Having Kids
- Thread starter Sturty2Hurty
- Start date
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Single income households get absolutely screwed on tax
Gralin
Super Moderator
- Moderator
- #79
that we do
I remember having this discussion with some friends years ago
their combined income pre tax was about the same as mine but post tax they were better off
now they had to work more hours between them than I did, at this point I was single in a unit and they had a house with a big back yard and they couldn't work out how
I'm like tax brackets, tax free threshold, cost of living for one person vs 2 isn't that different
they'd also been together for years pooling their resources and I'd only just recently started catching them on earnings
when my partner and I had a kid they stayed home to look after them because pretty much their entire wage would have gone on child care anyway
but we couldn't claim anything for that, really we were lucky we could afford it, I know people where they went back to work for the small amount they ended up with above childcare costs because money was that tight for them
two kids on childcare is a pretty well paying job just to cover it, I know quite a few where once the second kid came along childcare was just too much and back to single income because they were actually better off losing the income than paying the extra fees
and the cost all the way through to retirement for the person who does that is huge, they miss out on years of income and super (not that I am a fan of super but the system is designed around it now)
Shell
Premium Platinum
I earn 55k a year. How the **** do I pay the same tax rate as someone on 100k+.
Srsly. Go **** yourself
/idk who im saying that to.
Srsly. Go **** yourself
/idk who im saying that to.
- Apr 23, 2016
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You pay less actual tax though, looking at 'just' the rate is a bit of a furphy given at $55k you're paying a little under $9k and at $100k they're paying ~$23k
I do think that lowest tax bracket needs to end higher now though, $45k is a little low to start paying 32.5c on the dollar IMO given how much the cost of essentials like rent and mortgages have climbed.
Shell
Premium Platinum
I know
Shell
Premium Platinum
The scary thing is I really have nothing I can cut back on.
Can't cut back on streaming and internet- I dont have it.
Cant cut back on.. well having a life or going out. I dont do it.
Gym is one thing I could sacrifice, but that is my health so nup not doing that. I'm contracted until mid next year anyway..
I pay little in groceries as it is, I cannot recall the last time I bought meat or anything really expensive. Same deal with seafood. Havent bought it in months.
The only option really is to get a second job and pay more *ing tax. *. off.
Can't cut back on streaming and internet- I dont have it.
Cant cut back on.. well having a life or going out. I dont do it.
Gym is one thing I could sacrifice, but that is my health so nup not doing that. I'm contracted until mid next year anyway..
I pay little in groceries as it is, I cannot recall the last time I bought meat or anything really expensive. Same deal with seafood. Havent bought it in months.
The only option really is to get a second job and pay more *ing tax. *. off.
Engimal v3
Premium Gold
Always thought I'd have multiple kids like my parents (4 kids). My partner only wants one. As things become more and more expensive (and 6 months into a 30 year mortgage), I think she might be right.
Last edited:
- Sep 3, 2019
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Good idea. When you have 2 kids it’s like the oldest one has put on an apprentice arseh*le.
- Apr 23, 2016
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Not sure why you disliked my post tbh.
RE: the bolded, as in tax in general or because you can't claim the tax free threshold on a second job?
I claim gym on my extras coverage each year. As long as a medical professional is happy to sign off and say they recommend a gym regimen to manage/improve a specific health condition (e.g. weight, mental health, old injury) you can get a decent chunk back.
Gralin
Super Moderator
- Moderator
- #89
its really hard to actually claim enough on extras to make them worth having most of the time
we're on a corporate plan through work that is generally better than what is offered retail and it still wasn't worth having extras even with work footing most of the bill
I think we worked out that if we had 2 kids needing braces at the same time that would just barely make it worth having for the years we needed to, but with wait times even then overall you're likely to lose
some people will be in situations where its worth having extras but mostly they are there to fleece customers
honestly don't even know if I'd bother with private hospital cover anymore with all the changes they keep making to the system, I'm just not out of pocket for it so I haven't looking into it for a few years
As somone who has a child about to have dental surgery and then braces.....lets just say my 3 weeks on a greek island next year needs to be cancelled.
Shell
Premium Platinum
I reckon my parents got lucky. Only I needed braces- so thats 1 out of 3 kids.
But yeah I dont envy you at all. Sucks the greek islands is cancelled, thats like my favourite place in the world.
I always get at least my premium back. Maxing out optical, mental health and preventative health is ~$1,200. Six monthly dental checkups and cleans is another $2-300. Then there's always a few hundred dollars for the random stuff - scripts, fillings, new orthotics, physio for injuries etc.
Granted if I didn't have gold-plated extras I'd probably cut all that stuff back dramatically and spend less overall, but I figure overinvesting on health and wellbeing isn't the worst thing in the world
Gralin
Super Moderator
- Moderator
- #93
when we did the sums we had to spend a lot of money to break even on the extras cost, and while there were things like optics and dental with the limits they just weren't enough without going into things we didn't need to be spending on
so for us we were better off dropping the extras and just paying for those things when they come up as overall it was less money spent
but everyone would need to look into their own circumstances to work it out
Is there a private health insurance thread? I'm starting a new job that pays upto 5k of family cover private health. Have no idea how it all works, whats good ect ect
I've never needed it.
I've never needed it.
I am one of 3 boys and 2 of us had braces. When I tell my parents about the cost of braces they just have a little giggle to themselves.
Shell
Premium Platinum
Nothing
Brownlow Medallist
- Jul 30, 2009
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$7-10k
Shell
Premium Platinum
I reckon 4k would have been about the price my mum and dad paid 25 years ago!!!
Far out.
I might ask them that actually, see how much it was back then.
Shell
Premium Platinum
And that's without surgery. I'd hate to see the cost of that blow out if the kid needs surgery first, before the braces.
