Tax office data shows slight improvement in number of Australia’s highest earners who pay no income taxForty-eight Australians who earned more than $1m in the 2014-15 financial year paid no income tax. It shows Australia now has 11,854 taxpayers earning more than $1m, the vast majority of whom have paid some sort of tax on their taxable income. Seven of the top 10 postcodes with the highest average taxable income are in New South Wales. There were 128 individuals living there in 2014-15, claiming an average taxable income of $16,862 per person. Australia’s 3,790 surgeons had an average taxable income of $377,044 in 2014-15, while 3,178 anaesthetists had an average taxable income of $341,041, and 7,964 medicine specialists had an average taxable income of $281,547.

Source: The Guardian April 12, 2017 06:56 UTC