dmjg Posted February 9, 2016 Share Posted February 9, 2016 These are our numbers for 2016. We have a surburban block on the mornington peninsula, I hope it helps, Any questions, please ask, Dan 2016accounts.xls 2016accounts.xls Quote Link to comment Share on other sites More sharing options...
dxboz Posted February 9, 2016 Share Posted February 9, 2016 Wow what a comprehensive spreadsheet - well done you Quote Link to comment Share on other sites More sharing options...
stevej Posted February 9, 2016 Share Posted February 9, 2016 That's fantastic. Thanks. Can I ask what the church envelope part is? cheers steve Quote Link to comment Share on other sites More sharing options...
dmjg Posted February 9, 2016 Author Share Posted February 9, 2016 That's fantastic. Thanks. Can I ask what the church envelope part is? cheers steve Money to local church to provide programs for those in need Quote Link to comment Share on other sites More sharing options...
stevej Posted February 9, 2016 Share Posted February 9, 2016 Money to local church to provide programs for those in need Ah ok thank you. I didn't know if it was a kind of council/parish bill. Thanks again. Quote Link to comment Share on other sites More sharing options...
CNC FABS Posted February 9, 2016 Share Posted February 9, 2016 I'd be cutting out the date nights and kids gifts. Life's not cheap is it. How important is it to have private health cover ? We arrive Mount Martha 9th April !! Counting the days Quote Link to comment Share on other sites More sharing options...
dmjg Posted February 9, 2016 Author Share Posted February 9, 2016 I'd be cutting out the date nights and kids gifts. Life's not cheap is it.How important is it to have private health cover ? We arrive Mount Martha 9th April !! Counting the days We work hard, why shouldnt we spend some money on ourself once a month to go out together? Kids gifts include birthdays for themselves, Christmas presents as well as party costs. They are only young once. Private health cover is the one i keep looking at whilst shaking my head. But one or other of us has had an operation every second year, each time there has been no waiting list, and we use lots of extras. Its like all insurance, we may tut at the cost, but its a nice warm feeling when our arses are covered. Mt Martha will required a bigger mortgage........... Quote Link to comment Share on other sites More sharing options...
CNC FABS Posted February 9, 2016 Share Posted February 9, 2016 (edited) The first 2 comments where meant T in C..:smile: We understand property prices in the older part of Mount Martha we like. Thankfully selling a business and paying mortgage for 11 years, means our hard work gives us a good start down under. Edited February 9, 2016 by CNC FABS Quote Link to comment Share on other sites More sharing options...
dmjg Posted February 10, 2016 Author Share Posted February 10, 2016 The first 2 comments where meant T in C..:smile: . I replied before 7am on a day i teach three year 8 classes followed by three year 10 classes. Unfortunately i see no humour in anything on a wednesday morning :twitcy: But as i have a nice big glass of 10yo Ardbeg in hand, all is now rosy...... Quote Link to comment Share on other sites More sharing options...
TravellingKatherine Posted February 10, 2016 Share Posted February 10, 2016 I have been trying to get an idea of what the cost of living was in Melbourne and your spreadsheet is utterly fantastic. Thank you so much for sharing. I see the nurse in your house only works 20hrs. I'm assuming I could adjust the hourly rate to work out a rough full time rate? Quote Link to comment Share on other sites More sharing options...
CNC FABS Posted February 10, 2016 Share Posted February 10, 2016 Well thanks for the spreadsheet. We will have a max $300k mortgage. Good to know the little things do add up. Quote Link to comment Share on other sites More sharing options...
dmjg Posted February 10, 2016 Author Share Posted February 10, 2016 Kids in care are the expensive thing, $50 per day, per kid, out of pocket for full daycare. Once they get to school, its like another payrise. Anyone on a basic wage works for 4 hours to cover one kid, its easy to see why women with two dont bother going back to work, they would be working for nothing. Quote Link to comment Share on other sites More sharing options...
