@gerardrennick70: THIS GUY IS RIGHT. IT'S VIRTUALLY IMPOSSIBLE FOR A FAMILY TO LIVE ON $100,000 👇 By the time you pay tax of $22,000 and super of $12,000 you're left with $66,000. The average mortgage in Australia is around $700,000 so if you paying 6% on that, I.e. $42,000 that will leave you with $24,000 for everything else. That sort of budget is simply not sustainable. That's why People First is lifting the tax free threshold to $45,000 to cut income tax by almost $4,000 as well as introducing income splitting. We know the best way to get Australia back on track is to get families back on track economically. Sign up today if you want to see a more prosperous Australia at Peoplefirstparty.au •••••••••••• "Aussies have been left divided over claims $100,000 is the “new poverty line” in Australia, with one tax advisor arguing families now need to earn significantly more than that to raise kids. Lawrence Petruzzelli, a Brisbane-based tax and business advisor, shared a now-viral video to his social media this week where he stopped and interviewed a business owner in the street. The man, who owns a real estate agency, claimed $100,000 was now “literally the poverty line” for families. “If you earn $100,000, you take away your tax so you are left with around $80,000. Then if you’re renting a house in a decent area, you’re going to spending at least $800, minimum,” he said. “Half of your wage out of that $80,000 after tax, $40,000 of it is going straight to rent. Then you’ve got the cost of food, the cost of petrol, everything else, rego, insurance. “By the time you’re finished and you’ve got two kids … $40,000 to support that family, apart from the rent, is not going to go anywhere. So you literally have to live in a car.”

Gerard Rennick 🇦🇺

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Region: AU

Friday 23 October 2026 09:02:33 GMT