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10 wealthiest and poorest Aussie suburbs revealed

·2-min read
View of Sydney suburb Double Bay taken from the water and image if a tractor in a field in regional NSW
ATO data has revealed which suburbs have the highest household income in Australia (Source: Getty)

New South Wales is responsible for both the richest Aussies and the poorest with the east Sydney suburb of Double Bay taking out the top spot and drought-stricken rural NSW at the bottom.

New data from the Australian Taxation Office (ATO) found seven of the country’s highest earning postcodes were in Sydney. The remaining three are located in Melbourne and Perth.

Double Bay and Melbourne’s Tookak have the highest earning households in the country - both with an average taxable income over $200,000 a year.

The only suburb outside of Sydney or Melbourne to make it into the top 10 was Perth’s Cottesloe and Peppermint Grove, which sits at number six.

Infographic showing wealthiest Aussie suburbs
(Source: ATO)

Meanwhile at the other end of the scale, six of the lowest-earning postcodes were in regional NSW for the 2018-19 tax year with the area suffering the most from droughts.

Those in regional NSW and QLD were the nations lowest income earners for the 2018-19 tax year. Burren Junction and Drildool are listed as the poorest suburbs according to the ATO, with the figures showing zero income.

In fact, Aussies in the area lost $10,000 in income on average over the year.

Meanwhile, Rowena in NSW was the second lowest earner on average in the country, with those who live there earning less than $1,000 for the year.

How much tax do the rich pay?

Actually, quite a bit according to the data.

Those in the highest tax bracket, which is the Aussies earning over 180,000 a year, made up only 3.5 per cent of the Australian population but contributed about 31.5 per cent of total tax revenue.

Infographic showing individual net tax bracket data
(Source: ATO)

However, despite that being somewhat good news the top earners pay less tax than the second top earners - those who earn between $90,000 and $180,000 but contribute 35.9 per cent of Australia’s tax revenue - which could cause the gap between the super wealthy and everyone else to grow if the trend continues.

The ATO data also revealed the highest paying jobs in the country, with those in the medical profession taking out the top spots.

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