r/AusFinance

Australia has historically avoided technical recessions better than most advanced, first-world economies. We famously missed the 08 GFC but some people here act like we were in the trenches cause house prices dipped maybe 10% lol. COVID did cause a 7% GDP contraction but government intervention and the 0.1% cash rate caused things to rebound very fast, GDP returning to pre-pandemic levels by early 2021 which surpassed most of our global peers.

I think just we have a very sheltered view of what a recession/financial crisis is. My mum is from Ireland which got hit HARD in the GFC, I've heard horror stories from her and her family. Insane levels of unemployment, wage decreases, increased levies/taxes, owing millions more on the mortgage than what homes were worth as prices plummeted etc. Pretty much everyone was forced to leave the country to continue making a living. This wasn't limited to Ireland obviously, it happened throughout Europe and the US etc.

I'm not saying things need to get as bad here for us to worry about a recession and there have been things worth worrying about like rising commodity prices, house prices, cost of living are all valid concerns. But, I just can't help but think of how good we have it here, especially when hearing what happened in other countries. If shit actually does hit the fan here, we're in for a very rude awakening.

Can anyone explain how the voluntary super thing works? I am in my early 30s, been working since my 20s. Numbers have always confused me so I don't really understand the whole super thing except you use it when you retire if your super hasn't screwed you over. Do I get tax breaks if I put money into my super? Max amount I can put in over the financial year? How easy is it to withdraw it if I want to buy a home...

With all the interest in the cc surcharge recently and how it may make certain things more expensive, I was wondering if and what out there has gotten cheaper over time?

I make 160k a year but if I take a local job , I’ll make 100k.

The problem is that the travel hours are brutal and I miss out on so much family time.

I wake up at 5:30, to get ready so that I can be at the office by 8:30. I get home back around 7pm.

Then if there’s any work related dinners or client dinners whatever, that makes it home at 8:30pm.

Also basically I leave home when it’s dark and get back home when it’s dark in winter.

If I take the local job, I’ll take a 60k pay cut before tax, but I can leave home at 8 in the morning and also be home at 6:30pm. Also no client dinners.

Free nice dinners are a luxury, but it gets old.

If I take a 60k pay cut… my borrowing power also goes down heaps.

How to lodge a case of unfair workplace practices against an employer?