Australians may be bracing for tough news in next week's federal budget, but according to a new report by the OECD, compared with 35 other countries, life in Australia is actually very good.
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In the latest OECD How's Life? report, Australia is rated as above average in all of the 11 life dimensions examined, with the exception of one: work-life balance.
Australia is rated as at the top when it comes to governance and civic engagement, and close to the top when it comes to environmental quality and health status.
Australia also rates in the top 20 per cent when it comes to housing, personal security and jobs and earnings. It rates above average in education and skills, subjective wellbeing, social connections and income and wealth.
But it trails other OECD countries when it comes to work-life balance, languishing in the bottom 20 per cent.
The study found that Australian women dedicate 36 hours to household tasks a week and Australian men dedicate 28 hours.
This compares to the 32 hours spent by women in the broader OECD and the 21 hours spent by men.
The study also finds that the average Australian household has "generally been spared" by the global financial crisis, with real disposable income increasing 9 per cent between 2007 and 2011 - which is one of the largest increases in the OECD.
But the percentage of Australians satisfied with their lives only increased slightly, from 76 per cent to 77 per cent, over a similar time (from 2007 to 2012).
Despite Australia's high ranking in governance, Australians also recorded declining levels of trust in the way democracy works, with the percentage of Australians who trust the government dropping from 53 per cent to 46 per cent between 2007 and 2013.
