AU$100k Salary Not as Lucrative as It Seems in India

Karan Singh Gill, an Indian man living in Australia, recently explained on Instagram why his AU$100,000 annual salary appears higher when converted into Indian rupees.

Gill said his family thought he was a 'crorepati' after converting his income to Rs 67 lakh at the exchange rate of Rs 67 per Australian dollar. However, he pointed out that this conversion only applies to money sent to India and not expenses incurred in Australia.

Gill broke down how his income is spent, stating that AU$22,788 goes towards tax and Medicare levy, leaving approximately AU$77,000. He estimated annual rent at AU$26,000 and accounted for other expenses such as groceries, transport, electricity, phone bills, and insurance.

Gill emphasized the importance of considering everyday expenses in Australia when evaluating one's financial position. He explained that saving 30% of income is uncommon, even for those earning a high salary like his.