Australia’s Highest-Earning Postcode Increased Average Income By $90,000 In A Year

The Australian Taxation Office (ATO) has once again published data outlining where the country’s wealthiest professionals cluster geographically. And surprise, surprise: six of the 10 highest-earning postcodes in Australia are from Sydney. Particularly within the Eastern Suburbs.

At the time of this writing, the throne is no longer occupied by what we’d previously dubbed the “dark horse” postcode of Western Australia’s 6011 (Cottesloe and Peppermint Grove). After bumping up its average taxable income by an impressive $90,000 in a single year, the highest-earning postcode in Australia is now 2028 (Double Bay) at just over $354,000.

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How does this compare to the everyday punter?

As per the latest ATO roundup, the average taxable income countrywide is $68,289 — $84,328 for males; $60,054 for females — while the median taxable income is $50,980 — $61,988 for males; $45,813 for females. Which certainly is quite the difference from the 1%.

Anyway, here are the postcodes of Australia’s highest earners (by FY20/21 average taxable income).

The Highest-Earning Postcodes In Australia (2024)

1. [2028] Double Bay NSW — $354,308
2. [6011] Cottesloe, Peppermint Grove WA — $285,283
3. [2027] Darling Point, Edgecliff, HMAS Rushcutters, Point Piper NSW — $269,777
4. [3142] Hawksburn, Toorak VIC — $266,020
5. [2023] Bellevue Hill NSW — $245,728
6. [2030] Dover Heights, Rose Bay North, Vaucluse, HMAS Watson, Watsons Bay NSW — $239,974
7. [3944] Portsea VIC — $221,867
8. [2108] Coasters Retreat, Currawong Beach, Great Mackerel Beach, Palm Beach NSW — $216,262
9. [2110] Hunters Hill, Woolwich NSW — $215,456
10. [2025] Woollahra NSW — $215,123

The Highest-Earning Jobs In Australia (2024)

In terms of the occupation breakdown, four out of the top five involve medicine; the rankings having remained virtually unchanged for years now.

Surgeons have yet again defended their title by claiming the number one spot (average taxable income: $460,356), followed closely by anaesthetists ($431,193), internal medicine specialists ($373,733), financial dealers ($373,733), and then psychiatrists ($276,545).

Here’s what every other gig in the Top 10 ranked (by FY20/21 average taxable income).

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1. Surgeons — $460,356
2. Anaesthetists — $431,193
3. Financial Dealers — $373,733
4. Internal Medicine Specialists — $340,729
5. Psychiatrists — $276,545
6. Other Medical Practitioners — $255,754
7. Mining Engineer — $214,365
8. Judicial or Other Legal Professionals — $204,934
9. Chief Executive Officer or Managing Director — $197,720
10. Financial Investment Advisor or Manager — $185,834

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; and what’s considering the average salary in Australia as of 2024.