New higher tax bracket

investing

sunshinetours wrote: »

Hope you have researched Oz well - grass is not always greener

How would you solve the defecit issue?

Did you benefit from the UK education system, school, college, uni before you got your job - just wondered?

Been in the country since 2007 so never really benefited from the UK education system.

I visit my GP maybe twice a year so maybe that'll go towards my NI....

In Australia, the rule of thumb is pretty much doubling what you are getting in the UK. If this is the instance, I would get at least £10k more after tax than what I'm getting or at worst at least 5k

I am not saying that this is a bad country, I love living in the UK but it's just that they are really punishing the middle class and making it really hard to live here.

p.s. the pound is getting weaker too
p.p.s I was educated in New Zealand

sunshinetours

investing wrote: »

Been in the country since 2007 so never really benefited from the UK education system.

I visit my GP maybe twice a year so maybe that'll go towards my NI....

In Australia, the rule of thumb is pretty much doubling what you are getting in the UK. If this is the instance, I would get at least £10k more after tax than what I'm getting or at worst at least 5k

I am not saying that this is a bad country, I love living in the UK but it's just that they are really punishing the middle class and making it really hard to live here.

p.s. the pound is getting weaker too
p.p.s I was educated in New Zealand

The issue you are missing is its not about "your" NI - its a about a state run welfare system that is broken and needs plenty pf bandages at the moment. Everyone needs to contribute towards that and those that can think about new TV's iphones etc as items in their sights can effectively afford to contribute their share

The UK economy is totally different to Australia's and especially NZ where there are only 4 million people. probably a combination of all the good points from each of the welfare states in each country would be a good start!

One point I mentuioned about doing your homework is that exchange rates and such are pretty irrelevant if you are earning in the country you are living. Its about purchasing power in that home currency - Australia is not a cheap place to live

ceeforcat

investing wrote: »

ceeforcat: I love your definition of 'middle income'

In my opinion, circa £45-£50k pa is somewhat middle income, especially in London but according to the taxman, the govt - it's considered high.

Yes - from the information you gave, it appears that I am agreeing with you. I had presumed that you were in in that bracket. Not sure what point you are now making.

investing

sunshinetours wrote: »

The issue you are missing is its not about "your" NI - its a about a state run welfare system that is broken and needs plenty pf bandages at the moment. Everyone needs to contribute towards that and those that can think about new TV's iphones etc as items in their sights can effectively afford to contribute their share

The UK economy is totally different to Australia's and especially NZ where there are only 4 million people. probably a combination of all the good points from each of the welfare states in each country would be a good start!

One point I mentuioned about doing your homework is that exchange rates and such are pretty irrelevant if you are earning in the country you are living. Its about purchasing power in that home currency - Australia is not a cheap place to live

Absolutely agree with you there, during my trip to Australia and NZ - things are not cheap! To be materialistic, a pair of Asics Tiger shoes in Australia would cost in excess of $180, where in the UK it's only £65 tops.

Food is also more expensive... but with the weak pound, one is hoping that my savings in the UK when I one day move back down under.

investing

ceeforcat wrote: »

Yes - from the information you gave, it appears that I am agreeing with you. I had presumed that you were in in that bracket. Not sure what point you are now making.

I am in that bracket but I don't think that £45-50k high... especially not in London.

lazer

sunshinetours wrote: »

The issue you are missing is its not about "your" NI - its a about a state run welfare system that is broken and needs plenty pf bandages at the moment. Everyone needs to contribute towards that and those that can think about new TV's iphones etc as items in their sights can effectively afford to contribute their share

Everyone does need to contribute their share, but not more than their share
With the increase in VAT, increase in NI, new 50% tax bracket (For the very high earners), and the lose of child benefits - the 'weatlhy' have already contributed more than their fair share.
If its the welfare system that is broken - it is the welfare system that needs fixed, not the employment tax system.

ceeforcat

investing wrote: »

I am in that bracket but I don't think that £45-50k high... especially not in London.

Exactly - where did I say it was high? I stated 'middle income being squeezed to death'. i.e. your income bracket. Perplexed!

investing

I don't want to sound like a whining person but I'm sure that cuts could be made to the welfare system (for those claiming nicer houses than myself if they have a big family) rather than taxing the middle income earners more.

I do my very best to save my money and the extra £200-£300 a year could be considered a real treat for me to buy something I like - something I haven't done for a long long time.

investing

ceeforcat wrote: »

Exactly - where did I say it was high? I stated 'middle income being squeezed to death'. i.e. your income bracket. Perplexed!

I would say that the taxman would considered that as within the high end, hence the higher tax.

ceeforcat

ceeforcat: I love your definition of 'middle income'

I'll let it go here - still can't see how you managed to guage that it is my definition or that I defined your income as 'high' when I didn't mention the word but there's more to life .....