Living Expense Categories- February 2020
Living Expense Categories- February 2020
This page contains a list of the standard categories for Living Expenses and Other Commitments that are incorporated into the LIXI2 Data Standards as at 17th February 2020. Note that these changes were introduced on the 16th September 2019 in the LIXI CAL 2.6.22 release. Another blog post presents a review of the current state showing how closely each of the LIXI Categories map to the major lender’s categories based on information available in the public domain. A blog post covering some of the background to the collaborative work undertaken to decide upon these standard categories here.
| Category | Description | HEM Treatment |
|---|---|---|
| Groceries | Groceries (food and non-alcoholic beverages), toiletries and cleaning products. | In HEM |
| Childcare | Childcare including nannies and non-compulsory pre-school. | In HEM |
| Public or Government Primary and Secondary Education | Public or government, primary and secondary school tuition, school and sports fees including compulsory kindergarten/reception/pre-primary/prep. | In HEM |
| Clothing and personal care | Clothing, footwear, personal care products, cosmetics, hair services and accessories (including travel goods, handbags, umbrellas, wallets, and baby-goods) for men, women, children and infants, including purchases, repairs and alterations. | In HEM |
| Telephone, internet, pay TV and media streaming subscriptions | Telephone accounts (home and mobile), internet, pay TV and media streaming subscriptions (such as Netflix and Spotify). | In HEM |
| General Basic Insurances | General basic insurances include ambulance, car (not recreation vehicles), travel, and personal belongings insurance. Excludes property (house and contents), health, sickness and personal accident, life, income protection and pet insurance. | In HEM |
| Higher Education, Vocational Training and Professional Fees | Higher education and vocational training fees (including TAFE, business college, drama, music, dance) excluding HECS, and professional fees (union dues, professional association subscriptions, legal, accountant and tax agent fees). | In HEM |
| Medical and health | Medical and health care services including GPs, specialists, physiotherapists, chiropractors, and opticians. Medicines, pharmaceuticals, prescriptions, glasses, purchase or hire of therapeutic appliances and equipment, hospital charges, nursing home charges. Excludes health insurance and ambulance insurance. | In HEM |
| Pet Care | Pet food, grooming, minding services, care products, health products, veterinarian fees. | In HEM |
| Transport | Public transport, taxis, ride-sharing and non-holiday domestic airfares (excludes overseas airfares). Running costs for essential vehicles including fuel, servicing, repairs, parking, tolls (excludes insurance) and registration of motor vehicles (excludes recreational vehicles such as caravans, trailers, motorcycles, boats and aircraft). | In HEM |
| Recreation and entertainment | Meals in restaurants, hotels and clubs, fast food and takeaway including coffee. Alcoholic beverages and tobacco products. Purchase, hire, repair of recreational personal belongings including electronics, computers, games consoles, AV equipment, cameras. Toys, hobbies, stationery, arts, crafts, sports, camping, fishing and recreation equipment including musical instruments, accessories and lessons. Non-subscription TV, video, games, and audio content, books, newspapers, magazines (including physical material and digital content). Recreation, gym, and health and fitness studios fees, court hire, sports lessons, admission fees and tickets (sports, theatre, gallery, museum, music events). Domestic holidays (fares, fuel, accommodation, theme parks, zoos tours). Recreational gambling, including lottery-type games, scratch cards, poker machines, club and casino gaming, and sports betting. Excludes travel insurance. | In HEM |
| Primary Residence Running Costs | Costs associated with the primary residence, either owned or rented. Includes rates, water, sewage, repairs and maintenance, electricity, gas, heating oil and wood for fuel, purchase, hire and repair of household and outdoor furnishings and equipment, furnishings, floor coverings, linen, tableware, gardening tools, power tools, electrical, lights, trees, shrubs, plants, pool chemicals, home insurance, contents insurance and appliance insurance. Excludes body corporate fees, strata fees and land tax. | In HEM |
| Body Corporate Fees, Strata Fees and Land Tax on Owner Occupied Principal Place of Residence | Body corporate fees, strata fees and land tax on owner occupied principal place of residence. Excludes investment properties, secondary residences, and properties maintained for other purposes such as holiday properties or residences maintained for parents or children. | Not in HEM |
| Sickness and Personal Accident Insurance, Life Insurance | Sickness and personal accident insurance, life insurance | Not in HEM |
| Private Schooling and Tuition | Tuition fees, school fees and sports fees for private schooling, including independent schools (Catholic or non-Catholic) and private tuition including compulsory age kindergarten/reception/pre-primary/prep. | Not in HEM |
| Investment Property Running Costs | Costs associated with any property owned for investment purposes. Includes body corporate fees, strata fees, land tax, property management fees, rates, water, sewage, repairs and maintenance, electricity, gas, heating oil and wood for fuel, purchase, hire and repair of household and outdoor furnishings and equipment, furnishings, floor coverings, linen, tableware, gardening tools, power tools, electrical, lights, trees, shrubs, plants, pool chemicals, landlords insurance, home insurance, contents insurance and appliance insurance. | Not in HEM |
| Health Insurance | Health insurance including hospital, medical and dental insurance (excludes separate ambulance insurance). | Not in HEM |
| Secondary Residence Running Costs | Costs associated with any secondary residence, either rented or owned for non-investment purposes, such as a holiday property that is not rented to generate income, or a property that family members (parents or children) are allowed to live in rent-free. Includes body corporate fees, strata fees, land tax, property management fees, rates, water, sewage, repairs and maintenance, electricity, gas, heating oil and wood for fuel, purchase, hire and repair of household and outdoor furnishings and equipment, furnishings, floor coverings, linen, tableware, gardening tools, power tools, electrical, lights, trees, shrubs, plants, pool chemicals, landlords insurance, home insurance, contents insurance and appliance insurance. | Not in HEM |
| Other | Other ongoing or recurring items not included within the other categories including, but not limited to pet insurance, insurance not elsewhere classified, registration, insurance and operation of recreational vehicles (such as caravans, trailers, motorcycles, boats and aircraft), overseas holidays, gifts, jewellery, household services including cleaning, gardening, housekeeping, security and pest control services. | Not in HEM |
| Rent | Rent on primary residence. | Not in HEM |
| Board | Board paid. | Not in HEM |
| Child and Spousal Maintenance | Maintenance for either dependent or non-dependent children, and spousal or de facto partner maintenance. | Not in HEM |
Written by:
Shane Rigby, LIXI Limited CEO
First Published: February 17, 2020
Shane Rigby, LIXI Limited CEO
First Published: February 17, 2020