[Gilly1973]

Hi, I have read the forums about salaries and cost of living etc. I have a few questions that might appear daft, but gonna ask them anyway.

I am looking to move out in April as a police officer following the recent UK NZ police recruitment.

The salary is given as a total renumeration package and includes superannuation contributions etc. I will be earning $60K NZD which on the face off it appears ok. I believe that I will be paying the higher rate of tax as the threshold is 60k NZD?

I am just wondering how this compares to the salaries others have quoted on here as the actual take home pay is in the region of 1400NZD a fortnight. I am more than likely being posted to the Hamilton area.

I am moving with my wife and young son and have some savings but not a lot and will be the only earner until my wife hopefully finds a job.

I am worried that I will not be able to survive, as I have tried all the calculators etc and cannot get the figures to work out.

Any help and advice appreciated.

Gilly

[Trigirl]

you seem to be making a bit of a mistake with the tax calculation. tax works in bands. you pay lower rate on your first $38k, then the middle rate on your next $22k. you only pay higher rate on anything *over* $60k. as you are earning exactly $60k you won't pay higher rate on anything.

by my reckoning you would therefore pay $14,670 a year in tax and $780 in ACC giving a take home pay of about $1700 a fortnight.

[Trigirl]

in terms of whether thats enough to live on - i really can't help. it so depends on how much savings you are bringing out as a deposit for a house and therefore how much your mortgage will be as well as what sort of lifestyle you are used to.

i recommend avalons money thread - look under the money matters section.

[Gilly1973]

Thanks for the reply. I think I have worked out the way they are selling the renumeration package. I think the salary is around 54k NZD and then the employers superannuation of approx 6k NZD. They have stated the take home pay is approx 1400NZD fortnightly. I believe I may be eligable for some kind of family assistance due to having one child and he will also have permanent residency.

I will be bringing approx 200k NZD with me in savings for use as deposit and getting settled.

Once again many thanks

[leachio]

Mandy,

silly but what is ACC, Gilly and my OH are heading out together.

Thanx Amanda x

[Trigirl]

even $54k would give you weekly take home of well over $1500 before any family assistance. for take home pay of $1400 you would only be earning $48k - may be worth checking whats going on there? are they definitely paying $54k?

with 1 young child and a salary of $54k you'd be entitled to about $50 a week family assistance (assuming you get permanent residency and not just a work visa)

leachio - acc is the accident compensation commission. all employees pay 1.3% of their total income towards it. www.acc.co.nz

[Gilly1973]

Will check, there may be insurance and other association costs coming off the salary at source. All the family will be getting permanent residency so shouldn't be a problem getting the family assistance and going to sort out IRD numbers as soon as possible.

Once again thanks for the assistance