The Australian Taxation Office (ATO) has released the annual Taxation Statistics report for the income year 2016–17. The report presents an overview of 16.5 million 2017 income tax returns for 13.9 million individuals, 970,000 companies, as well as super funds, partnerships and trusts.
As part of this year’s tax stats release, we’ve also included data of individuals with private health insurance. Other parts of the taxation system are also covered in a user–friendly format including data on Goods and Services Tax, excise, Fringe Benefits Tax, Pay As You Go, and the superannuation system.
The statistics cover areas such as average taxable income by occupation and state. The profession with the highest income was surgeons, with a national average taxable income of $394,866. Surgeons in Tasmania earned the highest income at $502,350. Anaesthetists in the Australian Capital Territory filled the second spot with an average income of $391,157 and internal medicine specialists in Queensland came in third with an average income of $344,413.
Out of around 1,100 occupations recorded, there were 72 occupations where females had an average taxable income higher than males. This included authors, future 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. Melbourne’s 3142 postcode, covering Toorak and Hawksburn, was the second highest nationally with an average taxable income of $193,904.
New South Wales was home to the lowest earning area. Postcode 2308, covering Newcastle University and Callaghan, had an average taxable income of $20,589. Queensland had five of the bottom 10 postcodes with 4611 recording the second lowest average income nationally of $23,225.
Australia continues to be a charitable nation. In total, Australians reported donating $3.5 billion with an average gift size, for those who did donate, of $770. The most generous state was Western Australia, with 30% of residents claiming an average deduction of $1,190. Northern Territory residents recorded the lowest charitable donations, with 34% of residents claiming an average deduction of $405.
For more information see Taxation statistics 2016–17.