[ian5621]

Hello all,

Just a quick question, is the cost of living cheaper eg, mortgages, food etc cheaper in Australia than it is in New Zealand? I'm just a bit confused on reading peoples messages on this forum. Thanks in advance.

Ian

[NZAussieGirl]

Hi Ian5621,

Some things are cheaper in Australia ie. whitegoods, furniture, fuel but most things are on par with NZ. Mortgages are generally higher in Aust. especially if you choose to live in one of the capital cities, but Auckland etc. pretty much match them.

The big difference with NZ and Aus. is that Aus generally has higher wages, therfore more take home money to spend on expenses.

The cost of living is pretty comparable if you live outside of the major cities.

[Carol]

Does anyone know how the tax system works in Aussie?
I'd heard it was a bit of a nightmare tbh

[vitalogy]

Does anyone know how the tax system works in Aussie?
I'd heard it was a bit of a nightmare tbh

No considerable differences to NZ, apart from that you pay less of it in Aus :-)

[Carol]

No considerable differences to NZ, apart from that you pay less of it in Aus :-)


Really?
I'd heard the opposite....

[Nick88]

Really?
I'd heard the opposite....

Aus used to have higher taxes, but Peter Costello spent years cutting tax, while Michael Cullen has been putting them up. Now you are much better off financially in Aus, before and after tax.

[mish&al]

I think even living in Sydney, the cost of living in NZ is significantly more.

Depending of course on where you live.

Some things even out.

Interest rates are more in NZ, we would borrow less, but actually pay more than we pay in oz.

But to buy a nice house in Christchurch in a nice area is remarkably lower than in a nice area in Sydney. I can't compare to other capital cities, as apart from Brisbane, I have only visited them. And brisbane was in 1985, so I would assume a lot has changed since then!

Food used to be a lot dearer in NZ, but I have noticed prices creeping up here too, and our petrol prices are creeping up more too.

Tax rates for oz.

2007-2008

$1 – $6,000
Nil

$6,001 – $30,000
15c for each $1 over $6,000

$30,001 – $75,000
$3,600 plus 30c for each $1 over $30,000

$75,001 – $150,000
$17,100 plus 40c for each $1 over $75,000

$150,001 and over
$47,100 plus 45c for each $1 over $150,000



The above rates do not include the Medicare levy of 1.5% (read What is the Medicare levy? for more information).

But our wages are a lot higher, as someone else said, unless you go rural.:cheers

And in case interested-Aussie Tax office website www.ato.gov.au

[Alan]

Can anyone put down the bandings for NZ as above?

[JandM]

This doesn't want to cut and paste very well from the website, so you may prefer to look over there to see it properly set out. http://www.ird.govt.nz/how-to/taxrates-codes/itaxsalaryandwage-incometaxrates.html


Taxable income Tax rate for every
$1 of taxable income
(excluding ACC earners' levy) Tax rate for every
$1 of taxable income
(including ACC earners' levy * )
up to $38,000
19.5 cents
20.8 cents

$38,001 to $60,000 inclusive
33 cents
34.3 cents

$60,001 and over
39 cents
40.3 cents

No declaration **
45 cents
46.3 cents

Use the Tax on annual income calculator if you want to know the tax rates for previous years.

* The earners' levy rate for the tax year 1 April 2007 to 31 March 2008 is 1.3% ($1.30 per $100)
** Employers are legally required to use the no-declaration rate when an employee does not fully complete the Tax code declaration (IR330). A completed form must include name, IRD number and tax code. The form must also be signed.

[mish&al]

Housing affordability in Australia:

The current quarterly median house price for Sydney is $538,000, according to the REIA

Bear in mind this will not get you much within the radius of the city suburbs, more on the outskirts, which can be a lot of travelling. If you are in need of public transport, the reliablity decreases once one reaches the out skirts of the city.

You may get an apartment, but only a pokey 2 bedder or less.


The current year to date median house price for Melbourne is $431,000.


The current median house price for Brisbane is $425,000.




Link-www.smartcompany.com.au

Most of these would not be near any city centres.

[Super_BQ]

Perhaps we should be looking at recent statistics on why so many NZ residents have flocked over to Australia this past year.

http://www.stuff.co.nz/4409970a6009.html

http://www.stuff.co.nz/4409970a6009.html

http://www.stuff.co.nz/4386918a13.html

If you ask me, the difference is real. REAL enough that the cost of living in Australia isn't really comparable to NZ.

BQ

[mish&al]

I agree. But it has been going on for decades, as per a recent thread started. My hubby's family came over in 1980 for work reasons.

We do have better wages in the cities, but we need it for our half a mill houses hours from the city..