Average salary and cost of living in malta

Hi magr,

I understand your position. An entry level position as an accountant or lawyer in Malta might pay around 14-16.000 € /year before taxes and insurance. So that could be the level you can expect in Malta.

The actual salary depends on your qualifications . Are you a lawyer or accountant ?

Of course a job in Malta is better than no job in Greece but you should look at earning at least 1400 € /month before taxes.

I wish you luck.
Ricky

so, 1400euros before taxes per month can ensure me a proper living in Malta? Can ensure me that i can make ands meet with all the rent the bills and the general living cost?

And what about after taxes? How much is the net income...

ps. I am an entry level  Accountant and Ship Agent.

just my few bobs worth - i think its a bit strange that they would "offer" you the job at this level when there are so many capable young unemployed maltese people....so for what its worth i think your being had.

Hi magr,

I personally don't think that 1400 €/month is enough to live comfortably off. The expat friends I know and work in i-gaming earn around 20.000 € /year and more.

An entry level accountant should be able to ask for 20.000 €/year but ,as toon said, the island is full of young accountants without work so that might mean increased competition salary wise.

But how much income you need depends on your personal situation and can take starting a new career into consideration.

The first approx. 9000 € are tax free and then the next band is 15 % tax. So 14.000/year would mean paying around 750 € taxes.
The amount between 14.500 and 19.500 is taxed at 25 % and any amount above 19.500 is taxed at 35 %.

Social security is 10 % of the weekly earning up to a maximum of 37,85 € for the employee. You can check your personal situation at:
http://www.ird.gov.mt/

I wish you luck.

Cheers
Ricky

Hello all,

Just received an offer for working living in Malta. The company I would work for is in Aviation Industry. The offer is 25.000€ gross per year. Any one can tell me if that's enough for a proper life in Malta. I would be lving in Luqa. Thank you

Hi Dambaso,

welcome to the forum.

It would be easier to reply if you and any other reader would open up their own , new question.

Please follow the answers being given to previous, similar questions. They answer your question too.

But re-consider living in Luqa! Just my personal opinion.

Cheers
Ricky

ricky wrote:

The most recent survey of jobs and salaries that I know of was published by Reed in  2009 but I think the figures quoted are still fairly correct:

http://www.reedpressoffice.co.uk/docs/M … 202009.pdf

Acc. to this list, the salary for technical jobs are 2 or 3  times higher than others.

I have a strong technical background and few months ago I earned good money as Engineering Coordinator/Lead Engineer in Austria.
Due to some private reason I quit the job and moved to Malta.
Obviously because of a misunderstanding I got a vacancy note from ETC for a post in the tourism sector ... and it looks quite good, but they offer only 13k/yr to me for a 6-day week (at the beginnig ).
In the salary list (from 2009 !) even as Project Engineer I would get 2 times more and as Engineering Manager actually 3 times more - are these figures correct?

Then it's maybe better I start to search for a technical job ...

Hi matm,

you should definitly look for a job that appreciates your experience and qualifications.

Even then you will probably have a problem getting a salary anywhere near what you had in Austria but a salary as project engineer around 26.000 or more should be possible.

Cheers
Ricky

ricky wrote:

The first approx. 9000 € are tax free and then the next band is 15 % tax. So 14.000/year would mean paying around 750 € taxes.
The amount between 14.500 and 19.500 is taxed at 25 % and any amount above 19.500 is taxed at 35 %

Hi Ricky,

I'm not very familiar with personal taxation here and I saw your comment that the first 9000 Eur are tax free. Does that mean that if you only work a part of the year and your total earnings per year don't exceed 9,000 you can get back the tax taken out of your wages? Is there such a concept here of filing an annual individual tax return and getting a refund of taxes paid? Or you are being taxed based on your annual salary as per contract and are unable to claim back a refund if you don't work the full year?

Thanks for any advise,

Irina

ricky wrote:

problem getting a salary anywhere near what you had in Austria

Thankx for your answer, Ricky.
I'm well aware of that, but I was surprised that here is such a large gap between salaries of different jobs resp. business sectors

For a job in tourism sector with responsibility also in leading 4-5 employees the salary is just something over 1000,- per month and e.g. as technical engineer with fewer responsibility you get 2 or 3 times more money ???

I was also thinking of working abroad again. Maybe 3 or 4 months on a construction site somewhere else and I could earn enough money to make holiday in Malta the remaining 9 months of the year Ž ... but to be honest, I would prefer staying here in Malta with my wife and my dog ... unfortunately I cannot have everything ... and this tourism thing sounds very interesting to me

Markus

Hello everyone!
We are thinking of moving to Malta (four of us) from Poland. Please give me some info about earning of bus drivers, my husbend used to do that in London. Will he be able to feed us, i mean my son is 2,5 and my daughet is 5 months? What about nursery is is expensive for children?
Thanks
Aga

Hi aga ,

welcome to the forum.

Arriva bus drivers earn about 250 € /week and are required to communicate in Maltese and English.

I doubt if that is enough for an Expat family with 3 children.

Check out the forum for information about cost of living in Malta.

Cheers
Ricky

Hello everyone

I wonder if any of you guys can help me with couple of questions.

I am currently based in Portugal and I work from home for an UK online gaming company. Without working extra hours, I earn about 18.000€/year, which is around 1.500€/month.

I am considering moving to Malta and look for a 1 bed apartment in Msida area. My question is: working as self-employed and earning this sort of salary, what would be my net salary after paying all the normal contributions?

And also, do you think that this kind of salary would allow me to live in Malta decently, or will I struggle a bit?

Thanks in advance!

Tony

Hi Tony,

welcome to the forum.

Working as self-employed would mean paying around 100€/month on contributions plus around 1200€/year on taxes....that leaves around 1300 E/month.

If you are on your own it should be fine but of course it still depends on your personal lifestyle.

I'm not that sure whether it is better than living and working in Portugal though!

What advantage do you see in living and working from Malta ?

Cheers
Ricky

Hi ricky,

Thanks for your prompt reply.

To be honest, I always wanted to go to Malta and see how's the living over there. I have been abroad for the last 14-15 years, lived in England, Scotland, Ireland, Gibraltar and now wanted to try Malta. Unfortunately, things here in Portugal are not good as few years ago, due to the recent austerity reforms.

One of the things that I donŽt like also here in Portugal are the tax rates for self-employed people, which are much higher than in Malta.

Do you reckon that I would be able to find a decent 1 bed apartment in Msida for around 350-400€ per months?

Thanks again ricky!

Tony

Hi Tony,

350 -400 € /month for a 1 bed in Msida ...no problem . You should get a nice place for that money !

Cheers
Ricky

Thanks for all your replies ricky, much appreciated

income rate:

0 - 8,500     0     0   
8,501 - 14,500     0.15    1,275   
14,501 - 19,500     0.25    2,725   
19,501 and over     0.35    4,675


can any one explain the above to me?
if my salary in 15000 yearly,,,, how much tax i'll pay?
i can see there's a big deference between 14500 and 15000!
500 EUR can make a deference of the rate percentage.

Designs wrote:

income rate:

0 - 8,500     0     0   
8,501 - 14,500     0.15    1,275   
14,501 - 19,500     0.25    2,725   
19,501 and over     0.35    4,675


can any one explain the above to me?
if my salary in 15000 yearly,,,, how much tax i'll pay?
i can see there's a big deference between 14500 and 15000!
500 EUR can make a deference of the rate percentage.

From EUR 15,000 you will pay tax of 15,000*0.25 - 2,725 = EUR 1,025

Since your week salary is EUR 288.46, the SSC rate is 10% and total for the year 288.46*10%*52weeks = EUR 1,500

Net salary per month (15,000 - 1,025 - 1,500) / 12 = EUR 1,040

I've got a calculator app for Maltese salaries and the numbers shown are exactly what Spiridonov said.

*Taxes supposing that you are single and social security costs supposing that you have born after 1961

By the way, there are Bonuses which are mandatory quarterly payments made by the employer to the employee which they sum up to €512,46 per year. Does anyone know if that payment is usually included in the salary offers?

I have a (maybe stupid) question about that :

Let's say my contract started in May 2012.

Will my income taxes start again at "0%" in May 2013 ?

Frediy wrote:

I have a (maybe stupid) question about that :

Let's say my contract started in May 2012.

Will my income taxes start again at "0%" in May 2013 ?

It has nothing to do with your contract. In fact, you can maybe have two partial time contracts with two companies. The tax year in Malta coincides with the calendar year, starting on 1 January and ending on 31 December

Lusco wrote:

By the way, there are Bonuses which are mandatory quarterly payments made by the employer to the employee which they sum up to €512,46 per year. Does anyone know if that payment is usually included in the salary offers?

No, it's not included (usually) since it's not company's cost and can be stopped tomorrow (with new government decision, for example)

arent these "bonuses" - the COLA payments...costs of living allowances

Spiridonov wrote:

Designs wrote:

income rate:

0 - 8,500     0     0   
8,501 - 14,500     0.15    1,275   
14,501 - 19,500     0.25    2,725   
19,501 and over     0.35    4,675


can any one explain the above to me?
if my salary in 15000 yearly,,,, how much tax i'll pay?
i can see there's a big deference between 14500 and 15000!
500 EUR can make a deference of the rate percentage.

From EUR 15,000 you will pay tax of 15,000*0.25 - 2,725 = EUR 1,025

Since your week salary is EUR 288.46, the SSC rate is 10% and total for the year 288.46*10%*52weeks = EUR 1,500

Net salary per month (15,000 - 1,025 - 1,500) / 12 = EUR 1,040

thank you for the explanation

Lusco wrote:

Frediy wrote:

I have a (maybe stupid) question about that :

Let's say my contract started in May 2012.

Will my income taxes start again at "0%" in May 2013 ?

