The Australian Taxation Office (ATO) has released its annual Taxation Statistics report, which covers the 2023–24 financial year.
The report contains data extracted from tax returns and related schedules for the 2023–24 income year, as well as other information provided to the ATO.
The report is the ATO's most comprehensive statistical publication. The data provides valuable insight into the income tax positions of individuals, companies, super funds and partnerships in Australia and is used to inform discussion by governments, researchers and commentators.
The 2023–24 data generally follows trends from previous years, with the average taxable income and average superannuation account balance continuing to rise.
This report also includes information relating to the 2024–25 financial or fringe benefits tax year, including for GST, excise and fuel schemes and fringe benefits tax (FBT).
What’s new in the 2023–24 data
This year, there is more detailed occupation data for individuals included, splitting key items by occupation unit group and state / territory. Key items include average and median taxable income, salary or wages and total income.
There is also additional data in the petroleum resource rent tax (PRRT) table.
Points of interest from the 2023–24 data
- The total tax revenue collection collected by the ATO for 2023–24 was $630.9 billion:
- 52.2% came from individual income tax ($329.5 billion)
- 22.7% came from companies ($144.6 billion)
- 13.6% came from GST ($85.6 billion)
- 5.2% came from super fund income tax ($32.7 billion)
- 4.8% came from excise ($30.2 billion)
- 0.7% came from FBT ($4.5 billion)
- 0.6% came from PRRT, luxury car tax (LCT) and wine equalisation tax (WET) ($3.8 billion).
- Work-related expenses accounted for 53% of total deductions claimed by individuals, with 10.7 million individuals claiming a total of $31.6 billion in work-related expenses – an average of $2,956 per person.
- Net capital gains reported by individuals rose from $37.8 billion in 2022–23 to $40.6 billion in 2023–2024, with the biggest source of capital gains for individuals coming from real estate.
- The average superannuation account balance increased from $173,000 in 2022–23 to $183,000 in 2023–24.
- The postcode with the highest average taxable income ($321,988) was 3944 in southern Melbourne. This is the first time Victoria has had the highest-earning postcode.
- For the last 15 years, surgeons have remained the highest-paid occupation with the 4,280 individuals reporting an average taxable income of $519,998 in 2023–24.
- Net tax from companies for the 2023–24 income year increased by 3.3% to $145 billion (compared to $140 billion in 2022–23).
For the full breakdown of the 2023–24 statistics, visit ato.gov.au/taxstats.
Notes to journalists
- ATO file footage is available for use in news bulletins from our media centre.