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Here are Australia’s richest postcodes

·2-min read
Australia's Prime Minister Malcolm Turnbull's Point Piper mansion, worth a reported 50 million Australian dollars (37.3 million USD), is guarded by police officers after a small group of kayakers landed on a small beach nearby protesting against what they say is government inaction on global warming. (Source: WILLIAM WEST/AFP via Getty Images)
Australia's Prime Minister Malcolm Turnbull's Point Piper mansion, worth a reported 50 million Australian dollars (37.3 million USD), is guarded by police officers after a small group of kayakers landed on a small beach nearby protesting against what they say is government inaction on global warming. (Source: WILLIAM WEST/AFP via Getty Images)

Australia’s wealthiest taxpayers apparently like to live in the same area, typically by the harbour or the beach.

According to new data about the 2017-18 financial year released on Friday by the Australian Taxation Office, Sydney’s harbourside suburb Double Bay was home to the highest-earning Aussies, with the average taxable income at $242,428 per taxpayer.

Coming in second place were the suburbs of Darling Point, Edgecliff, Rushcutters Bay and Point Piper, with taxpayers here earning an average of $198,828.

Inner city Melbourne suburbs of Toorak and Hawksburn ($196,816) came in equal third place, followed by East Melburnians earning an average of $185,437 per taxpayer.

Perth’s beachside suburbs of Cottesloe and Peppermint Grove ($167,090) also made the top 10 list.

Australia’s highest earners

Former Prime Minister Malcolm Turnbull resides in Point Piper, and during his term copped the moniker ‘Mr Harbourside Mansion’.

SYDNEY, AUSTRALIA - JULY 03:  Prime Minister Malcolm Turnbull leaves his home in Point Piper on July 3, 2016 in Sydney, Australia. (Photo by Ryan Pierse/Getty Images)
SYDNEY, AUSTRALIA - JULY 03: Prime Minister Malcolm Turnbull leaves his home in Point Piper on July 3, 2016 in Sydney, Australia. (Photo by Ryan Pierse/Getty Images)

Most of Australia’s recent prime ministers have come from wealthier electorates, with only Julia Gillard and Paul Keating hailing from lower-income electorates.

ATO data also revealed that anaesthetists generally were the nation’s highest-earners, with a median taxable income at $366,387, with surgeons not too far behind at $302,583.

Internal medicine specialists earn just over a quarter of a million dollars, while psychiatrists make $201,177 on average.

Mining engineers make $151,942, financiers make $147,034 and lawyers earn $102,192.

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