Moving to Sydney next week on a 457

digiman

I am flying to Sydney next week on a company sponsored 457 but it is through a payroll agency that has actually got me my visa, pays for flights and pays my wages. I have a few questions:

Say my wages before and tax is $3500/week(superannuation not deducted), what could I expect to receive as take home pay with LAFHA as below? Just wondering as I would like to know what I can budget for when there.

I would be looking at renting in the city and would pay up to around$700/week, what could I expect to get from LAFHA on food and rent? Is there any other things that would give me further tax breaks?

I have being looking at Milsons point, somewhere around world tower either, what other places would be people recommend. I would rather an apartment block with nice views, pool and gym.

Is there much costs with buying a car, seems like they are very expensive compared to Ireland. Are the running costs high, say tax,insurance on a GTI golf?

Would anyone have a rough ratio as to the cost of living in Dublin compared to Sydney?

Is it easy enough to sign up to satellite tv, mobile phone etc when you are on a 457 Visa?

At what stage should I be looking at looking for permanent residency, not sure if I would ever use it but think it would be good to have it as an option in the future anyway.

What are the differences between having a 457 and a PR Visa?

I realise there is a lot of questions but any replies would be very grateful. Thanks

hussey

digiman wrote: »

I am flying to Sydney next week on a company sponsored 457 but it is through a payroll agency that has actually got me my visa, pays for flights and pays my wages. I have a few questions:

Say my wages before and tax is $3500/week(superannuation not deducted), what could I expect to receive as take home pay with LAFHA as below? Just wondering as I would like to know what I can budget for when there.

$3500 per week inc super = 3200per week take home (total wage = wage + 9% superannuation)
you can work out your tax via here
http://www.ato.gov.au/content/downloads/BUS00279683N10050511.pdf

more than $2,500 but less than $3,461, withhold $742 plus 39.50 cents for each $1 of earnings in excess of $2,500

I would be looking at renting in the city and would pay up to around$700/week, what could I expect to get from LAFHA on food and rent? Is there any other things that would give me further tax breaks?
I have being looking at Milsons point, somewhere around world tower either, what other places would be people recommend. I would rather an apartment block with nice views, pool and gym.

Lafha will depend on your company, have a chat with them, I doubt they would be give you a break of 700p/w.
700 is way too much, for inner city 1 bed room you can look at 400-500p/w, surry hills, double bay, paddington, darlinghurst, darling harbour all close to city. Milsons point is a train ride or a 30min walk over the bridge.
If you are looking at 2 bed 700 is about right.
Paddington and surry hills are both great areas with lots of restaurants, cafes and bars etc

Is there much costs with buying a car, seems like they are very expensive compared to Ireland. Are the running costs high, say tax,insurance on a GTI golf?

Depending on the age of the car you need:
A road worthy cert - pink slip - this cost can be anywhere but my 17year 1.4 nissan pulsar car usually costs 2 x $250 services a year to be road worthy
CTP green slip - this is compulsory insurance for all cars - fill out this form to get you a rough idea on companies and prices (mine 265)
http://prices.maa.nsw.gov.au/index.html
You can then add on other insurance too.
again use the companies to generate a quote, but my 3d party fire & theft was $545

Would anyone have a rough ratio as to the cost of living in Dublin compared to Sydney?

Sydney is more expensive, but comparing like for like is difficult esp with the Aussie $ being record high against the euro, but the money you are on, you'll have no bother.
Inner city is pretty pricey for food and drink, but you can get good prices if shop around

Is it easy enough to sign up to satellite tv, mobile phone etc when you are on a 457 Visa?

Yeah easy enough

At what stage should I be looking at looking for permanent residency, not sure if I would ever use it but think it would be good to have it as an option in the future anyway.

What are the differences between having a 457 and a PR Visa?

Lose your job on 457 and you have 30days to get another one or else you are out

digiman

hussey wrote: »

$3500 per week inc super = 3200per week take home (total wage = wage + 9% superannuation)
you can work out your tax via here
http://www.ato.gov.au/content/downloads/BUS00279683N10050511.pdf

On the superannuation is there a time limit where you would have to go home to be able to claim this money back? Is it tax free when you bring it back to Ireland?

