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: