ATO reveals 10 richest and 10 poorest postcodes in Australia

New South Wales is a state of haves and have nots, according to the latest data released by the Australian Taxation Office (ATO).

The state boasts seven of the top 10 richest postcodes, based on the tax returns of 14.7 million Australians for the 2018-29 financial year, but also contains six of the 10 poorest postcodes in the country.

The ATO statistics show that the gap between the haves and the have nots in NSW is a city versus country divide.

Read more: Suburbs designed to make us ill

The seven richest NSW postcodes, including the richest overall postcode in Australia (Double Bay 2028), are all in Sydney, while many of its poorest postcodes included people living in drought-ridden regional areas (2386 Drildool, Burren Junction and 2387 Rowena).

Just two postcodes contained people with an average taxable income above $200,000 per year: Double Bay in Sydney ($202,598) and Hawksburn/Toorak in Melbourne ($201,926).

The only postcode not from NSW or Victoria to be represented in the top 10 richest postcodes was 6011 (Cottesloe/Peppermint Grove) in Western Australia, with an average taxable income of $179,376, putting it in sixth position.

Read more: Older Aussies rushing to cash in after Budget change

The poorest postcodes in Australia were exclusively the reserve of NSW and Queensland towns.

The average person living in Burren Junction/Drildool made a taxable loss of nearly $10,000 in the financial year 2018-19, the only postcode in the country where the average tax return contained a loss.

People in neighbouring Rowena fared better, but they still only made an average taxable income of $902 in that financial year.

All of the other eight postcodes that made up the 10 poorest postcodes at least had an average taxable income of more than $10,000.

Read more: How to make your home snug this winter

The ATO figures also contained some interesting figures on the top 10 earning professions around Australia.

If you thought CEOs or managing directors would be top of the list, you would be wrong. They came in ninth position, with an average taxable income of $164,896, although there were 190,386 people who claimed this job title.

The top three professions in Australia were all in the health sector, with surgeons coming out on top with an average taxable income of $394,303, ahead of anaesthetists ($386,065) and internal medical specialists ($304,752).

Financial dealers were in fourth position with an average taxable income of $275,984, while psychiatrists rounded out the top five with an average taxable income of $235,558.

Do you live in one of Australia’s richest or poorest suburbs? Where do you think your suburb fits into the list? Is it closer to the top or the bottom? Are you surprised by the top earning professions? Who do you think should be at the top? Why not share your thoughts in the comments section below?

If you enjoy our content, don’t keep it to yourself. Share our free eNews with your friends and encourage them to sign up.

Written by Ben Hocking

Ben Hocking is a skilled writer and editor with interests and expertise in politics, government, Centrelink, finance, health, retirement income, superannuation, Wordle and sports.

Leave a Reply

Beating the excuses not to exercise

Music good for brain activity