Based on 14.7 million tax returns for 2018-19, the ATO has revealed Australia’s top-earning professions and the country’s richest suburbs, with Sydney unsurprisingly snagging a majority of the top spots.
According to the ATO, Sydney’s Double Bay was Australia’s richest suburb, with average taxable income reaching $202,541.
In close second was Melbourne’s Hawksburn and Toorak, where the average taxable income stood at $201,926.
Sydney’s postcode 2027, which includes Darling Point, Edgecliff, HMAS Rushcutters and Point Piper, boasted an average income of $199,842, while coastal 2030, home to Dover Heights, HMAS Watson, Rose Bay North, Vaucluse and Watson Bay, stood at $197,906.
Also featured in the top 10 were Sydney’s Bellevue Hill, Mosman and Northbridge.
Australia’s top 10 postcodes
| Postcode | Suburb name | Individuals no. |
Average taxable income or loss |
|
|
2028 |
NSW |
DOUBLE BAY |
3,573 |
202,541 |
|
3142 |
VIC |
HAWKSBURN, TOORAK |
10,054 |
201,926 |
|
2027 |
NSW |
DARLING POINT, EDGECLIFF, HMAS RUSHCUTTERS, POINT PIPER |
6,051 |
199,842 |
|
2030 |
NSW |
DOVER HEIGHTS, HMAS WATSON, ROSE BAY NORTH, VAUCLUSE, WATSONS BAY |
9,869 |
197,906 |
|
2025 |
NSW |
WOOLLAHRA |
5,252 |
183,417 |
|
6011 |
WA |
COTTESLOE, PEPPERMINT GROVE |
6,484 |
179,403 |
|
3944 |
VIC |
PORTSEA |
456 |
175,356 |
|
2023 |
NSW |
BELLEVUE HILL |
7,404 |
173,287 |
|
2088 |
NSW |
MOSMAN, SPIT JUNCTION |
20,303 |
171,144 |
|
2063 |
NSW |
NORTHBRIDGE |
4,393 |
168,940 |
As for the top-earning professions, surgeons topped the ladder with an average taxable income of $394,303, followed by anaesthetist with $386,065 and internal medicine specialists at $304,752.
In fact, healthcare workers represented the majority of the top 10 highest-earning professions.
Financial dealers ranked fourth with average earnings of $275,984, followed by psychiatrists with $235,558.
Mining engineers also made the top 10, with average earnings of $184,507, as did chief executive officers or managing directors with earnings of $164,896.
Australia’s top 10 professions
|
Professions |
Individuals no. |
Average taxable income or loss |
|
2535 Surgeon |
4,150 |
394,303 |
|
2532 Anaesthetist |
3,412 |
386,065 |
|
2533 Internal medicine specialist |
9,559 |
304,752 |
|
2222 Financial dealer |
4,720 |
275,984 |
|
2534 Psychiatrist |
3,001 |
235,558 |
|
2539 Other medical practitioners |
28,404 |
222,933 |
|
2712 Judicial or other legal professionals |
3,866 |
188,798 |
|
2336 Mining engineer |
8,856 |
184,507 |
|
1111 Chief executive officer or managing director |
190,386 |
164,896 |
|
1332 Engineering manager |
25,578 |
159,940 |
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