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    Victoria

    The Australian Taxation Office (ATO) has released the annual Taxation Statistics report for the income year 2016–17. The report presents an overview of 16.5 million 2017 income tax returns for 13.9 million individuals, 970,000 companies, as well as super funds, partnerships and trusts.

    As part of this year’s tax stats release, we’ve also included data of individuals with private health insurance. Other parts of the taxation system are also covered in a user–friendly format including data on Goods and Services Tax, excise, Fringe Benefits Tax and the Pay As You Go system.

    The statistics cover areas such as average taxable income by occupation and state. The profession with the highest income was surgeons, with a national average taxable income of $394,866. Anaesthetists filled the second spot with an average income of $367,343 and internal medicine specialists came in third with an average income of $299,378.

    In Victoria, the profession with the highest income was surgeons with an average taxable income of $396,153.

    Ten highest earning occupations in Australia

Based on average taxable income (2016-17 Income year)

1. Surgeon, $394,866
2. Anaesthetist, $367,343
3. Internal medicine specialist, $299,378
4. Financial dealer, $261,008
5. Psychiatrist, $216,075
6. Other medical practitioner, $204,387
7. Judicial/ legal professionals, $195,703
8. Mining engineer, $167,345
9. CEO or managing director, $157,643
10. Engineering manager, $147,451

    Out of around 1,100 occupations recorded, there were 72 occupations where females had an average taxable income higher than males. This included authors, future traders, magistrates, professional surfers and illustrators.

    Five occupations where females earn more than males

Based on average taxable income (2016-17 Income year)

1. Author
Females: $85,006 Males: $68,342

2. Futures Trader
Females: $315,197 Males: $303,466

3. Magistrates
Females: $262,152 Males: $255,177

4. Pro Surfer
Females: $76,614 Males: $48,367

5. Illustrator
Females: $62,245 Males: $58,304

    The highest average taxable income of $230,330 was recorded in Sydney’s 2108 postcode which covers Coasters Retreat, Palm Beach, Currawong Beach and Great Mackerel Beach.

    Highest earning postcodes in each state/territory

Based on average taxable income (2016-17 Income year)

In the Northern Territory, the highest taxable income of $83,343 was recorded in 885 postcode which covers Alyangula. 

In WA, the highest taxable income of $155,264 was recorded in 6011 postcode which covers Cottleslow and Peppermint Grove.

In SA, the highest taxable income of $93,871 was recorded in 5061 postcode which covers Hyde Park, Malvern, Unley, Unley bc, Unley Dc and Unley Park. 

In VIC, the highest taxable income of $193,904 was recorded in 3142 postcode which covers Hawksburn and Toorak. 

In TAS, the highest taxable income of $68,621 was recorded in 7258 postcode which covers Breadlbane, Relbia and White Hills.

In the ACT, the highest taxable income of $110,394 was recorded in 2603 postcode which covers Forrest, Griffith, Manuka and Red Hill.

In NSW, the highest taxable income of $230,330 was recorded in 2108 postcode which covers Coasters Retreat, Currawong Beach, Great Mackerel Beach and Palm Beach.

In QLD, the highest taxable income of $107,478 was recorded in 4007 postcode which covers Ascot, Hamilton and Hamilton Central.

    Victoria’s postcode 3142, covering Hawksburn and Toorak, was the highest Victorian postcode with an average taxable income of $193,904.

    Ten highest earning postcodes in Victoria

Based on average taxable income (2016-17 Income year)

1. The highest taxable income of $193,904 was recorded in 3142 postcode which covers Hawsburn and Toorak.

2. The second highest taxable income of $156,079 was recorded in 3944 postcode which covers Portsea.

3. The third highest taxable income of $130,443 was recorded in 3206 postcode which covers Albert Park and Middle Park.

4. The fourth highest taxable income of $130,048 was recorded in 3002 postcode which covers East Melbourne.

5. The fifth highest taxable income of $129,289 was recorded in 3186 postcode which covers Brighton, Brighton North and Dendy.

