The Australian Taxation Office has once again published data outlining where the country’s wealthiest professionals cluster geographically. Surprise, surprise… the highest-earning postcodes in Australia are generally from Sydney. Particularly within the Eastern Suburbs.
But the throne is no longer occupied by a postcode that begins with 2-0, nor does it hail from Melbourne. In 2022, Australia’s highest-earning postcode is located just outside of Perth: 6011 — that’s Cottesloe and Peppermint Grove, in case you were wondering.
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Taking the top spot on the ATO’s annual list by a healthy margin of around $120,000, the 6011 previously ranked 10th with an average taxable income of $167,090. Since then, however, the suburb(s) have almost doubled that figure.
According to The Sydney Morning Herald, Cottesloe and Peppermint Grove’s 5,200 residents have enjoyed a “modest” increase of approximately $459 million in their collective salaries. And during a bloody recession, no less.
How does this compare to the everyday punter? As per this year’s ATO roundup, the average taxable income was $62,549 – $73,218 for males; $51,382 for females – while the median taxable income was $47,492 – $55,829 for males; $40,547 for females. Which certainly is quite the difference from the 1%.
Anyway, here are the postcodes of Australia’s highest earners (by FY19/20 average taxable income).
The Highest-Earning Postcodes In Australia (2022)
- [6011] Cottesloe, Peppermint Grove WA – $325,343
- [2027] Darling Point, Edgecliff, Point Piper NSW – $205,957
- [2023] Bellevue Hill NSW – $195,204
- [2030] Dover Heights, Rose Bay North, Vaucluse, Watsons Bay NSW – $186,025
- [3142] Hawksburn, Toorak VIC – $184,939
- [2088] Mosman, Spit Junction NSW – $177,645
- [2110] Hunters Hill, Woolwich NSW – $175,907
- [2025] Woollahra NSW – $172,600
- [2063] Northbridge NSW – $170,619
- [2028] Double Bay NSW – $170,051
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The Highest-Earning Jobs In Australia (2022)
In terms of the occupation breakdown – surgeons have taken the number one spot (average taxable income: $406,068), followed closely by anesthetists (average taxable income: $388,814), then internal medicine specialists (average taxable income: $310,848), financial dealers (average taxable income: $279,790), and rounding out the Top 5 are psychiatrists (average taxable income: $252,691). Medical money just hits different, I suppose.
Here’s what every other gig in the Top 10 ranked (by FY19/20 average taxable income).
- Surgeons – $406,068
- Anaesthetists – $388,814
- Internal Medicine Specialists – $310,848
- Financial Dealers – $279,790
- Psychiatrists – $252,691
- Other Medical Practitioners – $232,903
- Judicial or Other Legal Professionals – $189,538
- Mining Engineer – $188,083
- Engineering Manager – $161,514
- Financial Investment Advisor or Manager – $155,882
You can check out more data regarding Australia’s highest earners vis-a-vis postcodes and otherwise below.
Now that you’ve learned what it takes to be considered a baller in Australia, learn about what it takes to be considered in the top 1% around the world here.