Australian Taxation Office reveals top 10 highest paying jobs based on taxable income
The Australian Taxation Office (ATO) has revealed the top-10 highest paying jobs in the country.
The information was gathered from 2021-22 taxation statistics, with the ATO compiling the list based on the average taxable income of each occupation.
Coming in at No.1 were surgeons who earned a staggering $460,356 during the 2021–22 financial year.
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By continuing you agree to our Terms and Privacy Policy.According to the ATO there were only 4170 surgeons working during that time period.
Compared to the average taxable income in Australia during that same time frame ($72,327), surgeons were earning just over six times more.
Professions in the medical field took up most of the highest earning spots, including anaesthetists who came in at number two on the list, earning $431,193.
Financial dealers were next ($373,733), followed by internal medical specialists ($340,729) and psychiatrists ($276,545).
Mining engineers also made an appearance, with almost 10,000 earning about $214,000 on average during the 2021–22 financial year.
Financial investment advisors or managers rounded out the top 10, raking in $185,834.
Top 10 occupations by average taxable income:
- Surgeon $460,356
- Anaesthetists $431,193
- Financial dealer $373,733
- Internal medicine specialists $340,729
- Psychiatrist $276,545
- Other medical practitioners $255,754
- Mining engineer $214,365
- Judicial or other legal professional $204,934
- Chief executive officer or managing director $197,720
- Financial investment adviser or manager $185,834
The ATO also revealed which suburbs were home to the highest paying earners.
Seven of the top 10 postcodes in the country were in NSW, with Sydney harbourside suburb Double Bay taking out top spot.
The average taxable income of residents living in this postcode (2028) during the 2021–22 financial year was $354,308.
According to realestate.com, the median price of a house in Double Bay is $6,625,000.
WA and Victoria were the only other states to appear on the list, with the Perth suburbs of Cottesloe and Peppermint Grove coming in at number two.
Residents in these suburbs earned $295,283 according to the ATO.
Portsea, Hawkburn and Toorak were the top-earning suburbs from Victoria.
