25 September 2023

Tax Office report finds rich and poor

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The Australian Taxation Office (ATO) has released its annual statistical report setting out the nation’s richest and poorest suburbs, highest and lowest paid workers and the most generous supporters of charities.

The ATO’s Taxation Statistics for 2015–16 is an overview of 16 million income tax returns for 13.5 million individuals, 940,000 companies, as well as superannuation funds, partnerships, and trusts.

The ATO said the statistics covered areas such as average taxable income by occupation, with surgeons having the highest average taxable income, at $393,467.

It said anaesthetists, internal medicine specialists, psychiatrists, and other medical practitioners filled the second, third, fifth, and sixth spots.

It said that of almost 1,200 occupations recorded, there were less than 100 where females had an average taxable income higher than males.

These included receptionist, schoolteacher, beautician, and goat farmer.

The ATO said the suburbs with the highest average taxable income of $192,500 were in Sydney’s 2027 postcode, which covered Darling Point, Edgecliff, HMAS Rushcutter, and Point Piper.

It said Melbourne’s 3142 postcode, covering Toorak and Hawksburn, was the second highest nationally with an average taxable income of $190,777.

It also said NSW was home to the lowest earning area, postcode 2387, which covered Bulyeroi and Rowena in the far north-east.

It said one in three taxpayers claimed a deduction for a charitable gift or donation, with the ACT where 41 per cent of residents did so, was the most generous, followed by 37 per cent of Victorians and 36 per cent of Northern Territorians.

The Offices full report can be accessed at this PS News link.

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