The Cost Of Living In Australia Compared To The Us

One of the popular destinations for US expats is Australia. Often, they turn to Australia to start a new life because of the favorable climate, employment opportunities and standard of living. Before taking this plunge, these intrepid travelers have studied the cost of living in Australia compared to the US and they have decided that Australia is the place to be. Here are the common baselines that behoove these individuals to make Australia their new home after choosing to move out of their home countries such as the US.

The Cost of Property. When moving to another country, you need to determine the actual dollars and cents you need to shell out whether you are looking to rent or looking to buy property. While you can find the comparative prices of similar homes between Australia and the US, there are many differences that also need to be considered when making this comparison, as location and quality form part of the equation.

The Tax System. The taxation system in Australia stands very far from the US tax rate. The US system differs as there is a federal tax system as well as a state tax system alongside it. On the other hand, Australia has one income tax system and there is a 1.5% health care levy on all taxpayers which funds the health care system Down Under.

Food and Drink. America has one of the lowest food and essentials cost in the world. On the other hand, the cost of food in Australia is quite high mainly due to the cost of transport. The overall cost though can be quite deceiving as personal preferences and tastes drive the cost of food wherever you may be.

Health Care Costs. This is where the major difference in the cost of living in Australia compared to the US lies. The 1.5% income tax levy funds the state health care system in Australia. This makes health care in Australia much cheaper compared to that in the US. In the US, much of the health care is paid for by private insurance companies, which drives up the cost. This is one of the reasons why the cost of living in Australia compared to the US is relatively cheaper.

While there has been an idea that the US is one of the cheapest first world countries to reside in and this becomes all the more apparent when you the cost of living in Australia is compared to the US. The costs though can be offset by what has been described at Australia Forum are the benefits of living in Australia and the prospects for the Australian economy which are looking much better compared to that of the US. Australia has been in continuous growth and has remained one of the most economically stable countries in the world during the worldwide financial recession. This has driven the cost of living Down Under upwards especially in the highly urbanized centers of the vast country. This should be the overriding factor when you review the cost of living in Australia compared to the US.