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ATO reveals 10 richest and poorest postcodes in Australia

Seven of the richest postcodes were located in Sydney, with Double Bay taking out the top spot.

Double Bay
The richest postcodes in Australia have been revealed, with some wealthy residents raking in an average of $354,308 in one area. (Source: Getty/AAP)

The Australian Taxation Office (ATO) has revealed the top 10 richest postcodes in Australia. Sydney dominated the list, with residents earning more than $350,000 on average in one area.

The Sydney harbourside suburb of Double Bay was again crowned Australia’s richest postcode, living up to its nickname ‘Double Pay’. The average resident earned more than $354,308 for the 2021-22 income year, which is more than four times the average income of $72,327.

Perth’s Cottesloe and Peppermint Grove, which share the postcode 6011, was second on the list with an average income of $295,283. Cottesloe’s most high-profile resident is billionaire mining magnate Andrew ‘Twiggy’ Forrest, the former CEO of Fortescue Metals Group.

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The next highest earners were in Sydney harbourside suburbs Darling Point, Edgecliff and Point Piper, which have the postcode 2027, with an average income of $269,777. Notable residents include former Prime Minister Malcolm Turnbull who shares a waterfront mansion in Point Piper with his wife Lucy.

The ATO also revealed the most lucrative professions, with surgeons retaining the top spot earning an average of $460,356.

This was followed by anaesthetists with average earnings of $431,193, followed by financial dealers at $373,733 who were the only non-medical professionals to break into the top six.

The average taxable income in 2021-22 was $72,327. However, the median income (which strips out very high and low earners) was $53,041.

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  1. Double Bay (NSW - 2028): $354,308

  2. Cottesloe, Peppermint Grove (WA - 6011): $295,283

  3. Darling Point, Point Piper, Edgecliff (NSW - 2027): $269,777

  4. Toorak, Hawksburn (VIC - 3142): $266,020

  5. Bellevue Hill (NSW - 2023): $245,728

  6. Vaucluse, Dover Heights, Rose Bay, Watsons Bay (NSW - 2030): $239,974

  7. Portsea (VIC - 3944): $221,867

  8. Palm Beach, Coasters Retreat, Currawong Beach, Great Mackerel Beach (NSW - 2108): $216,262

  9. Hunters Hill, Woolwich (NSW - 2110): $215,456

  10. Woollahra (NSW - 2025): $215,123

The ATO data also revealed the postcodes with the lowest-income earners.

Students studying at The University of Newcastle’s campus in Callaghan, with the postcode 2308, had the lowest average incomes of $20,878.

The second lowest postcode included the University of NSW area, postcode 2052, with an average income of $20,892.

  1. Callaghan, Newcastle University (NSW - 2308): $20,878

  2. University of NSW (NSW - 2052): $20,892

  3. Copeville, Galga, Mantung, Mercunda, Perponda (SA - 5308): $21,049

  4. Marshlands, Mondure (QLD - 4611): $27,461

  5. Glenmorgan, Tellba (QLD - 4423): $27,875

  6. Jericho (QLD - 4728): $28,889

  7. Bellbird Creek, Bemm River, Cabbage Tree Creek, Club Terrace (VIC - 3889): $29,050

  8. Muttaburra (QLD - 4732): $30,307

  9. Borrika, Halidon, Mindarie, Sandalwood (SA - 5309): $30,788.

  10. Bellata, Jews Lagoon, Millie (NSW - 2397): $31,972

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