Want to plan your living expenses in Australia? We'll help you. There is no “one size fits all” plan for all but it is understood that an individual may need approximately $20,000 each year and an average family needs more than $50,000 a year to get by in Australia.
Going home with 50k AUD per annum isn't that good. However, this obviously also depends on where you live and what kind of lifestyle you (want to) have. Do you want to live life to the max? You probably will need to bring home 150k AUD per annum.
C. Minimum wage
According to the Australian Bureau of Statistics, Australia has a national law requiring a minimum hourly wage of 21.38 AUD (USD 14.21) for part time as well as full-time workers.
Location – With some parts of Australia (namely: the big cities) having significantly higher costs of living than suburban or remote areas, your location is likely the biggest factor in this discussion. Experience – For someone starting out in their career, $60k is a reasonable pay.
From 1 July 2022 you may be eligible for the low income tax offset only, if you earn up to $66,667. Between 2018–19 and 2021–22, you may have been eligible to receive one or both of the: low income tax offset – if you earn up to $66,667. low and middle income tax offset – if you earn up to $126,000.
Approximately 58% of the Australian population is considered to be part of the middle class. What is the average annual income range for the Australian middle class? The average annual income range for the Australian middle class is between AUD 46,000 and AUD 140,000.
The average annual salary in Australia is $68,900 and $35.30 per hour. It is just the average salary for basic workers but skilled and experienced workers also earn around $108,980 annually.
The top 10 per cent of earners in Australia make $122,664 or more, with some of the best paid incomes in the country including miners who rake in $124,550 on average, school principals who take home $130,142 and dentists that are earning $131,773.
The average full time salary in Australia is $70,001 per year or $35.90 per hour. Entry-level positions start at $57,500 per year, while most experienced workers make up to $107,282 per year.
If you make $60,000 a year living in Australia, you will be taxed $11,167. That means that your net pay will be $48,833 per year, or $4,069 per month. Your average tax rate is 18.6% and your marginal tax rate is 34.5%. This marginal tax rate means that your immediate additional income will be taxed at this rate.
There is no “one size fits all” plan for all but it is understood that an individual may need approximately $20,000 each year and an average family needs more than $50,000 a year to get by in Australia.
48.4% of Australians live paycheck to paycheck or save less than 10% of their income. 1 in 3 have missed or made a late payment on a credit product or bill in the last 12 months.
What is a good salary in Australia? A good salary in Australia is $5,000 to $6,000 per month or $60,500 to $72,500 per year. The national average income is $60,500 per annum. If living in major cities like Melbourne and Sydney, expect to earn around $100,000 per year or more depending on your experience.
Annual / Monthly / Weekly / Hourly Converter
If you make $50,000 per year, your hourly salary would be $25.30.
How much income tax do I pay if I make $50,000? If your taxable income is $50,000 a year as an Australian resident for tax purposes, you will be taxed $4,967. Your average tax rate is 9.93% and your marginal tax rate is 32.5%. This does not include any deductions/expenses/offsets/Medicare levy to claim.
If you make $50,000 a year living in Australia, you will be taxed $7,717. That means that your net pay will be $42,283 per year, or $3,524 per month.
Annual / Monthly / Weekly / Hourly Converter
If you make $30 per hour, your Yearly salary would be $59,280.
Annual / Monthly / Weekly / Hourly Converter
If you make $40 per hour, your Yearly salary would be $79,040.
$35 an hour is how much a year? If you make $35 an hour, your yearly salary would be $72,800.
So if you're on $100k or more, congratulations, you're in the top 20% of Aussie income earners. If not, don't worry, you're in the good company of 80% of Aussies.
If your taxable income was $131,501 or higher, then you earned more than 90 per cent of other Australians. If you earned more than $253,066, then you took home more than 99 per cent of taxpayers. About 5 per cent of taxpayers had incomes above $180,000.
The average earnings of the top 20% are 12x the average earnings of the bottom 20% and the wealth of the average household in the top 20% is 93x the average wealth of those in the bottom 20%. The average household gross income is $121,108, however the top 20% of households earn 48% of all income.
Information from the 2021 census, released by the Australian Bureau of Statistics (ABS) today, found that health care, retail, construction and education employed the most people across Australia.
Find out what the average Teacher salary is
The average teacher salary in Australia is $84,937 per year or $43.56 per hour. Entry-level positions start at $74,301 per year, while most experienced workers make up to $117,532 per year.
Base Salary is an employee's full time equivalent annualised salary. It includes salary sacrifice amounts such as pre-tax employee superannuation contributions made via salary sacrifice arrangements.