Anthony Albanese - How long?

[Gralin]

Also there are a lot of housing below the median price, just saying

 

[Crankyhawk]

Is this satire?

no because of the stupid price of real estate. And not having access to double tax free threshold (that the double income family on the same income gets) though you'd expect this would be offset by the lower cost of child care.

 

[Crankyhawk]

Also there are a lot of housing below the median price, just saying

well, by definition 50% is below the median price, but its where is it (geographically) and is your job portable for it

 

[Ghost Patrol]

No.
Check the Median house price here, work out a loan on a basic car, two kids in school. $190k isn’t a rich person.

Someone on 190k could buy a basic car with two weeks pay.

They don't need a brand new car if they are allegedly struggling.

 

[SaintsSeptember]

No but they're not a poor person either.

And if they need a loan for a basic car they're doing something wrong with that $190k

Come on, the Plaid edition Tesla costs $147K , and that's after you totally extend yourself to buy the best possible house you can buy, its just so darling that you need to bid on it even though its hideously overpriced, besides you need to show up those Joneses.

Don't you know how easy it is to put yourself on the poverty line, and those school shoes aren't the top priority.

So i'd appreciate a tax break now if you don't mind.

 

[Gralin]

well, by definition 50% is below the median price, but its where is it (geographically) and is your job portable for it

And that household is bringing home $2499 a week after tax which is above the median income at the last census

2021 Greater Sydney, Census All persons QuickStats | Australian Bureau of Statistics

www.abs.gov.au

 

[Gralin]

Come on, the Plaid edition Tesla costs $147K , and that's after you totally extend yourself to buy the best possible house you can buy, its just so darling that you need to bid on it even though its hideously overpriced, besides you need to show up those Joneses.

Don't you know how easy it is to put yourself on the poverty line, and those school shoes aren't the top priority.

So i'd appreciate a tax break now if you don't mind.

I personally think anyone who gives Elon money should be shot into space in their Tesla like he did that one time for publicity

 

[Gralin]

Someone on 190k could buy a basic car with two weeks pay.

They don't need a brand new car if they are allegedly struggling.

why do I also feel school fees was code for Private School Fees

 

[Crankyhawk]

And that household is bringing home $2499 a week after tax which is above the median income at the last census

View attachment 1501874

2021 Greater Sydney, Census All persons QuickStats | Australian Bureau of Statistics

www.abs.gov.au

I found median house price 1.5 million

What Sydney’s median house price can buy across the country

amp.smh.com.au

Which means mortgage 1.2m (80%) at 7% interest (allowing 3% for rate rises) is 84k a year in interest alone ie $1600 a week after tax dollars. So that single income family would be in severe mortgage stress; I would say they should be aiming to spend no more than 30% of pre tax income ($57k a year) so my back of envelope math would be house with no more than $1m value and $800k mortgage

 

[Mindtraveller]

This is slight off topic, but maybe the stamp duty change NSW (first home owners get the choice between stamp duty or land tax) was offered to the wrong group.

 

[Ghost Patrol]

I found median house price 1.5 million

What Sydney’s median house price can buy across the country

amp.smh.com.au

Which means mortgage 1.2m (80%) at 7% interest (allowing 3% for rate rises) is 84k a year in interest alone ie $1600 a week after tax dollars. So that single income family would be in severe mortgage stress; I would say they should be aiming to spend no more than 30% of pre tax income ($57k a year) so my back of envelope math would be house with no more than $1m value and $800k mortgage

Well, someone didn't just start earning 190k fresh out of school. Lets say they been earning 150k/year on average for 10 years.

They should have half of that mortgage paid off already.

 

[Gough]

Well, someone didn't just start earning 190k fresh out of school. Lets say they been earning 150k/year on average for 10 years.

They should have half of that mortgage paid off already.

Don't you remember Croweater? 100k a year straight out of uni.

 

[Gralin]

I found median house price 1.5 million

What Sydney’s median house price can buy across the country

amp.smh.com.au

Which means mortgage 1.2m (80%) at 7% interest (allowing 3% for rate rises) is 84k a year in interest alone ie $1600 a week after tax dollars. So that single income family would be in severe mortgage stress; I would say they should be aiming to spend no more than 30% of pre tax income ($57k a year) so my back of envelope math would be house with no more than $1m value and $800k mortgage

The 2499 was after tax. I'm not arguing that our housing market isn't ****ed Im saying $190k is not poor

 

[Gralin]

Don't you remember Croweater? 100k a year straight out of uni.

Washing dishes too the lucky bastard

 

[HairyO]

No.
Check the Median house price here, work out a loan on a basic car, two kids in school. $190k isn’t a rich person.

Ridiculous.

Please show the breakdown of spending only on basics which swallow up the bulk of $190k per year.

Marginal tax is about $55k of that. Where is the rest going ?

 

[HairyO]

why do I also feel school fees was code for Private School Fees

Heaps of average income people send their 2 kids to private school.

Only $40k per year to get the same education you get for free in a decent suburb.

