Living cost in Melbourne

Some years ago, I find it very difficult for me to check for information of the living cost in Australia when I was looking for more detail information about Australia. Very few website available but seem is outdated if you are trying to Google it online.

Here I would like to share some of the living cost information in Melbourne so that someone who is keen to know about living standard in Australia would find it useful.

Asian grocery cost (just as guideline as up to date):

Usually, Melbourne city, Footscray, and Boxhill are few area that you can easily get cheaper Asian groceries.
$=AUD

1. Thailand imported rice, $24/10kg
2. Spring onions, $1.20
3. Lettuce, $1.70/each (During Spring sales is abt $0.99)
4. Soya sauce 500ml(Kikoman or LeeKimKee brand) AUD6
5. Chili, $9.99/kg
6. Tomyam paste/bottle, $2.50
7. Choysum, $1.40/stack
8. Kangkung, $1.40/stack
9. Mackerel fish, $24
10. Grapes, $6/kg
11. Chicken whole, $8
12. Salmon, $6.50/piece
13. Skinless prawn, $13/kg
14. 1L olive oil, $8
15. Onion 1 pack ( abt 1kg),$1
16. Garlic 1 pack (abt 6 pcs),$1
17. English spinach, $2.98/stack
18. Mushroom cup, $7.98/kg
19. Chinese mushroom (500g), $9
20. Japanese toufu, $1/each
21. Peanut butter 500g, $3
22. Whole meal bread loaf 800g, $2.50 (sometimes can find discounted price at $1.20 from Coles/Safeway)
23. Cucumber, $1.48/kg
24. Yogurt, $4/kg
25. Ginger, $13/kg
26. Tomato, $1.75/kg
27. Msia Kampung Koh chilli souce, $1.60/bottle
28. Farm egg XL size, $4/dozen

Transportation cost:
1. Cost of owning a car can be varies according to age of the car and type of a car. You can go to http://www.carsales.com.au/ to check for price of second hand car.
2. At the rate of USD80/barrel world petrol price, Ron-95 petrol in Australia is selling at about $1.25/liter. You can get 4 cents discount if you purchase $30 more receipt from Coles or Safeway.
3. Car insurance cost abt $900-100o/yr including coverage for windscreen damage
4. Car service about $250 each time for changing engine oil and oil filter
5. Cost of public transport depending where you going and where your are staying. Go to http://www.metlinkmelbourne.com.au/ to look for public transport fare

Housing:
A decent housing at inner suburb for 3-rooms house near the city is about 500k-600k. A 3-rooms house at outer suburb at west of Melbourne will be about 300k-350k.
Rental varies and depending which suburb you are staying. Go for http://www.realestate.com.au/ for more information.

Utilities cost:
1. Electricity - 18- 19 cent per kw/hr
2. Gas bill about $25/mth without ducted heating system
3. Water rate (Based on City West Water as per date)
<440 day =" $1.26"
>440<880 day ="$1.4785"
>800 litres/day =$2.1844
Sewerage $1.4545/kilo litres

Water service charge abt $35/ 3 mths
Sewerage service charge abt $40/ 3 mths

Hope these information are helpful to those who intend to move to Melbourne to live.

Online saver

After arriving to Melbourne for almost a month, I managed to grab a local Australian money magazine. I had been developing a habit of reading finance magazine since few years ago. I am glad that I can find the various type of finance magazines in Australia as well.

One article caught my attention regarding higher interest rate of online saver from Ubank. Ubank, NAB backed bank has launch an online saving account paying a good rate of 5.11%p.a compare with the rest of competitors.

To find out more on this bank. Please log into following link.
http://www.ubank.com.au/ub/web/usaver/online-savings-overview

New update on top 10th country of origin migrant to Australia

I had shared the information about number of Malaysian that getting visa and permanent residency in my previous article.
This is the latest information in year 2008-2009 on top 10th country of origin migrant to Australia.

Starting a saving account in Australia

Transferring your money to Australia is one of process while you are relocating to Australia. Do bear in mind that opening a saving account in Australia no need to be qualified as a resident. Therefore, you can even start a saving account while you are doing your first landing after you got your visa or visiting to Oz. However, without the TFN, all interest earn will be taxed 10% for normal saving account.

Australian bank is offering pretty good interest rate for investment saving account compare with some of South East Asia countries such as Malaysia or Singapore.

