More than 100 Australians earned more than $1 million yet paid no tax in 2021–22, while Australia's highest earners live in Double Bay, according to newly released data from the Australian Taxation Office.
More than 100 Australians earned more than $1 million in total income yet paid no tax in 2021–22, while Australia's highest earners live in Double Bay, according to newly released data from the Australian Taxation Office .
The vast bulk of this was $240 million in donations to tax-deductible charities, or an average of about $2.4 million each. There are very few landlords with five investment properties and a similarly small group with six or more .The ATO's taxation statistics for 2021–22 show only 4 per cent of landlords own four or more properties.On average, more landlords made profits than losses in 2021–22 as interest rates were at historic lows for much of that financial year. The net rental gain median was $1,070 and the average was $2,608.
The next highest earners were in Sydney postcode 2027, which takes in the harbourside suburbs of Darling Point and Edgecliff. Here the average taxable income was $269,777.The area taking in students studying at The University of Newcastle's main campus at Callaghan, postcode 2308, earned an average taxable income of $20,878.
The average taxable income in 2021–22 was $72,327. But the ATO data shows that the median or middle income, which strips the impact of those with very high and low earnings, was $53,041.
Tax Stats Ato Australian Taxation Office Income Tax Tax Returns Rental Income Rental Deductions Negative Gearing Rental Losses Richest Postcodes Poorest Postcodes Richest Occupations Poorest Occuptions Wealth Millionaires Millionaires Who Paid No Tax Tax Deductions Company Tax Luxury Car Tax Capital Gains Petroleum Resource Rent Tax Gst Goods And Services Tax Taxation Statistics 2021-22 Tax Collections Taxpayers
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