Average pay around the globe
SWITZERLAND: TOPS FOR TAKE-HOME PAY AND LOW TAX RATES, WITH SA LAGGING FAR BEHIND
According to a Global Taxes report by CapRelo, the average South African earns $12 535 (R151 626) a year. With a 19% tax deduction, you take home an average of $10 173 (R123 055) annually.
Of 41 countries, CapRelo ranks Switzerland first as it has the highest average pay and lowest tax rate. Its average pay is $85 718, with a 2% tax deduction leaving $84 006 to spend.
On the flip side is the land of spice and heat. CapRelo ranks India as having the lowest average take-home pay of only $1 670. Zero tax is deducted.
Next is Indonesia, with $3 400 average pay, and a 5% tax deduction, so you’ll have $3 230 a month to buy its flavourful food.
Saudi Arabia, the seat of middle-eastern royalty, also has zero tax. Take-home pay averages about $21 720. An inexpensive meal would cost about $5.33, according to Numbeo.com.
The US, on the other hand, deducts 18% tax from an average $64 154. This leaves $52 344 for living costs and take-aways.
If running away to Australia has been on your to-do list, then you are likely to earn $59 538 on average. The government takes away 21% in tax, leaving you with $46 781.
The Japanese live off an average pay of $35 279 after a 10% tax deduction.
In populated China, the average earning is $8 250. With 12% tax deduction, you’re left with $7 247 (fortunately everything in China is quite cheap).
Moving to the Nordic region, Denmark is praised for its laws and free-education policy, but living there may not come cheap. CapRelo ranks its tax rates the highest. The average individual earns $64 310 a year and, with a 56% tax deduction, takes home around $28 227. It’s pretty, but also pretty unaffordable for the average person.
Sweden falls second to Denmark in terms of high tax. If you move to picturesque Stockholm, you’d earn an average of $46 804, with about $28 227 left after a hefty 52% tax deduction.
Those who live in the UK earn on average $46 252. After 13% tax, they’re left with $40 169.
To be a señor or señorita in Spain, you’ll earn on average $30 613, minus 30% tax. So you’ll have $21 429 to live off.
Fancy fine French food? Your average earnings would be around $40 718. Government will take away 30% in tax, leaving you with $28 503.