The richest and poorest suburbs in Australia have been revealed by the Australian Taxation Office, according to the average salary per postcode – and the variation is staggering.
Sitting at peak position in the 2015-16 stats is Sydney’s 2027 postcode, which covers the coveted eastern suburbs of Darling Point, Edgecliff and Prime Minister Malcolm Turnbull’s local Point Piper.
The average taxable income for that area was a cool $192,500 – the topmost in Australia, News.com.au reports.
Data released by the Australian Taxation Office has revealed the richest and poorest suburbs in the country, with Sydney suburb Point Piper’s 2027 postcode coming in at the top
Suburbs on the bottom end of the ladder included Bulyeroi and Rowena, both in New South Wales, and Watchem in Victoria (pictured)
At the bottom end of the ladder are the north-eastern New South Wales suburbs of Bulyeroi and Rowena, both covered by the 2387 postcode and grossing an average salary of $12,004.
Those figures were gathered from a total 5995 taxpayers in the top postcode, and 135 in the lowest.
The richest and poorest postcodes were both located in New South Wales, while the second-highest and second-lowest both located in Victoria
The statistics also revealed Australia’s top-earning occupations, with surgeons, anaesthetists and internal medicine specialists coming in at the top tiers.
‘Perhaps unsurprisingly, the medical profession does dominate the top income categories, and the eastern suburbs of Sydney dominate the postcodes,’ said ATO second commissioner Andrew Mills.
‘Although one thing that did strike me was that the highest and lowest postcodes are in NSW.’
ATO second commissioner Andrew Mills said it was ‘unsurprising that the eastern suburbs of Sydney dominate the postcodes’
Victoria, comparatively, was home to the second-highest and second-lowest income areas – split between the Watchem and Morton Plains postcode of 3482 and the Brim postcode of 3391, respectively.
The state also had five out of the bottom 10 postcodes.
‘The interesting thing to observe there is in the previous 2014-15 year, [the bottom] was dominated by Queensland, they had seven out of the 10,’ Mr Mills said.
In the 2015-16 stats, only one Queensland postcode made the bottom ten.
Only one Queensland postcode made the bottom 10 – a stark contrast to the seven out of 10 in the previous year’s stats
He also cautioned against reading too far into these kind of statistics, however, as there could sometimes be ‘odd things happening’.
‘One of the problems with that data is it often looks at the headline of gross income,’ he said.
‘If you’ve got a sole trader, even someone who’s running a small business [such as a] mechanic, they could have $1 million gross income but you have wages, costs and so on, so the taxable income might be low.
‘Don’t jump to conclusions,’ he said.
‘That’s a very messy story. So for this tax season and in subsequent years [we will] start breaking out a bit more info for added granularity.’
The Tax Stats are an overview of 16 million income tax returns for 13.5 million individuals, 940,000 companies, as well as superannuation funds, partnerships and trusts lodged for 2016.
Highest incomes by postcode
• $192,500 — 2027 (NSW: Darling Point, Edgecliff, Point Piper)
• $190,777 — 3142 (Victoria: Hawksburn, Toorak)
• $182,829 — 2030 (NSW: Dover Heights, Rose Bay North, Vaucluse)
• $180,412 — 2023 (NSW: Bellevue Hill)
• $167,266 — 3944 (Victoria: Portsea)
• $161,360 — 2088 (NSW: Mosman, Spit Junction)
• $159,736 — 2063 (NSW: Northbridge)
• $150,230 — 6011 (Western Australia: Cottesloe, Peppermint Grove)
• $147,757 — 2110 (NSW: Hunters Hill, Woolwich)
• $146,521 — 2028 (NSW: Double Bay)
Lowest incomes by postcode
• $12,004 — 2387 (NSW: Bulyeroi, Rowena)
• $15,411 — 3482 (Victoria: Watchem, Watchem West, Morton Plains)
• $18,291 — 4732 (Queensland: Tablederry, Muttaburra)
• $21,540 — 3889 (Victoria: Errinundra, Manorina, Club Terrace)
• $22,119 — 2308 (NSW: Newcastle University, Callaghan)
• $22,520 — 3542 (Victoria: NSW: Tittybong, Cokum, Lalbert)
• $23,641 — 2386 (NSW: Burren Junction, Nowley, Drildool)
• $23,881 — 5306 (South Australia: Wynarka)
• $24,261 — 3391 (Victoria: Brim)
• $24,641 — 3237 (Victoria: Weeaproinah, Wyelangta, Yuulong)