There are few options of saving account below which are offering good interest rates.
1. Bankwest: Gold Term Deposit (saving amount $5,000 - $20,000)
2. Bankwest: Bankwest Smart esaver (give good rate of interest each month without any withdraw. Investment up to $5000,000)
3. Bankwest: Regular saver high interest account ( deposit $50-$500 each month without any withdraw )
The variable interest rate for accounts as mention above.
4. ANZ Bank: First Home Saver Account

For those who intend to save money to purchase a new home in Australia, start a First Home Saver account is best option to earn interest rate as high as 17%.
However, one of disadvantage of the account is retaining the account for at least 4 financial years in order to use it for first home purchase. I believe that many migrants would not prefer to rent a house for four years because house rental rate in Australia is quite high compare with monthly housing mortgage installment.

To open the first home saver account, you must:
- be aged 18 or over and under 65 as a resident
- have a tax file number
- have never owned a home in Australia that you have lived in
- have never opened a First Home Saver Account before

Below is features of the account including attractive interest rate that offered:
- the Government will contribute 17 per cent on the first $5,000 (indexed) of individual contributions made each year;
- an overall account balance cap of $75,000 has been introduced;
- Investment earnings (or interest) that accrue in the accounts will be taxed at 15 per cent.
- Withdrawals will be tax free where they are used to purchase a first home to live in.

More detail information about the account can be found at Q&A of First Home Saver Account

Another sham and scams in education industry - a way to gain permanent residency

Looks like this is not as simple as we think as education a way of gaining the immigration pasport seem led to black market.

Refer to news link as below:

http://www.theaustralian.news.com.au/story/0,25197,25778649-601,00.html

Job slump hits migrants most in Australia

http://www.theaustralian.news.com.au/story/0,25197,25738099-601,00.html

How the new financial budget helps

How does a new financial budget helps? Effective from 1st July 09, some of the list below will change for better to help us to ease individual financial burden during this crisis.

For Victorian, first homebuyers in Victoria are eligible for up to $36,500 in grants before year end. For those who is still not having the first property, better hurry for this before the first home grant boast from federal goverment end.

http://www.news.com.au/business/money/story/0,28323,25717019-5017313,00.html

Factors to consider before you go ahead

Federal budget seem as expectantly unfavourable to many Australian this year. I think, it is a bit too late to post this article as the budget already over and discussed for some months ago.

I guess, for those who intend to migrate or considering retire in Australia. There are few factors below can take into consideration before you make any decision.

1. Retirement age: Increasing the qualifying age for pension to 67 in 2023 (at current pension age is 65 for male and 63 for female). The new changes will affect for those who is currently below 51. However, pension rate was revised as the maximum assistance for single pensioners will increase from around $304.19 per week to $336.68 per week and for pensioner couples from around $497.36 per week to $507.50 per week.

2. Testing private health insurance rebate: Private health insurance rebate available (for single income more than 75k/yr and double income 150k/yr) will be cut and means tested. Medicare surcharge will rise to 1.5% for high income earner for those who do not have private health insurance.

3. Family: From 2011, parents will have access paid leave up to 18 weeks at minimum wages or around $504/week. In option for the plan, mum or dad forfeit right to receive baby bonus or certain family tax benefit.

4. First home buyer boast will be extended until 31 Dec09. From then, it will be halved to $10,500 for existing homes, and $14,000 to new homes.

5. There $8.453bn was allocated for nation infrastructure building on road, rail and port. It also mean that more professionals on civil industry will be needed to run on various national project in decade ahead.

Detail from TheAustralian
http://www.theaustralian.news.com.au/specials/0,,5017014,00.html

Australia falling from rich list

AUSTRALIA has fallen out of the top 10 list of countries with the greatest number of millionaires, a report has found.

http://www.theaustralian.news.com.au/business/story/0,28124,25688196-5017996,00.html

Skill migrant outcome top 10 occupation 07/08

This is another interesting findings from migration statistic of top 10 skill migrant occupation in year 07/08.

1. Accountant (9107)
2. Computing professional (4198)
3. Cooks (3485)
4. Registered nurses (2379)
5. General managers (1315)
6. Hairdresser (1082)
7. Marketing specialist (990)
8. Mechanical engineers(1007)
9. Business professional (953)
10. Civil engineers (921)

The statistic above is based on immigration trend before global financial crisis hit Australia. However, it will still serve as basis guideline on which profession has higher chances of getting skill stream visa.

Number of cooks obtaining visa increased from 2012 in 06/07 to 3485 in 07/08. This was due to factor of many overseas student of getting their permanent visa by studying in Australia (as mention in my previous posting). In early April, cook profession was taken out from critical skill list to ensure the locals job opportunity would not be affected by influx of migrant.

