html
www.realestate.com.au
www.domain.com.au

Sunshine7

Thank you so much for taking the time to explain it to me, I really do appreciate it.

tictac

To be honest, I personally think you'll be looking at paying considerably more than $300k for a decent house in Perth.

I'm afraid to say, that without a significant deposit , you'll be having to put a considerable amount of your income towards your mortgage. It's pricey here at the moment

If I can offer any advice, it would be to make sure you do your sums before you finalise your decision on whether to emigrate or not

E3only

No worries....more than welcome to help...its all about helping each other out on this forum

Sunshine7

Thanks, that's what I thought. I can't really understand why people shot me down in flames for my first post because I just can't see how we could afford to pay this kind of mortgage (and of course interest rates could rise) if our take home pay was, say, $4k per month. Bearing in mind that we would also like to save a bit for flights if we did need to come back to the UK quickly if for example family needed us or somebody took ill.

From earlier replies it seemed like we would be living like millionaires but as I suspected, that is not the case at all. Perhaps some others have had large deposits to put down on property which of course would reduce the monthly repayments considerable.