With the new tax year starting tomorrow, the Australian Taxation Office (ATO) has released its annual Taxation Statistics report.
The latest data, from the 2022-23 financial year, showed the ATO collected $577.4 billion in tax over those 12 months.
The stats outlined the breakdown of tax revenue sources, with 51.6 percent, or $298 billion, coming from individual income tax, 24.2 percent ($140 billion) from companies and 14.2 percent ($81.7 billion) from GST.
The ATO said work related expenses accounted for 50 percent of total deductions claimed by individuals.
It stated 10.3 million individuals claimed a total of $28.3 billion in work-related expenses, an average of $2,739 per person.
“The postcode with the highest average taxable income ($279,712) was 2027 in the eastern suburbs of Sydney,” the statement said.
The stats showed the average superannuation account balance increased from $164,000 in 2021–22 to $173,000 in 2022–23 and since reporting started in 2010–11, surgeons had remained the highest paid occupation with the 4247 individuals reporting an average taxable income of $472,475 in 2022–23.
