Working Australians need to get paid more than $50,861 a year before tax to be in the top half of income earners.
In a mining town or a waterfront mansion suburb that’s home to billionaires, someone earning almost $100,000 would barely be considered rich.
One of these wealthy outback mining towns is also Australia’s most egalitarian with more than half the people being in the top tier of income earners while a rich suburb on a river has Australia’s highest level of income inequality.
Working Australians need to get paid more than $50,861 a year before tax to be in the top half of income earners. In a mining town of Tom Price in Western Australia’s Pilbara region, $97,862 is the median income
An Australian Bureau of Statistics analysis of tax office data showed showed 77.7 per cent of Australians derived their main source of income from wages.
Just 1.6 per cent of Australians relied on superannuation as their main source of income, with older Australians able to receive the aged pension.
When it came to salaries, $50,861 was the median income in the 2017-18 financial year, the ABS revealed on Friday.
This was more than double the $21,738 from superannuation returns.
Australia’s overall median personal income, covering all types of income, stood at $49,805 but in some remote mining towns, mid-point income levels were double that.
The iron ore-rich Pilbara region in Western Australia had the nation’s highest median personal income level of $97,862 based on data for the Shire of Ashburton, which takes in Tom Price.
Roxby Downs, a small copper and uranium mining town north of Adelaide, was next with a median income of $92,398. Intriguingly, part of outback South Australia had Australia’s lowest level of income inequality with 55.2 per cent people being in the top quartile of income earners
Roxby Downs, a small copper and uranium mining town north of Adelaide, was next with a median income of $92,398.
Intriguingly, this local government area in outback South Australia had Australia’s lowest level of income inequality with 55.2 per cent people in the top quartile of income earners as the top ten per cent took home just 21.9 per cent of the riches.
Its median income was even higher than billionaires’ row Peppermint Grove, on Perth’s Swan River, where $90,486 was in the middle.
Its median income was even higher than billionaires’ row Peppermint Grove, on Perth’s Swan River, where $90,486 was in the middle
Mining magnates Gina Rinehart and Andrew Forrest and Seven Group chairman Kerry Stokes live the elite area known locally as the ‘dress circle’.
Peppermint Grove had Australia’s highest income inequality with the top ten per cent of income earners taking home 65.4 per cent of all the wealth.
Western Australia’s mining-rich Port Hedland ($83,516) and the bauxite mining town of Weipa in far north Queensland ($82,098) rounded out the top five list.
Sydney rounded out the top ten with Woollahra in the eastern suburbs ($77,159) and North Sydney on the lower north shore ($76,063).
Sydney rounded out the top ten with Woollahra in the eastern suburbs with a median income of $77,159. Pictured is the view of Sydney Harbour from Bellevue Hill
Canberra had one spot on the top ten list, with its southern region having a median income of $79,591.
Tasmania had no local government areas with median incomes the national mid-point of $49,805.
The Northern Territory’s richest area was the satellite army city of Palmerston, south of Darwin, with a median income of $66,804, putting it ahead of Stonington in Melbourne’s south-east where $64,514 was in the middle.
Australia’s richest areas for median personal income by council zone
1. Ashburton, Western Australia’s Pilbara region: $97,862
2. Roxby Downs, South Australia: $92,398
3. Peppermint Grove, Perth: $90,486
4. Port Hedland, Western Australia: $83,516
5. Weipa, far north Queensland: $82,098
6. South Canberra: $79,591*
7. Karratha, Western Australia: $78,594
8. East Pilbara, Western Australia: $78,327
9. Woollahra, Sydney’s east: $77,159
10. North Sydney, Sydney’s lower north shore: $76,063
* Australian Bureau of Statistics statistical region as the Australian Capital Territory doesn’t have local government areas
Source: Daily Mail Australia | World News