dmjg Posted February 10, 2016 Author Share Posted February 10, 2016 (edited) I have been trying to get an idea of what the cost of living was in Melbourne and your spreadsheet is utterly fantastic. Thank you so much for sharing. I see the nurse in your house only works 20hrs. I'm assuming I could adjust the hourly rate to work out a rough full time rate? Hi TK, Its a simple question, but im going to give a complicated answer, The oh works 20 hours per week at a doctors surgery, private practice. She has ten years experience and is on $34.11 per hour. Ive quoted after tax numbers, so, due to tax brackets, you cant just double this to get a full time take home amount. But, roughly, multiply by about 1.75, giving about $2000 per fortnight would be in the ballpark. She also does work at the local hospital, casually. I havent included it on the spreadsheet as it goes into a separate account (in a roundabout way) and only gets used to pay for holidays back to the uk every five years. Hospital rate is about $36 per hour, plus penalties. She will pick up a shift every few weeks on weekends so we dont ned to pay for childcare. Casually she gets 187.5% of her basic wage, double time between six pm and eight am. 300% on public holidays. If she gets a 12 hr icu public holiday weekend shift she can bring home $1000 for that one day.... Then she can salary sacrifice upto 80% of her wage upto $9000 per year into the mortgage, tax free. The other 20% is taxed as normal. As this goes into the mortgage, i funnel the same amount from her other wage into the uk holiday account to keep the numbers balanced. But this $9000 is worth $17000 of work to everyone else not in government healthcare jobs....... If she worked full time as a basic division 1 nurse in the hospital on shifts, sh'ed be bringing in about $100,000 per year before tax. With the best salary sacrifice options of the workforce (except pollies). Thats about $5000 more than me, with better tax reduction opportunities as well to sweeten the deal. Going up the ladder would just increase the pay, and the stress....... Edited February 10, 2016 by dmjg sp Quote Link to comment Share on other sites More sharing options...
CNC FABS Posted February 10, 2016 Share Posted February 10, 2016 Why do I get the feeling, all these tax issues, rebates etc. Are going to giver me a head ache, when I have to deal with them. and I have run limited companies all my life. Quote Link to comment Share on other sites More sharing options...
jas123 Posted February 28, 2016 Share Posted February 28, 2016 Hello everyone! This is my first time post and my family and I are looking forward to our move in the next few months. Me my wife, 2 daughters aged 10 & 5. Fantastic spreadsheet, just the sort of thing I've been looking for. Does anyone know if these are the sort of costs to budget for in say a suburb like Sandhurst? Any helpful information on Sandhurst or adjacent suburbs would also be greatly appreciated:- schools, nightlife, neighbours etc. We will have a joint income of $175,000.00 + super p/a on 457 visas. Will this give us a comfortable living? Thanks and we look forward to your replies Jase. Quote Link to comment Share on other sites More sharing options...
Patphillips47 Posted February 28, 2016 Share Posted February 28, 2016 (edited) There is a downloadable PDF on the ATO site for anyone wanting a calculation of how much tax they would pay Ie multiply hourly rate X hours worked = gross Look up your gross wage on the PDF and take off appropriate tax = net Edited February 28, 2016 by Patphillips47 Quote Link to comment Share on other sites More sharing options...
Amb Posted February 28, 2016 Share Posted February 28, 2016 hi... This is literally my fist ever post in a forum... This spreadsheet is so helpful, thanks. We've just starting looking into the finer details of migrating. Please can you advice what the tax back means/ is for in your income? Is this also for your net earnings? These are our numbers for 2016. We have a surburban block on the mornington peninsula, I hope it helps, Any questions, please ask, Dan Quote Link to comment Share on other sites More sharing options...
dmjg Posted February 28, 2016 Author Share Posted February 28, 2016 hi... This is literally my fist ever post in a forum... This spreadsheet is so helpful, thanks. We've just starting looking into the finer details of migrating. Please can you advice what the tax back means/ is for in your income? Is this also for your net earnings? Each year i go and sit in front of an accountant and hand in our total pay paperwork and tax deductable receipts. They type this into a program, and tell me how much we've been overtaxed from fortnightly pay cheques. That money is then sent back to us by the ATO. Its a significant amount, so ive added it in. Im not too interested in how much i get paid before tax, much more, what is in my account to spend........ Quote Link to comment Share on other sites More sharing options...