It has nothing to do with your contract. In fact, you can maybe have two partial time contracts with two companies. The tax year in Malta coincides with the calendar year, starting on 1 January and ending on 31 December

Ok.

So does it mean that your tax income rate should start again from the first tax level on January every year ?

Because it hasn't been the case for me.

Lusco wrote:

I've got a calculator app for Maltese salaries and the numbers shown are exactly what Spiridonov said.

Hi Lusco,

Is this an online app or available as a download, would appreciate it if you could post the link.

Regards

Frediy wrote:

So does it mean that your tax income rate should start again from the first tax level on January every year ?

Because it hasn't been the case for me.

No. The tax rate calculated on the beginning of the year on the basis of annual salary.

In the example above with the gross annual of EUR 15,000 the income tax for the year will be EUR 1,025

So every month the tax will be withheld on the rate of 1,025/15,000=6.83%

hello everybody!i m erasmia and i live in greece.i m a nurse and i want to move in malta..i have no idea about the place there..could you please give me some basic informations about the life style and the lowest salary?what about the people where living there? are they friendly enough?you think it will be a good idea for me who i m too young to live at this place?there are many places to go around, hobbies to do and other stuff?what about the prices of the house's bills?

i will appreciate it a lot if you answer to me

friendly,erasmia

Minimum salary is EUR 4 per hour
Average salary is EUR 14,000 annually (from official statistic)
House bills depend on the consumption (obviously), but in average for 1-bedroom you will pay around 100 EUR / month

Spiridonov wrote:

Average salary is EUR 14,000 annually (from official statistic)

That stat is old. The last one I saw was €15,500

Rocking Ken wrote:

Lusco wrote:

I've got a calculator app for Maltese salaries and the numbers shown are exactly what Spiridonov said.

Hi Lusco,

Is this an online app or available as a download, would appreciate it if you could post the link.

Regards

It is an Android app called LiMP. You can download it for free from Google Play if you have Android.

Lusco wrote:

It is an Android app called LiMP. You can download it for free from Google Play if you have Android.

Thanks Lusco, will have a look tonight for it.

Spiridonov wrote:

Minimum salary is EUR 4 per hour
Average salary is EUR 14,000 annually (from official statistic)
House bills depend on the consumption (obviously), but in average for 1-bedroom you will pay around 100 EUR / month

i question that last stat...... 100e a month for a one bedroom flat - we dont pay anywhere near that for a large 3 bedroom apartment........3 registered consumers though - that would make a difference if you are paying DOMESTIC rates as opposed to RESIDENTIAL - they are considerably different

toonarmy9752 wrote:

Spiridonov wrote:

Minimum salary is EUR 4 per hour
Average salary is EUR 14,000 annually (from official statistic)
House bills depend on the consumption (obviously), but in average for 1-bedroom you will pay around 100 EUR / month

i question that last stat...... 100e a month for a one bedroom flat - we dont pay anywhere near that for a large 3 bedroom apartment........3 registered consumers though - that would make a difference if you are paying DOMESTIC rates as opposed to RESIDENTIAL - they are considerably different

Of course, with 3 registered person you have approx 60% of the "normal" bill.

But I am sure on 99% that Erasmia will be not registered in the rental apartment, at least for the first 6-12 months.

Spiridonov wrote:

toonarmy9752 wrote:

Spiridonov wrote:

Minimum salary is EUR 4 per hour
Average salary is EUR 14,000 annually (from official statistic)
House bills depend on the consumption (obviously), but in average for 1-bedroom you will pay around 100 EUR / month

i question that last stat...... 100e a month for a one bedroom flat - we dont pay anywhere near that for a large 3 bedroom apartment........3 registered consumers though - that would make a difference if you are paying DOMESTIC rates as opposed to RESIDENTIAL - they are considerably different

Of course, with 3 registered person you have approx 60% of the "normal" bill.

But I am sure on 99% that Erasmia will be not registered in the rental apartment, at least for the first 6-12 months.

yes id tend to agree - especially with the id/residency farce as it is at the moment

Hi there, I'm new to this forum and I'm going to live in Malta soon. I went there last year and I really loved this country, now I'd like to find a seasonal job as receptionist in the hotels. I'm Italian motherlanguage, I do speak a fluent English and French.
I worked as receptionist in many companies and in a travel agency too. Which is the average salary for this category? Is that tax included?

Thanks

Hi, I have read through the majority of this thread and notice a common theme, in that Malta can be as cheap or as expensive as you want it to be ..... is this the case?

Someone told me that 3K (Euros) would give a comfortable lifestyle, but to be fair that is way over what we have budgeted for on a monthly basis, we are looking at about 1200 Euros a month .... and as we land on Tuesday 16th April to start our new life would appreciate some clarification on how much, on average, do people spend in a month to live a retired life in Malta

Many thanks

Dorne & Charlie

it will largely depend on what sort of lifestyle you wish to lead - type of accomodation required, area you wish to live, nights out/dinners out, how often, a comfy home, running a car, appliances required effect bills, whether you smoke or not, what you wish to do to fill your time.....lots of things affect the budget.