Learning curves, contacts established, and overall personal development are important factors when we consider taking on a job, but for practical reasons, we are also concerned with salary, working hours, and taxes. Let’s take a close look at the salary, working hours, and tax file number for working in Australia. (Cost of Living in Australia)
There’s a federal minimum wage in Australia, which in 2004 was $467.40 per week (the unions are lobbying for it to be raised to $494), but most job sectors are bound by ‘award’ wages, which are set for different industries, professions and trades through a unique system, decided at federal or state level by pay agreements between unions and employers.
Government surveys of average weekly earnings are published regularly for a wide range of trades and professions, both nationally and for individual states and cities. In 2004, the average weekly wage for adults in full-time employment was around $960 ($1,006 with overtime) and $698 ($714.50 with overtime) for women. A third of employees earn less than $450 a week (many migrants from non-English speaking countries earn below $350 a week), while around 10 per cent earn over $1,200 a week.
Graduates can expect to start on annual salaries of around $36,000. At the other end of the scale, managing directors earn between $350,000 and $600,000 a year in Sydney compared with $200,000 to $400,000 in Melbourne and $140,000 to $225,000 in Perth. Executive salaries in Australia are fast catching up with the rest of the world, and expatriate American bosses of top Australian companies earn $millions a year (including $tens of millions in bonuses in the form of share incentives/options and performance-related bonuses).
Top Grad Salaries in Australia
At $60,000, starting salaries for dentists are the highest in Australia. The latest report from Graduate Careers Australia, which lists median annual starting pay for various fields of study, says graduates in medicine and optometry rank next, at $50,000. The median salary for bachelor degree graduates is $38,000. It has gone up marginally, by $1000, from the previous report. (Australian Skills in Demand)
Other areas of study (median annual salary in $’000):
Engineering ……………….41
Education …………………40
Mathematics ……………… 40
Law ………………………39.5
Earth Sciences …………….39
Computer Science …………..38
Paramedical Studies ………..38
Social Work ……………….37.4
Psychology ………………..38
Physical Science …………..37
Biological Sciences ………..36
Veterinary Science …………36
Accounting ………………..35
Economics, Business ………..35
Humanities ………………..35
Agricultural Science ……….35
Architecture & Building …….34.5
Social Sciences ……………34
Art & Design ………………32
Working Hours
Working hours in Australia vary according to your employer, your position and the type of industry in which you’re employed. A national 38-hour working week was introduced in 1981, since reduced to 37 hours. However, many people work longer hours, particularly employees in factories, who often work ten or more hours’ overtime per week. (A survey in 2003 showed that almost a third of full-time employees work more than 48 hours per week.) A standard working day (without overtime) for a blue-collar worker is from 7 or 8am to 3.30 or 4.30pm, while working hours in most offices and shops are from 8.30 or 9.30am until 4.30 or 5.30pm, with an hour’s break for lunch.
Tax File Number
Your tax file number (TFN), consisting of nine digits, is probably the most important number you receive in Australia. Without one, you’re taxed at the maximum rate (47 per cent) on all your wages (it’s that important!). You also need a TFN to claim unemployment and sickness benefits, to make any investment and to enrol in a fee-free course of higher education. It’s required when completing your annual income tax return and when you start work or change jobs (there are both personal and business tax file numbers).
You can obtain an application form for a TFN from your local Australian Tax Office (ATO). You must produce identification, such as your birth certificate, driving licence or passport with a valid visa, and should receive your TFN around two weeks after making an application. The ATO publishes a brochure, Applying for Your Tax File Number, which explains the application procedure.
Australia’s salary and working hours are fair and may be considered to be very attractive indeed. Be sure to receive your TFN, as the last thing you want is to be taxed at the maximum rate of 47 per cent without it!
Source: Justlanded, Aa-education
Australia Jobs
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Salary, Working Hours and Tax File Number in Australia