Lafha will depend on your company, have a chat with them, I doubt they would be give you a break of 700p/w.
700 is way too much, for inner city 1 bed room you can look at 400-500p/w, surry hills, double bay, paddington, darlinghurst, darling harbour all close to city. Milsons point is a train ride or a 30min walk over the bridge.
If you are looking at 2 bed 700 is about right.
Paddington and surry hills are both great areas with lots of restaurants, cafes and bars etc


Depending on the age of the car you need:
A road worthy cert - pink slip - this cost can be anywhere but my 17year 1.4 nissan pulsar car usually costs 2 x $250 services a year to be road worthy
CTP green slip - this is compulsory insurance for all cars - fill out this form to get you a rough idea on companies and prices (mine 265)
http://prices.maa.nsw.gov.au/index.html
You can then add on other insurance too.
again use the companies to generate a quote, but my 3d party fire & theft was $545


Sydney is more expensive, but comparing like for like is difficult esp with the Aussie $ being record high against the euro, but the money you are on, you'll have no bother.
Inner city is pretty pricey for food and drink, but you can get good prices if shop around



Yeah easy enough


Lose your job on 457 and you have 30days to get another one or else you are out

Are there no other benefits to the PR, I know not having to leave is a pretty big one in fairness!!

Thanks for the response, 2 other questions!!

stevo80

I thought after reading this thread I'd best let you know that entitlement to LAFHA for 457 visa holders will stop on 31st June 2012. After that there will be no entitlement: subject to Wayne Swan passing the legislation which seems like a foregone conclusion.

My salary and rent obviously different but the impact on me is that I will be taking home 10% less after June (and I only pay $295/wk rent) so if you're looking at $700/wk the loss of the LAFHA entitlement may impact your take home earnings more dramatically.

Surprised the agency you're dealing with haven't told you about this as it's pretty big news over here that everyone would be aware of.

universe777

http://www.paycalculator.com.au/

Doesn't factor in LAFHA but a good website to work out take home pay.

jank

Lafha is ending for people on 457 so I would not be so quick to inlcude it in long term income calculations.

On a 457 you are tied with the company. You can move from one to the other alright but they have to agree to sponsor you. Might be ok now when the economy is good in Australia but when Australia enters a recession (which is long over due, so be prepared for this!) companies wont be as willing to sponsor. PR means Permanent! With a capital P! They cant kick you out, you can move cities, jobs, even go to another country for up to 5 years and come back. Move to NZ with full resident rights there. Or just mooch about! It a really big plus to have that PR in your passport.

Also entitled to full Australian Medicare not the watered down one available to Irish people. You can go to Uni at local rates, kids can go to school without having to pay extortionate ex-pat rates. Lots of big pluses there in fairness, thats why in two weeks I'm putting my papers for PR.

By the way, what do you do? IT contracting? Seems like your rate is 700 per day. Id get an ABN and setup a company name. You can offset so much against your tax. Seek out professional help though with this.

Coileach dearg

Also, don't forget the chunk your lovely agency will take out of your pay. Not sure if you've factored that in already. Best of luck anyway.

Don't be put off by this or the LAFHA expiring soon. It's not about the money, it's about quality of life. Keep that in mind.

digiman

jank wrote: »

By the way, what do you do? IT contracting? Seems like your rate is 700 per day. Id get an ABN and setup a company name. You can offset so much against your tax. Seek out professional help though with this.

I am doing contracting alright, I'm not even sure how good that rate is. TBH I only applied for 1 job over there and I ended up getting it. The rate seems ok but the more I look at cost of living the less good it sounds.

Coileach dearg wrote: »

Also, don't forget the chunk your lovely agency will take out of your pay. Not sure if you've factored that in already. Best of luck anyway.

Don't be put off by this or the LAFHA expiring soon. It's not about the money, it's about quality of life. Keep that in mind.

I'm not sure what the agency is taking out, whatever it is it's above my daily rate, so it won't affect my take home pay.

I'm not sure if I can set up my own company or not, ideally that would be the way to go but I actually have no idea on what that would involve at this stage or if it is even possible to do it. I am basically working for one of the major telecoms companies who have an agency that pays me each week. If anyone has any ideas on it I would appreciate the advice.

hussey

You'll be classed as an employee of the agency, which kinda nullifies the whole ABN thing.

I don't think you'll get any real benefit out of it as your visa is with the agency and they pay you rather than a company you set up.

700 is a pretty good rate - they can certainly go higher, but you can prob negotiate with your agency for them to cut their rates after a while

if people can survive on 50k a year you'll be fine on 700p/d.

Mellor

jank wrote: »

By the way, what do you do? IT contracting? Seems like your rate is 700 per day. Id get an ABN and setup a company name. You can offset so much against your tax. Seek out professional help though with this.

I don't think he can do that on a 457. I'll gladly be corrected on this.



Digi, best of luck with the move.
don't stress too much about tax and super. You'll be fine, its a dear city in some regards (rent beign the big one)., but $3500 is plenty. Rent, food, going out etc can only ost so much.

Satelite TV takes seconds. $50-100 a month depending on package.
A bill fone can be set up online, or in store. Easy on a 457.
Again $50-$80 a month is loads here, and could include iphone, insurance etc.

I think a car is less important in Sydney, compared to Dublin as the transport is so much better and the suberbs are more independant.