The Australian Taxation Office (ATO) has released its annual Taxation Statistics report for the 2022–23 year. The report contains data extracted from tax returns and related schedules, as well as other information provided to the ATO.
Taxation Statistics provides detailed and valuable insights into the income tax position of individuals, companies, trusts, super funds and partnerships in Australia for the 2022-23 income year. The data generally follows trends from previous years, with the average taxable income and average superannuation account balance rising, reflecting a return to conditions from before COVID-19.
This report also includes information relating to the 2023–24 financial or fringe benefits tax year, including for goods and services tax (GST), excise and fuel schemes and fringe benefits tax (FBT).
What’s new in the 2022-23 data
This year there are three new data sets:
- A new table splitting company data by entity size and taxable income or loss range.
- Additional data for GST, including monthly GST, wine equalisation tax (WET), and luxury car tax (LCT) data.
- Additional data for excise, showing detailed historical excise collection figures from the Department of Home Affairs.
Points of interest from the 2022-23 data
- The total tax revenue collected by the ATO for 2022–23 was $577.4 billion:
- 51.6% came from individual income tax ($298 billion)
- 24.2% came from companies ($140 billion)
- 14.2% came from GST ($81.7 billion)
- 4.4% came from excise ($25.4 billion)
- 4.2% came from super funds ($24 billion)
- 0.7% came from PRRT, LCT and WET ($4.2 billion)
- 0.7% came from FBT ($4.1 billion).
- Work related expenses accounted for 50% of total deductions claimed by individuals, with 10.3 million individuals claiming a total of $28.3 billion in work-related expenses – an average of $2,739 per person.
- The average superannuation account balance increased from $164,000 in 2021–22 to $173,000 in 2022–23.
- The postcode with the highest average taxable income ($279,712) was 2027 in the eastern suburbs of Sydney, NSW.
- Since reporting started in 2010–11, surgeons have remained the highest paid occupation with the 4,247 individuals reporting an average taxable income of $472,475 in 2022–23.
- Net tax from companies for the 2022–23 income year increased by 9.2% to $140 billion (compared to $128 billion in 2021–22).
- The biggest company tax liability came from the mining industry (39% of company net tax) with the industry’s net tax growing from $42.3 billion to $54.4 billion.
- Luxury car tax increased by 17.9% to $1,153 million while wine equalisation tax continued to remain stable.
For the full breakdown of the 2022–23 statistics, visit ato.gov.au/taxstats .
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