Australian agency owner says families need A$100,000 to get by
A real estate agency owner has argued that Australian families need around A$100,000 a year just to get by, citing high rent and everyday expenses. Brisbane business adviser Lawrence Petruzzelli agreed that rising costs have made it harder for families to maintain a comfortable standard of living.
The owner’s example assumes about A$80,000 take-home pay after tax, with A$40,000 spent on rent at A$800 a week, leaving A$40,000 for other costs and two children. Petruzzelli said a family may need A$300,000 for a good standard of living and pointed to tax differences between one and two incomes. Australia has no official poverty line; cited estimates put it at about A$30,368 a year for a single adult and A$63,752 for a couple with two children. The claim drew mixed reactions, with some agreeing housing costs are squeezing families and others saying A$100,000 is not poverty.
- A property owner says A$100,000 no longer stretches far enough for families.
- Rent and household costs are central to the argument.
- Australians disputed whether the figure can be called poverty.
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Australia’s cost-of-living debate centres on whether household incomes are keeping pace with expenses such as housing, food and bills. The amount a family needs varies with where it lives, its housing costs and how many people it supports.
Lawrence Petruzzelli is a Brisbane business adviser, while the agency owner is speaking from a real estate perspective. Australia has no official poverty line, so estimates of minimum income differ; poverty measures also distinguish between getting by and having a comfortable standard of living.
Income tax can affect how much a household keeps, and a family’s finances may differ depending on whether one or both adults earn. Housing costs are a major part of the debate because rent takes a larger share of income when homes are expensive.
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Originally published by Daily Mail as “Business owner claims $100,000 is the new ‘poverty line’ for Australian families amid soaring living costs: ‘You have to live in a car’”.