Parley Posted February 28, 2016 Share Posted February 28, 2016 I thought you do would your own tax dmjg. Quote Link to comment Share on other sites More sharing options...
dmjg Posted February 29, 2016 Author Share Posted February 29, 2016 I thought you do would your own tax dmjg. I would do, but having had the apartment in the uk, it was easier for them to link in and get exchange rates and advise on deductions, costs and the like. But as we sold the apartment last month, this will be the last year at the accountant. After that, i plan to do it on line myself as it will be a lot simpler. Quote Link to comment Share on other sites More sharing options...
Parley Posted February 29, 2016 Share Posted February 29, 2016 Ah yes, having UK and Australia stuff would complicate things. The first year I negative geared I went to an accountant but really once you know all the applicable deductions and set up spreadsheets etc you can do it yourself easily enough. Quote Link to comment Share on other sites More sharing options...
Paul1Perth Posted February 29, 2016 Share Posted February 29, 2016 I would do, but having had the apartment in the uk, it was easier for them to link in and get exchange rates and advise on deductions, costs and the like. But as we sold the apartment last month, this will be the last year at the accountant. After that, i plan to do it on line myself as it will be a lot simpler. Me and the wife did our own the first couple of years here. We were so scared of doing something wrong it took us ages to work through it. 2nd year here I was away with work a lot and we'd gone through the tax forms, it looked like we were going to owe the taxman. My wife got really bogged down with the forms and went to see a local accountant. He went through the figures and came up with a lot of things we didn't know we could claim for. Turned it round to us getting a rebate of a few hundred. Been going to the same place ever since. Now he has our details in the computer takes about 30 mins for both of us. We always get a rebate. Well worth it. Quote Link to comment Share on other sites More sharing options...
CNC FABS Posted February 29, 2016 Share Posted February 29, 2016 So how much hassle is a ATO annual filing. I have always used an accountant in UK, as ran limited companies and for SA. Although I did the last years sets myself to save money, as fees kept growing. Over time I picked up on the little things to claim. Hate to think how hard it will be to learn all the angles again ? Oh and are the ATO like the IRS ? Kinda know everything about you and love to lock folks up if you dot your 'i's' or cross your 't's' against regulation ? Quote Link to comment Share on other sites More sharing options...
Parley Posted February 29, 2016 Share Posted February 29, 2016 Me and the wife did our own the first couple of years here. We were so scared of doing something wrong it took us ages to work through it. 2nd year here I was away with work a lot and we'd gone through the tax forms, it looked like we were going to owe the taxman. My wife got really bogged down with the forms and went to see a local accountant. He went through the figures and came up with a lot of things we didn't know we could claim for. Turned it round to us getting a rebate of a few hundred. Been going to the same place ever since. Now he has our details in the computer takes about 30 mins for both of us. We always get a rebate. Well worth it. Well it is worth it in the first year I agree. But once you know the deductions that apply to you as a couple you can do it yourself. The deductions are not going to change every year. Quote Link to comment Share on other sites More sharing options...
Paul1Perth Posted March 1, 2016 Share Posted March 1, 2016 Well it is worth it in the first year I agree.But once you know the deductions that apply to you as a couple you can do it yourself. The deductions are not going to change every year. You'd be surprised what subtle changes our accountant knows about parley. There's something a bit different every year. Might be just an adjustment to what you can claim on a minor thing but that's why we let the accountant do it. We can claim the accountant fees in next years tax return anyway. He more than pays for himself and it saves us hours of work. Quote Link to comment Share on other sites More sharing options...
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