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Top 10 Richest And Poorest Australian Postcodes

Newly released statistics from the Australian Taxation Office (ATO) have revealed what the richest and poorest areas of Australia are.

ATO revealed richest and poorest areas in Australia

Published yesterday, the ATO’s 2014-15 Taxation Statistics report provided a range of insights, including what our wealthiest and poorest postcodes are, what occupation earns the most money, and which states are the most generous.

Top 10 richest postcodes in Australia

Postcode State/Territory Suburbs Average Taxable Income ($/year)
2027 NSW Darling Point, Edgecliff, HMAS

Rushcutters, Point Piper

$189,293
2030 NSW Dover Heights, HMAS Watson, Rose Bay North, Vaucluse, Watsons Bay $185,684
3142 VIC Hawksburn, Toorak $173,808
2023 NSW Bellevue Hill $163,820
3944 VIC Portsea $156,669
2088 NSW Mosman, Spit Junction $155,143
2110 NSW Hunters Hill, Woolwich $152,102
2063 NSW Northbridge $151,574
6011 WA Cottesloe, Peppermint Grove $144,273
2025 NSW Woollahra $141,298

Source: ATO, 2017

Sydney’s eastern suburbs are still the home of the richest residents in Australia, according to the ATO’s data.

The richest postcode in the country, 2027, has an average taxable income of almost $190,000/year.

This includes suburbs such as Darling Point and Point Piper, which are well-known for their luxurious multi-million dollar homes and high-profile residents such as Prime Minister Malcom Turnbull.

NSW accounted for 7 of the 10 wealthiest postcodes in the country, while Victoria was the next wealthiest with two.

Western Australia is the only outlier, with its Cottesloe and Peppermint Grove suburbs rounding out 9th spot in the list.

Top 10 poorest postcodes in Australia

Postcode State/Territory Suburbs Average Taxable Income ($/year)
2387 NSW Bulyeroi, Rowena $-8,832
4423 QLD Teelba, Glenmorgan $16,862
4489 QLD Wyandra $18,538
4467 QLD Mungallala, Tyrconnel, Redford $19,954
2386 NSW Burren Junction, Nowley, Drildool $20,666
2899 NSW Norfolk Island $20,891
4732 QLD Tablederry, Muttaburra $21,415
4424 QLD Glenaubyn, Drillham South, Drillham $21,492
4462 QLD Amby $23,378
4426 QLD Jackson, Jackson North, Jackson South $23,388

Source: ATO, 2017

At the other end of the spectrum, NSW also lays claim to the poorest postcode in the country, with Bulyeroi and Rowena. This area has just 132 residents in total and has an average taxable income that is a loss of $8,832.

Queensland is also home to most of the poorest postcodes in the top 10. 7 of the 10 poorest postcodes are in the sunshine state, with the 128-population postcode of Teelba and Glenmorgan having an average taxable income of just $16,862.

Bear in mind that each of the entries in this list are very sparsely populated, as only one suburb has a population of over 200 people.

Top 10 wealthiest occupations in Australia

Occupation Number Of Individuals Average Taxable Income ($/year)
Surgeons 3,790 $377,044
Anaesthetists 3,178 $341,041
Internal medicine specialists 7,964 $281,547
Financial dealers 4,862 $235,444
Psychiatrists 2,768 $204,236
Other medical practitioners 27,485 $192,469
Legal professionals 2,857 $191,201
Mining engineers 9,235 $174,115
Chief Executives, Managing Directors 160,081 $157,105
Engineering managers 26,337 $148,216

Source: ATO

If you’re thinking of switching careers (and don’t mind spending another 10 years studying) then you might want to consider becoming a surgeon, as they are the most well-paid people in the country by quite a margin.

Surgeons made a whopping $377,000/year on average across the country, with anaesthetists not far behind on $341,000/year.

Miners, lawyers, chief executives, and medical specialists round out the top 10.

How states ranked for charitable giving

State/Territory # of people who claimed donation deductions Gift and donation value ($) Average gift and donation value per person
NSW 1,464,399 $1,225,193,921 $295.60
VIC 1,253,312 $942,851,514 $285.93
QLD 834,848 $382,415,722 $145.83
WA 467,081 $250,562,929 $168.95
SA 296,422 $139,377,920 $151.53
ACT 106,307 $72,943,140 $269.35
TAS 88,275 $42,309,639 $172.52
NT 43,964 $16,363,800 $130.52

Source: ATO

With the highest average gift and donation value, NSW can be considered to be the most charitable state.

This is not surprising when 7 out of 10 of the wealthiest postcodes in Australia are located in NSW.

Over 1.4 million people in NSW claimed tax deductions for gifts and making donations.

All information is taken from the Australian Taxation Office’s Taxation Statistics 2014–15 Report.

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