2015-16 Tax Stats Released

The Australian Taxation Office (ATO) has released the annual Taxation Statistics report for the 2015-16 financial year. The report presents an overview of 16 million 2016 income tax returns for 13.5 million individuals, 940,000 companies, as well as superannuation funds, partnerships, and trusts.

Other parts of the taxation system are also included in a user-friendly format including data on GST, excise, FBT, pay as you go, and the superannuation system.

The statistics cover areas such as average taxable income by occupation. The profession with the highest income was Surgeon with an average taxable income of $393,467. Anaesthetists, Internal Medicine Specialists, Psychiatrists, and Other Medical Practitioners filled the second, third, fifth, and sixth spots on the list.

Out of almost 1,200 occupations recorded, there were less than 100 occupations where females had an average taxable income higher than males. This included a receptionist, school teacher, beautician, and goat farmer.

The highest average taxable income of $192,500 was recorded in Sydney’s 2027 postcode which covers Darling Point, Edgecliff, HMAS Rushcutter, and Point Piper. Melbourne’s 3142 postcode, covering Toorak and Hawksburn, was the second highest nationally with an average taxable income of $190,777.

New South Wales was home to the lowest earning area. Postcode 2387, covering Bulyeroi and Rowena in far North East NSW, had an average taxable income of around $12,000. Victoria has five of the bottom 10 postcodes with 3482 recording the second lowest average incomes nationally.

One in three Australians claimed a deduction for a charitable gift or donation. In total, Australians reported donating $2.8 billion with an average gift size of $211. The ACT is the most generous territory with 41% of residents claiming a deduction followed by 37% of Victorian and 36% of Northern Territorians.

Additional information by state or territory is also available.

Taxation Statistics 2015-16 is available:

ato.gov.au/About-ATO/Research-and-statistics/Our-statistics/Taxation-statistics/

What Our Clients Think

Bottom line Control, headed by Malcolm Chilman, have been by tax agent/accountant/book keeper for more than 10 years now, and I have nothing but praise for the efficient and cost effective way they go about their work. I have recently given them my SMSF as well and am impressed by the meticulous way he goes about the process of staying within the lines of the over-complex Superannuation law.

Whether it is simple BAS bookkeeping or complex questions of tax law, Malcolm is always there to help. And if he does not know some intimate detail of our almost incomprehensible tax process, he knows where to find the answer.

Every business has the occasional need for a quick answer, so one of the characteristics that I appreciate here, is Malcolm's ready availability, by phone and email.

PA Apartments - Business Accountant Client

Byron Scott

Business Owner & Investor
PA Apartments
40 Wholseley St, Woolloongabba, Qld 4102
Phone: (07) 3891 1742 | Email: info@PAapartments.com.au

Thank you for your support, and assistance over the past several years. I personally feel that from our cooperative services that Ram Automotive has been able to grow toward the sustainable company of which is today.

Bottom Line Control has given myself a great understanding of the companies finances, and also through ongoing fiscal performance meetings. Now knowing what Ram Automotive can expect for the future.

I look forward to an ongoing relationship with Malcolm and Bottom Line control, to secure our future within our community.

Ram Automotive  - Business Accountant Client

Matthew Katterns

Proprietor of Ram Automotive Coolum Beach

We changed all of our financials over to Bottom Line a few years ago and have been quite impressed with the service and advice we have received. Nothing is too much to ask of them. Thank you to Malcolm and staff for being there for us.

Rex and Turtle- Business Accountant Client

Wayne & Penny Rex

Business owners and Property Developers

We switched to Bottom Line Control after realizing that our previous accountant was giving us incorrect advice and charging a premium for it.  We have now been using Bottom Line Control for several years and have found Malcolm to be thorough and reasonably priced.  He always finds ways to save money on our taxes. Malcolm and his staff are highly responsive and very easy to work with.  We highly recommend.

Equathon Horse Riding - Business Accountant Clienti

Alex & Rebecca Watson

Equathon Horse Riding
PO Box 301 Noosa Heads, QLD 4567
Phone: (07) 5474 2665

Thanks Malcolm for saving me the stress of sorting through all the issues of self-employment, and the many confusing deductions and tax items associated with that. Although I was extremely late in lodging my tax return, it was not a problem for you, and you managed to get me a healthy refund when I was sure I was going to have a bill! I will certainly be using your services in the future and have already been recommending you to others.

Kim Anderson  - Business Accountant Client

Kim Anderson

Freelance Journalist (The Anderson Outlook)

I have found Bottom Line Control to be very attentive to the needs of the business and reacts in a speedy manner, getting the job done.

Ricks Pies - Business Accountant Client

Graham Martin

Founder of “Dough Fusion” chain of bakeries and Rick’s Artisan Pies and Sourdough