Monday, February 9, 2009

So...how much is this move going to cost?

FINANCES

This is a big decision and it is also a very costly decision. My only advice is to start budgeting early for this trip. Getting set up in a new country isn't cheap.

I've compiled some lists of costs you may face as you move to OZ.

1. Aussie Boards - Evaluation Costs
Desktop Audit $310 AU
Comp Exam (clinical, written) $810 AU
Comp Exam (practical|) $1820 AU

Total: $2440 AU + postage + cost to certify passport pics, etc.

2. Flights to Australia
This can vary; usually between $700-1000 CDN (one way)

3. Travel Insurance
I highly recommend getting health insurance;
purchased mine from Manulife for approx $70 CDN

4. Registering with State Boards
After you have passed the Licensing CCEA Exams, you will be required to get Board certified depending on which state you choose to practice within.
Obviously this varies state to state, but is generally approximately $400 AU

5. Private Indemnity Insurance to Practice
Guild Insurance is the most common provider for PI Insurance in Australia. The average cost is about $3000 AU annually. This can be paid monthly. I would recommend speaking to your employer about a way to deduct this from you salary each month before you pay tax ("Salary Sacrifice" - more on this, see the post on Contracts and Agreements).

6. Accomodation Costs (during Exam period)
The CCEA recommend coming to Australia one or two months before the exam to observe practice in Australia. If you can afford to this, then by all means take some time to adjust to the climate, time change and observe a chiropractor. However, after 4 years of paying tuition I honestly couldn't afford to pay for accomodation while I was in Australia a month before writing the exam. Some of my fellow expat classmates and I arrived about 2 weeks before the exam. We spent the next two weeks cramming for the three days of examinations. Two weeks is enough time especially after having written the Canadian Boards in June. Accomodation will vary depending on if you are staying at a hotel, a hostel or crashing at a friends home. For me, I spent the first week on a friends couch in Sydney and then about $70 AU per night for the following week. Expect to pay anywhere between $50 - 100 AU per night depending on where you stay.

7. Set Up Costs
Whether you choose to live in the city or in a regional town will dictate how much you will spend on rent/fuel/food/etc. In Mackay (regional), my costs were: $200 AU per week for rent, $50 AU per week for food, $50 AU per week for fuel/car maintenance. It was harder to find accomodation in a regional town. In Brisbane (city), my costs were a little cheaper and it seemed easier to find a place to live.

THE COST OF LIVING DOWN UNDER

To be honest, I believe the cost of living in Australia is higher than Canada. But others have different views. Currently, the exchange rate is 0.824.


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