 

[Nuggs Bunny]

While anybody earning $150k and up is undeniably on a decent wicket, you're still considerably closer to the wealth and income of the very poor than you are to being truly rich hence it is understandable why many in the upper middle class view themselves as being worse off than what they actually are. Regardless, nobody on that money was struggling to get by before the tax cut proposal so to suggest it is necessary to help combat cost of living is a silly argument particularly as lower income brackets stand to receive far less relief.

 

[HairyO]

While anybody earning $150k and up is undeniably on a decent wicket, you're still considerably closer to the wealth and income of the very poor than you are to being truly rich hence it is understandable why many in the upper middle class view themselves as being worse off than what they actually are. Regardless, nobody on that money was struggling to get by before the tax cut proposal so to suggest it is necessary to help combat cost of living is a silly argument particularly as lower income brackets stand to receive far less relief.

Being jealous of people on more money seems like a legit reason to get a tax cut.

A friend of mine earns about 10 times a year what I earn. I should be paying zero tax.

 

[Jello_B]

Ridiculous.

Please show the breakdown of spending only on basics which swallow up the bulk of $190k per year.

Marginal tax is about $55k of that. Where is the rest going ?

Sure, all per month, mortgage is about $5k (and going up), food and cleaning products $1.5k, car $1k, school fees and consumables $2k+, council rates elec water gas $1k, Insurances $0.8k, children clothes + consumables $0.5k, and that doesn’t include tolls, public transport to work everyday, parent clothes and consumables, parking fines , Kayo for footy, couple of beers, replacing appliances, travel to see family once a year (live interstate). No pets (yet) which will cost more per year. Children are young so not yet playing sport which costs again.
A single salary at $190k is earning less than a fuel income family on $85k each, are two parents working at $90k rich?

 

[Jello_B]

No but they're not a poor person either.

And if they need a loan for a basic car they're doing something wrong with that $190k

I agree they are not poor.

 

[Jello_B]

Someone on 190k could buy a basic car with two weeks pay.

They don't need a brand new car if they are allegedly struggling.

Yer they could if they didn’t have any other commitments for those two weeks (which would be a dream). Only have a single car as my partner doesn’t work, but know duel working parents that need two cars on this sort of coin (combined) and it’s double rego, insurance, fuel. Dad drives a beaten up old Lancer (owned outright).

 

[Jello_B]

Well, someone didn't just start earning 190k fresh out of school. Lets say they been earning 150k/year on average for 10 years.

They should have half of that mortgage paid off already.

Unless you accelerate to partner in a big 4 firm within 7 years salary increase is more like this in a white collar profession, all including Super:

$55k
$62k
$70k
$75k
$82k
$90k (hecs could be paid off by now and you may start looking at saving for a house, bout 30 here)
$100k
$108k
$130k (children starting to be talked about)
$136k
$145k
$160k
$165k
$172k (getting towards 40 now, hopefully you can buy a family home)

People don’t normally just roll into $150k for 10years. If anything they may get to $150k (if high performing) at around 34 and then stay there for ever if they can’t promote up from there.

 

[HairyO]

Sure, all per month, mortgage is about $5k (and going up), food and cleaning products $1.5k, car $1k, school fees and consumables $2k+, council rates elec water gas $1k, Insurances $0.8k, children clothes + consumables $0.5k, and that doesn’t include tolls, public transport to work everyday, parent clothes and consumables, parking fines , Kayo for footy, couple of beers, replacing appliances, travel to see family once a year (live interstate). No pets (yet) which will cost more per year. Children are young so not yet playing sport which costs again.
A single salary at $190k is earning less than a fuel income family on $85k each, are two parents working at $90k rich?

Those are ridiculous amounts per month.
$1.5k on food?
$1k on a car?
$1k on rates and utilities?

Average income people are not spending anything like that.

And $2k on school fees? My son's is $1k per year and most of it is voluntary.

My electricity for my 3 bedroom townhouse is under $300 per quarter.

So many of your expenses are choices. If you choose to live a fancy life you dont get to complain about how tough things are. You can easily cut back.

Someone on average money and actually struggling doesnt get that luxury.

 

[Jello_B]

Washing dishes too the lucky bastard

I used to wash dishes 30 hours a week whilst doing full time Uni, good for party life.

 

[Jello_B]

Those are ridiculous amounts per month.
$1.5k on food?
$1k on a car?
$1k on rates and utilities?

Average income people are not spending anything like that.

And $2k on school fees? My son's is $1k per year and most of it is voluntary.

My electricity for my 3 bedroom townhouse is under $300 per quarter.

So many of your expenses are choices. If you choose to live a fancy life you dont get to complain about how tough things are. You can easily cut back.

Someone on average money and actually struggling doesnt get that luxury.

Huh? I never complained about anything. All I said was I think Albo is doing a good job and hope he keeps the Stage 3 tax cuts.
$1.5k on food and all other products for a family of 4 in Sydney is about $400 a week, not exactly dining each night.