Have you ever wondered how your earnings compare to those of other Australians? I think we all do when we head to work on Monday morning.
Well, the Australian Taxation Office (ATO) statistics for the 2020-21 year show the average taxable income for Australians was $68,298, marking a 6.9% increase from the previous year.
But averages don’t really tell you all that much.
Fortunately, the ATO’s data offers a more detailed percentile breakdown of taxable incomes.
From this, we learn that:
* 117,011 taxpayers earned above $377,553 in 2020-21, putting them in the top 1% of earners in Australia
* Just over 1.17 million Australians earned between $136,956 and $377,552, putting them within the top 10% of earners
ATO figures also reveal that the highest-earning postcodes are predominantly in Sydney, with seven of the top ten suburbs located there. Double Bay taking the number one spot probably explains why chef Neil Perry is selling $25 salmon bagels at Baker Bleu.
