Retirement Income

How much does the “average” Aussie earn?

How much does the “average” Aussie earn?

New data from the Australian Tax Office has revealed the average Australian takes home just over $60,000 a year.

Data from the 2018-2019 financial year shows the average salary was $63,085 for Australians who submitted tax returns, an increase of $1634 from the year before.

The median reported salary - which paints a more accurate picture of “average” Aussies without being pulled upward by millionaires - for 2018-2019 wass $52,732.

The data also showed vast differences between the earning power of men versus women.

In 2018-19, the median taxable income for Australian men was $55,829 and $40,547 for women.

Australians also paid a median net tax of more than $11,000 for the same financial year.

When analysed by location, NSW was found to be home to the majority of Australia’s high-income earners.

The country’s wealthiest suburb was Double Bay in Sydney, with an average taxable income of $202,598.

Close behind was the suburb of Toorak in Melbourne, with individuals earning an average income of $201,926.

NSW and Victoria made up the majority of the top 10 wealthy suburbs. 

Cottesloe in Western Australia was the only exception, coming in sixth with an average income of $179,376.

The top-paying professions on average were found to be surgeons ($394,303), with anaesthetists ($386,065), internal medicine specialists ($304,752), financial dealers ($275,984), engineers ($184,507) and chief executive officers ($164,896) in the top ten.

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