ATO reveals nation’s highest earning areas

Residents from the Perth suburbs of Cottesloe and Peppermint Grove have been revealed to have the highest average income in the nation, according to new tax figures.

Data from the Australian Taxation Office has shown residents from the 6011 postcode had the highest taxable income for 2019/20, coming in at $325,343.

However, affluent parts of Sydney have dominated the list, making up eight of the top 10 postcodes.

The 2027 postcode of Darling Point, Edgecliff and Point Piper in Sydney came in second with $205,957, followed by the 2023 postcode which takes in Bellevue Hill in Sydney’s east with $195,204.

The postcode which takes in Watsons Bay and Vaucluse came in fourth, while Hawksburn and Toorak in Melbourne came in fifth.

The ATO also revealed surgeons had the highest average income of any other profession, earning $406,068 a year.

Anaesthetists came in second with $388,814, followed by internal medicine specialists with $310,848, financial dealers on $279,790 and psychiatrists on $252,691.

Medical practitioners, judicial or legal professionals, mining engineers, engineering managers and financial investment advisors rounded out the top 10 professions by income.

During the 2019/20 financial year, the average income for Australians was $63,882, up 2.13 per cent on the previous year.

The ATO also revealed men were paid on average $74,559, compared with $52,798 for women.

The average Australian paid just under $20,000 in tax that year.

However, the data revealed 60 people who earned more than $1 million have paid no tax for the 2019/20 financial year.

Andrew Brown
(Australian Associated Press)