Friday, March 20, 2009

Where the rich people live

The Tax Stats are a treasure trove - dive in

There aren't many taxpayers in Portsea, Victoria. Just 270 of them according to the Australian Tax Office, but they make an important contribution.

According to its latest assembly of tax statistics they reported the highest taxable incomes in Australia in 2006-07, an average of $219,345 each - up 39 per cent on the year before.

By contrast taxpayers in Toorak reported reported earning a lessor $158,927 on average, up a lower 15 per cent on the year before.

The residents of Portsea also do well out of shares, clocking up an impressive $35,000 each on average in imputation credits.

By contrast at the bottom end of the scale in postcode 3387 which takes in Kanya, Marnoo and Wallaloo in Western Victoria...

...the average income is just $28,806 - 11 per cent lower than a year before. Their average imputation credits amounts to a mere $475 each.

While the average resident of Portsea pays $84,600 in tax and the average resident of Wallaloo $4015, most of us are in the middle. The average tax paid in Victoria is $13,440 per person and the average taxable income $49,800.

NSW residents do better with average taxable incomes of $53,000, and residents of Western Australia and the ACT do best of all earning a taxable $55,700 and $57,500 in 2006-07.

But its noteworthy that while average incomes in Canberra are high, none its suburbs comes within cooee what's earnt in Sydney's Darling Point, Bellevue Hill, Mosman or Rose Bay, Melbourne's Toorak or Perth's Peppermint Grove.

Australia's top 10 earning suburbs are broadly the same as they have been for years with Portsea and Toorak Victoria's only two inclusions.

Victoria's Byrneside,Kamarooka,and Marnoo edged their way down into the bottom 10, elbowing out Nyah West, Banyan and Watchupga.

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7 comments:

MkeM said...

Is it possible to obtain the kind of data that Piketty and Saez accessed for their paper, "Income Inequality in the United States, 1913-2002", http://elsa.berkeley.edu/~saez/piketty-saezOUP04US.pdf ?

It would be interesting to know the trend among the top 5%, 1% and 0.5% of Australian income earners, in terms of their share of total national income.

WT said...

I'm a little confused as to why Newcastle University has it's very own postcode (2308) when it's not actually a suburb, though apparently it does.

Peter Whiteford said...

Tony Atkinson and Andrew Leigh have done the same sort of study as Piketty and Saez at http://econrsss.anu.edu.au/pdf/DP514.pdf

Anonymous said...

The richest people in Tasmania live in the Hobart GPO? In post office boxes?

TP

PeterMartinLaborStooge said...

mate,
just put Labor party membership up on the web and be done with it.

You are hopelessly biased.

rubbishing the Coalition endlessly while never criticising Rudd and his mates.

At least try to pretend to be unbiased!

Peter Martin said...

The Swan tax cuts that push up the effective tax rate

Swan's bank-switching package is a useless joke

Malcom Turnbull is Wayne Swan's pacemaker

Rudd's really dud promise

Rudd governs blindfolded

Swan's shemozzle

Swan squibs it

What if Swan and Rudd got tax right?

Marek said...

Don't know why you bother keep responding that kind of crap Peter.

Though it looks like you will have a new link to add if the now proposal to pay people to scrap their cars get though.

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