6. The sixth highest taxable income of $123,239 was recorded in 3126 postcode which covers Camberwell East and Canterbury.

7. The seventh highest taxable income of $119,334 was recorded in 3144 postcode which covers Kooyong, Malvern and Malvern North.

8. The eighth highest taxable income of $113,641 was recorded in 3143 postcode which covers Armadale and Armadale North. 

9. The ninth highest taxable income of $108,485 was recorded in 3191 postcode which covers Sandringham. 

10. The tenth highest taxable income of $103,980 was recorded in 3101 postcode which covers Cotham and Kew.

    Five highest earning postcodes in Ballarat and Surrounds

Based on average taxable income (2016-17 Income year)

1. The highest taxable income of $84,370 was recorded in 3441 postcode which covers Mount Macedon.

2. The second highest taxable income of $77,942 was recorded in 3440 postcode which covers Macedon.

3. The third highest taxable income of $65,385 was recorded in 3438 postcode which covers New Gisborne.

4. The fourth highest taxable income of $65,142 was recorded in 3430 postcode which covers Clarkefield.

5. The fifth highest taxable income of $65,091 was recorded in 3442 postcode which covers Ashbourne, Woodend, Woodend North, Newham, Rochford, Cobaw, Hesket, Cadello and Carlsruhe.

    Five highest earning postcodes in Geelong and surrounds

Based on average taxable income (2016-17 Income year)

1. The highest taxable income of $70,381 was recorded in 3220 postcode which covers Bareena, South Geelong, Newtown and Geelong.

2. The second highest taxable income of $69,881 was recorded in 3227 postcode which covers Connewarre, Barwon Heads and Breamlea.

3. The third highest taxable income of $67,170 was recorded in 3221 postcode which covers Barrabool, Gnarwarre, Geelong MC and Ceres.

4. The fourth highest taxable income of $62,502 was recorded in 3234 postcode which covers Wye River, Wongarra, Kennett River, Grey River, Sugarloaf and Separation Creek.

5. The fifth highest taxable income of $61,022 was recorded in 3228 postcode which covers Torquay, Bells Beach, Jan Juc and Bellbrae.

    Five highest earning postcodes in Mornington Peninsula

Based on average taxable income (2016-17 Income year)

1. The highest taxable income of $156,079 was recorded in 3944 postcode which covers Portsea.

2. The second highest taxable income of $100,314 was recorded in 3929 postcode which covers Flinders.

3. The third highest taxable income of $92,477 was recorded in 3943 postcode which covers Sorrento.

4. The fourth highest taxable income of $77,873 was recorded in 3930 postcode which covers Mount Eliza and Kunyung.

5. The fifth highest taxable income of $75,464 was recorded in 3928 postcode which covers Main Ridge.

    Five highest earning postcodes in the Yarra Valley region

Based on average taxable income (2016-17 Income year)

1. The highest taxable income of $78,109 was recorded in 3739 postcode which covers Eurobin.

2. The second highest taxable income of $70,234 was recorded in 3791 postcode which covers Kallista.

3. The third highest taxable income of $66,724 was recorded in 3788 postcode which covers Olinda.

4. The fourth highest taxable income of $65,623 was recorded in 3786 postcode which covers Ferny Creek.

5. The fifth highest taxable income of $65,125 was recorded in 3786 postcode which covers Panton Hill.

    Australia continues to be a charitable nation. In total, Australians reported donating $3.5 billion with an average gift size, for those who did donate, of $770. The most generous state was Western Australia, with 30% of residents claiming an average deduction of $1,190. Northern Territory residents recorded the lowest charitable donations, with 34% of residents claiming an average deduction of $405.

    In Victoria, 36% of residents claimed an average donation of $798.

    For more information see Taxation statistics 2016–17.

    Last modified: 29 Mar 2019QC 58363