Although accountant profession rank highest in skill stream granted visa, recent news revealed that very few have been able to secure work as accountant. Early of this year, HES's data shown that low level of English competency among former overseas students who have secured skilled migrant visas as Australian-trained accountants are causing many concerns from employers during the hiring process.

http://www.theaustralian.news.com.au/story/0,25197,24946893-12332,00.html

The new financial year for 09/10 is just around the corner. Migration report for 08/09 will be published soon. We will look forward to further dive in skill migrant ranking after being affected by gloom economy outlook in Australia.

Apa khabar? - going downunder

In 2007/08, total numbers of migrant granted visa in Australia soar to 158,630. Thanks to economic boom especially in the mining industry, the number was the highest compared with previous year. The skill stream take up the majority number which is a total of 108,540.

In view of the numbers of migrant, Malaysian migrant rank among 7th of top 10 country of migrant which contributed 4,842. It is such a surprise that Malaysia can reach this ranking although it is just a small and less populated country compared to UK, India and China which are top 3 ranking. It may be possibly due to the lay back nature, lifestyle and the society freedom in Australia which attract many Malaysians to call this land their second home.

The statistic data of immigration in 2007/08 is just a tip of ice-berg of the entire Malaysian immigrating trend. The massive growth of Malaysian immigrating to Australia especially among Chinese ethnic continue all the way since 1973 when the Immigration Restriction Act had officially ended.

(refer to History of immigration from Malaysia)

Due the current effect of globalisation and political instability, Malaysian immigrating trend to Australia is expected to increase further.

Malaysia Boleh!!!

The era of unrestrained permanent residency for overseas students may be over

This is quite interesting news about getting permanent residency through education in Australia.
Other than off shore skill migration, family migration or business skill migration, education in Australia seem another popular way to secure the permanent residency status in Australia.

http://www.theaustralian.news.com.au/story/0,25197,25646327-12332,00.html

Convert to Victorian driving licence

Convert driving licence to Victorian licence depends on two condition.

1. Temporary visa holder

If you are temporary visa holder, you can drive on your overseas licence (provided it is current and valid) for an indefinite period provided your overseas licence is in English. For non-English licence like Malaysian licence, it is better to translate it and get a Commission of Oath to acknowledge the translation copy.

2. Permanent visa holder

For permanent visa holder, you can only use the foreign licence for 3 months from the date you first entered Australia or from the time the permanent visa was issued to you (whichever is the later).

For Malaysia driving licence holders, unfortunately it is not under the list of exemptions from licence tests countries. Probably you would have to refer to this link to understand the list of test that you would need to go through and the fees that you would need to pay.

1. List of driving test

2. Fees of driving test and licence

For those who is Singapore PR, something interesting to get yourself save some amount of money from paying driving test fees through this conversion. Singapore licence holder is under the list of countries that exempted from taking the licence test. The conversion fees is free of charge. However, you would need to pay for new issued driver licence fees. (refer to licence fees link).

If you are Malaysian who is also Singapore PR, do try to convert your driving licence to Singapore licence. Then, convert the Singapore licence to Victorian licence so that can help you to save some substantial amount of money.

Things to do first

1. Apply for tax file number (TFN)
It is important to register TFN when you first set you foot in Australia. Indeed, you can register TFN when you do the first landing for permanent visa holder.
With TFN, you are exempted for being charged 10% tax for the interest that you earn from bank investment account. In fact, this can help you to save substantial if the amount of saving in bank is large.

2. Register with medicare
If you are permanent resident visa holder, you will be entitle for medicare benefit immediately. With medicare, it also mean that you will be taxed 1.5% from you total income.

3. Open a bank account
Actually, if I am not mistaken, any foreigner can open an bank account in Australia. Compare the bank interest between Malaysia and Aus, Aus local bank give a substantial interest rate as high as 5%. If you are keen in investing AUD and earn some interest at the same time, open a bank account in Aus local bank is the best option while you are traveling to Aus. It also mean that you can start investing your money away before you settle into Aus.

However, as non-resident, you will be taxed 10% of every interest that you earn as well. Managing the acc out of Aus is also pretty challenging but the bank services are quite good. You can even communicate with bank customer service with email, view the statement and do transaction online.

4. Register with Centerlink
This will only applicable for permanent visa holder. However, some of the benefit provided by centerlink will have 2 years waiting period for permanent visa holder as well.

5. Register for English class
Communicating in English is very important and the key to understand some of local Australian English words.

6. Enroll children for school
It would be applicable to those who has family with kids.

7. Apply for driver's licence
This section is pretty tricky and interesting to find out procedure. I will explain more in getting Victorian licence section.

Train line map in Melbourne

Getting a new start in Melbourne will need to understand the train line in both Metropolitant and Victoria state. It seem that Melbourne train system is as complicated as London Tube :)


Picture taken from http://www.railpage.org.au