If you’re a South African thinking about moving to Australia, you’ve undoubtedly heard a lot of conflicting views on the opportunities and expenses of living there. As seasoned immigration advisers at Tri-Nations Migration, our goal in this blog is to give you a fair comparison between Australia and New Zealand while illuminating key aspects that may influence your choice.
How Big is the Wage Gap?
Many claim Australia offers greater income, but the reality is more complicated. The median weekly earnings in Australia and New Zealand, according to recent statistics from the Australian Bureau of Statistics and the Department of Statistics of New Zealand, present a largely comparable picture. Other professions like doctors, teachers, and nurses earn more in Australia’s big cities, while some sectors, like mining, may pay greater salaries. Overall, the wage gap might be smaller than generally thought.
Housing Costs: The Big Conundrum
Housing expenses can be a significant factor for potential immigrants. While some sources assert that Australian housing is less expensive, the truth is more nuanced. Major Australian cities, including Brisbane, Sydney, and Melbourne, have housing costs equivalent to those of Auckland, New Zealand. In addition, whereas New Zealand does not charge stamp duty on home transactions, Australia does. The housing markets in both nations have seen ups and downs, with house prices falling recently.
Living Expenses: Dispelling Myths
Comparisons of the cost of living between Australia and New Zealand frequently spark discussions. While some contend that Australia is less expensive because of lower rates of the Goods and Services Tax (GST) and lower grocery prices, the differences may be less pronounced. In actuality, everyday expenses and grocery costs are comparable. The total cost of living can be affected by petrol prices, medical expenses, and energy bills, with variations depending on where you live and your lifestyle preferences.
Taxes and Income Distribution
Australia’s progressive tax system allows tax-free income up to AU$18,000, but the tax rate rises to 47% at the top group (income over AU$180,000). The tax rate in New Zealand is 39% for incomes over NZ$180,000. Over 40% of households in New Zealand receive income and housing supplements, which enables many to receive financial assistance.
It can be challenging to choose between Australia and New Zealand for immigration. While Australia’s achievements frequently make the news, the truth is that both nations have distinct opportunities and challenges. Individual preferences and career objectives should be considered together with salaries, housing costs, everyday expenses, and taxation systems. We at Tri-Nations Migration believe in giving you honest, knowledgeable guidance to assist you in making the right choice for your future.
For individualised advice and help on your immigration to Australia or New Zealand, contact our qualified team of immigration consultants. To start your fascinating new chapter in life, get in touch with us today.