Pay Rise Approved

I got an email today advising that a 3.5% payrise had been approved. To be honest I’m not terribly excited about it. On my rough calculations (including the cut in income tax that starts at the same time) I’ll get an extra $65 a fortnight in my pay packet which isn’t a bad thing.

But the way the Australian tax system works it’s pushed me over a threshold where I have to pay an extra 1% tax if I don’t have private health insurance. I’ve never had or felt the need for private health insurance. However the extra tax is going to cost me atleast an extra $500 a year, and the health insurance will be about $1000 a year.

So at the end of the day I’m going to get myself some health insurance, which will cost me around $40 a fortnight leaving with a real income increase of $50 a month, which wont even cover a moderate rent rise which I’m expecting in November !

On the bright side google is sending me $130 from my adsense earnings, I just wish they would send me that much every month, instead of every six months. Atleast it will cover the hosting bill for the next 12 months.

So to get back on track, my payslip showing my higher annual salary should be available next Friday, and once I’ve got that I’ll be submitting a personal loan application for $18,000 and that is going to help me stop being a credit card victim.