The Australian Taxation Office (ATO) has released its annual Taxation Statistics report for 2016-17, identifying the nation’s richest and poorest taxpayers, including among other things their jobs and suburbs.
The report presents an overview of the 16.5 million income tax returns for 13.9 million individuals and 970,000 companies in 2017, as well as super funds, partnerships and trusts.
The statistics cover areas such as average taxable income by occupation and State.
The ATO identified the profession with the highest income as surgeons (pictured), with a national average taxable income of $394,866.
Anaesthetists filled the second spot with an average income of $367,343 and internal medicine specialists came in third with an average income of $299,378.
Out of the 1,100 or so occupations recorded, there were 72 where females had an average taxable income higher than males, including authors, futures traders, magistrates, professional surfers and illustrators.
“The highest average taxable income of $230,330 was recorded in Sydney’s 2108 postcode which covers Coasters Retreat, Currawong Beach, Great Mackerel Beach and Palm Beach,” the ATO said.
“Melbourne’s 3142 postcode, covering Toorak and Hawksburn, was the second highest nationally, with an average taxable income of $193,904.”
The ATO research found the lowest earning areas were situated in NSW, with postcode 2308, covering Newcastle University and Callaghan, reporting an average taxable income of $20,589.
Queensland was home to five of the bottom 10 postcodes with 4611 recording the second lowest average income nationally of $23,225.
“Australians reported donating $3.5 billion with an average gift size, for those who did donate, of $770,” the ATO said.
“The most generous State was Western Australia, with 30 per cent of residents claiming an average deduction of $1,190.
“Northern Territory residents recorded the lowest charitable donations, with 34 per cent of residents claiming an average deduction of $405.”
The ATO’s report, Taxation Statistics 2016-17, can be accessed at this PS News link.
