Have you ever ever puzzled how your earnings compares to different Australians?
Effectively, annually the ATO publishes a breakdown of the taxable earnings distribution of Australian staff.
So let’s take a look at the way you evaluate…
What’s a ‘median’ earnings in Australia?
In keeping with the Australian Bureau of Statistics, the median Australian worker earned $65,000 in 2022.
This determine captures each full-time staff and part-time staff.
In different phrases, half of all Aussie staff earned greater than this and, after all, the opposite half earned much less.
Whereas incomes have elevated steadily over the previous few a long time, clearly they are not maintaining with inflation at the moment.
In 1975, the median worker earned $6448 per 12 months.
Within the 47 years since then, wages have grown by about 5 per cent yearly, taking median worker earnings to the place it’s at the moment.
What concerning the wealthiest Australians?
ATO stats for 2019-20, which is the newest 12 months for which information is on the market, the median taxpayer – that’s, the particular person on the fiftieth percentile – reported a taxable earnings between $60,326 and $61,264.
- In case your taxable earnings was $131,501 or larger, then you definitely earned greater than 90% of different Australians.
- When you taxable earnings was greater than $253,066, then you definitely took dwelling greater than 99% of Aussie taxpayers.
What about wealth?
Whereas analysing incomes is attention-grabbing, what about wealth?
The ABS gives these stats and we already know that the majority Australian’s family wealth is made from of residential actual property (predominantly their houses).
Then there are shares and superannuation to take into consideration and internet wealth has risen, regardless of Aussies taking up extra debt.
The info present the median family had a internet price of $579,200 in 2019-20.
Here is the place Australia’s wealthiest folks dwell