Moving to Australia permanently is a dream of millions of immigrants from all over the world. This is not surprising, because the Australian continent has incredible beauty with a huge variety of fauna and flora, rich natural resources and optimal conditions for a happy and long life. Australia's population in 2024 will be about 26.6 million people. The largest ethnic groups are British, New Zealanders, Chinese, Indians, Filipinos, Vietnamese, Italians and Germans.

Life in Australia for foreigners from third countries is a great opportunity to ensure a decent future for themselves and their children. According to estimates of the Australian Bureau of Statistics, about 28.5% of local residents were born abroad. The large influx of migrants is partly due to effective immigration programs in Australia. Below we will tell you about prices and cost of living, current tax rates, demanded professions, salaries, and the pros and cons of living in Australia in 2024.

Living in Australia

Pros and cons of living in Australia

According to official data of the Australian migration authorities, the main reasons for foreigners to come to Australia are work and family reunification, followed by education, business and refugee status. Several hundred thousand new permanent residents join the local population each year. Regardless of your immigration motives, you should understand the positives and negatives of living in Australia.

Pros of living in Australia

  • Australia has a very livable climate and clean air, stunning nature, great food, many attractions, cultural and sporting events that take your breath away.

  • Australian society includes many cultures and religions. People are friendly, helpful and tolerant of all races.

  • Australia's strong economy creates career opportunities and good prospects for effective business.

  • Australia is a very safe country with good health care, social welfare, infrastructure and a legal system that is virtually devoid of corruption.

  • Australia's higher education system is considered one of the best in the world. This is evidenced by the fact that the country is second only to the U.S. and Britain in the number of foreign students.

Living in Australia

Cons of living in Australia

  • Remoteness from other countries and continents. For example, the distance from Sydney to Moscow is 14.5 thousand miles, and the flight (with connections) takes an average of 18 to 24 hours.

  • High prices for real estate, food and utilities, as well as education in private schools and universities.

  • There are some difficulties with the functioning of public transport. Intercity buses and trains do not run very often, so it can be difficult without your own car.

  • Some stores close very early.

  • There are many animals (insects) in Australia that are dangerous (poisonous) to humans, such as snakes and spiders.

Prices and costs of living in Australia

According to the latest data from Australian experts, house prices in Australia have fallen by an average of 4% in recent years. Despite this, compared to the nominal total income of Australian citizens, the cost of housing is inflated by at least 45%. The highest rental prices in Australia are recorded in Sydney, Melbourne and Darwin.

The average cost of housing per household in Australia is A$1,425 per week. At the same time, a single person under the age of 35 spends about A$284 on housing, A$122 on food, A$18 on clothing and shoes, A$23 on health care, and A$83 on recreation. Much depends on the region, city, neighborhood and some other factors, but the average weekly rent in major Australian cities is as follows:

  • Studio – A$250-350

  • Studio Apartment – 350-450

  • Two bedroom apartment/home – A$500-600/500-750

  • Three bedroom apartment/home – A$700-1,000/800-1,200

Prices in Australia in 2024 (A$):

  • Bread (500g) – 3.72

  • Milk (0.6 L) – 2.34

  • Eggs (12 eggs) – 6.00

  • Chicken Fillets (1 kg) – 12.92

  • Potatoes (1 kg) – 3.74

  • Australian cheese (1 kg) – 15.33

  • Bananas (1 kg) – 3.98

  • Apples (1 kg) – 4.84

  • Gasoline (1 liter) – 1.91

  • Cab (1 km) – 2.80

  • Public transport fare – 5.00

  • Monthly bus pass – 169.22

  • Utilities (85 sq.m.) – 332.82 per month

  • Cell phone service (month) – 43.70

  • Internet – 85.51 per month

Note. Prices are quoted in the local currency – Australian dollars (A$). The exchange rate of one A$ today is 0.7 American dollars/Euro.

Taxes in Australia

Taxes in Australia

One of features of the Australian tax system is the difference in rates of the income tax for local inhabitants and for temporary workers from abroad (see below). In general the tax burden in Australia is comparatively lower than in most EU countries and other developed countries of the world.

Tax rates in Australia in 2024

Corporate income tax – 30% basic rate and 25% if the annual turnover of less than 50 million dollars.

VAT (GST) – 10% on most goods and services.

Income tax – a progressive scale depending on annual income:

For residents:

  • From 0 to A$18,200 – 0

  • From A$18,201 to A$45,000 – 19 cents on every A$1 over A$ 18,200

  • From A$45,001 to A$120,000 – A$5,092. Plus 32.5 cents on every A$1 of an amount over A$45,000

  • From A$120,001 to A$180,000 – A$29,467. Plus 37 cents on every A$1 of an amount over A$120,000

  • From A$180,001 and over – A$51,667. Plus 45 cents on each A$1 of the amount over A$180,000

For non-residents:

  • From A$0 to $120,000 – 32.5 cents for every A$1

  • From A$120,001 to $180,000 – A$39,000. Plus 37 cents on each A$1 of the amount over A$120,000

  • From A$180,001 and over – A$61,200. Plus 45 cents for every A$1 of the amount over A$180,000

Medical fee (residents only) – 2%

Jobs and wages in Australia

As mentioned above, working in Australia is the main reason for such a high influx of foreigners to the continent. The country has a special program of professional immigration, which allows local companies to quickly find a qualified specialist from abroad, and thus fill the gap in the workforce as in a particular region, and the country as a whole.

To participate in the program and subsequently obtain a work visa and move to Australia for permanent residence, the candidate must satisfy a number of requirements, including knowledge of English, education, skill level and experience, age limit (no more than 45-50 years), lack of criminal record and serious illnesses. It is equally important to have an in-demand profession in Australia.

The national and regional Skilled Occupation List (SOL) is released twice a year by the Australian Department of Labor and Small Business. The people most likely to find work in Sydney and other major Australian cities in 2024 are health professionals, construction workers and engineers. In addition, professionals in the automotive and architectural industries are in demand.

Since July 1, 2023, the minimum wage in Australia is 23.23 Australian dollars per hour. Lower rates are available for young professionals under the age of 20. According to the local bureau of statistics, the average wage in Australia is A$1,888.80 per week before taxes. A full-time adult Australian earns $1,956.80 per week.

Higher education in Australia

Higher education in Australia

Today, there are more than 330,000 international students studying in Australia – about 25% of the total student population. The budget expenditure for these purposes exceeds 200 million Australian dollars a year. Australia's higher education system includes 41 universities offering more than 22,000 courses.

The prestigious QS World University Rankings® 2024 list 38 Australian universities. The universities of Melbourne and Sydney (second and third place) and Australian National University are considered the best. The average cost of training in Australia for a bachelor's degree ranges from 10.7 to 23.5 thousand U.S. dollars a year.

Medicine in Australia

The Australian health-care system consists of a wide range of services, including general practice and preventive health care, emergency and inpatient care, rehabilitation and palliative care. Basic medical services are provided free of charge to the population, i.e. they are covered by insurance (Medicare).

In Australia, there are both private clinics and public hospitals, which are owned and operated by states and territories. Some Australians choose government coverage only, while others combine Medicare with private health insurance.

In conclusion, Australia is deservedly popular with immigrants. It has everything for a tranquil and exciting life – from beautiful nature, including exotic animals, sandy beaches, rainforests, deserts, and snow-capped mountains, to the impressive economic potential that ensures stable state development and a high level of prosperity for its citizens.

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