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Sydney's eastern suburbs house the nation's top income earners
Friday, 18 Mar 2016 13:18:45 | Thuy Ong
Sydney's Point Piper and Darling Point are the nation's highest income suburbs. (Domain.com.au)
The Australians with the highest taxable incomes live in the eastern Sydney suburbs of Darling Point and Point Piper, a new report from the Australian Taxation Office (ATO) shows.
In its Taxation Statistics 2013-14 report, the ATO found about 6,000 people filed tax returns in the richest postcode, 2027, and they earned an average of $200,015 per year.
The suburbs in this postcode sit within the Prime Minister's electorate of Wentworth, as do the fourth and fifth highest earning postcodes, which cover the suburbs of Bellevue Hill, Vaucluse, Watsons Bay and Dover Heights.
Hawksburn and Toorak in Victoria were the nation's second most affluent suburbs, while Sydney's Mosman and Spit Junction rounded out the top three.
Perth's beachside suburbs of Cottesloe and Peppermint Grove have slipped to sixth place in the national rankings, with the rest of the top 10 divided between Sydney, Melbourne and Perth.
Ten highest earning postcodes in Australia
| Postcode | State | Suburbs | Mean taxable income $ |
|---|---|---|---|
| 2027 | NSW | DARLING POINT, EDGECLIFF, HMAS RUSHCUTTERS, POINT PIPER | 200,015 |
| 3142 | VIC | HAWKSBURN, TOORAK | 167,407 |
| 2088 | NSW | MOSMAN, SPIT JUNCTION | 161,579 |
| 2023 | NSW | BELLEVUE HILL | 155,172 |
| 2030 | NSW | DOVER HEIGHTS, HMAS WATSON, ROSE BAY NORTH, VAUCLUSE, WATSONS BAY | 154,010 |
| 6011 | WA | COTTESLOE, PEPPERMINT GROVE | 152,792 |
| 2063 | NSW | NORTHBRIDGE | 152,050 |
| 2110 | NSW | HUNTERS HILL, WOOLWICH | 149,761 |
| 3944 | VIC | PORTSEA | 141,172 |
| 6009 | WA | BROADWAY NEDLANDS, CRAWLEY, DALKEITH, NEDLANDS, NEDLANDS DC | 133,958 |
The lowest earners were in outback Queensland, with the 96 people filing tax returns in the 4467 postcode area making an annual average taxable income of just $3,148.
The report also found the nation's top paying occupations are in the medical, financial and legal sectors.
Those topping the list were surgeons, with average yearly taxable earnings of $375,097, followed by anaesthetists at $331,867 and specialist physicians at $279,022.
Rounding out the top 10 were chief executives and engineering managers, with earnings averaging $164,097 and $148,786.
Ten highest paid occupations
| Occupation | Number of individuals | Average taxable income $ |
|---|---|---|
| Surgeons | 3,693 | 375,097 |
| Anaesthetists | 3,105 | 331,867 |
| Specialist physicians | 7,639 | 279,022 |
| Financial dealers | 4,907 | 233,639 |
| Judicial & other legal | 2,528 | 204,255 |
| Psychiatrists | 2,611 | 199,143 |
| Other medical practitioners | 28,705 | 182,722 |
| Mining engineers | 9,471 | 168,267 |
| CEOs and managing directors | 153,841 | 164,097 |
| Engineering managers | 26,608 | 148,786 |
The most charitable live in New South Wales and ACT, with an average yearly tax deductible charity and gift donation of $709.95 and $602.16 respectively.
Overall, Australians were generally fairly charitable, with 12.96 million individuals donating a total of $2.615 billion in tax deductible gifts during the period.
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